SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

Dividends

During the three months ended March 31, 2014, the Company declared and paid a quarterly dividend of $0.25 per share, or $17 million.

Common Stock Repurchase

In September 2012, the Board of Directors authorized a $250 million share repurchase program, which does not have an expiration date, but is expected to be completed in 2014.

Share repurchase activity (in millions, except share amounts):

	Three Months Ended March 31,
	2014			2013
	Shares	Amount		Shares	Amount
2012 Repurchase Program - $250 million	352,851	$	30	373,185	$	19

Accumulated Other Comprehensive Loss

Components of accumulated other comprehensive income (loss), net of tax (in millions):

	March 31, 2014			December 31, 2013
Marketable securities	$	2		$	—
Employee benefit plans	(172		)	(173		)
Interest rate derivatives	(11		)	(10		)
Total	$	(181	)	$	(183	)

Earnings Per Share (EPS)

Diluted EPS is calculated by dividing net income by the average common shares outstanding plus additional common shares that would have been outstanding assuming the exercise of in-the-money stock options and restricted stock units, using the treasury-stock method. For the three months ended March 31, 2014 and 2013, anti-dilutive shares excluded from the calculation of EPS were not material.