Shareholders’ Equity
Shares of common stock
The following table summarizes total shares of common stock outstanding:
|
| | | | |
| December 31 |
Millions of shares | 2013 | 2012 |
Issued | 1,072 |
| 1,073 |
|
In treasury | (223 | ) | (144 | ) |
Total shares of common stock outstanding | 849 |
| 929 |
|
In July 2013, our Board of Directors increased the authorization to purchase Halliburton common stock under our stock repurchase program by $4.3 billion, to a new total repurchase capacity of $5.0 billion. In August 2013, we repurchased approximately 68 million shares of our common stock for an aggregate cost of $3.3 billion at a purchase price of $48.50 per share, excluding fees and expenses, pursuant to a modified Dutch auction cash tender offer. Including the shares purchased pursuant to the tender offer, during the year ended December 31, 2013, we repurchased approximately 93 million shares of our common stock for a total cost of approximately $4.4 billion at an average price of $47.02 per share.
As of December 31, 2013, approximately $1.7 billion of purchase authorization remained available under the stock repurchase program. The program does not require a specific number of shares to be purchased and the program may be effected through solicited or unsolicited transactions in the market or in privately negotiated transactions. The program may be terminated or suspended at any time. From the inception of this program in February 2006 through December 31, 2013, we repurchased approximately 188 million shares of our common stock for approximately $7.6 billion at an average price per share of $40.52.
Preferred stock
Our preferred stock consists of five million total authorized shares at December 31, 2013, of which none are issued.
Accumulated other comprehensive loss
Accumulated other comprehensive loss consisted of the following:
|
| | | | | | |
| December 31 |
Millions of dollars | 2013 | 2012 |
Defined benefit and other postretirement liability adjustments (a) | $ | (241 | ) | $ | (241 | ) |
Cumulative translation adjustment | (69 | ) | (69 | ) |
Other | 3 |
| 1 |
|
Total accumulated other comprehensive loss | $ | (307 | ) | $ | (309 | ) |
(a) Included net actuarial losses for our international pension plans of $222 million at
December 31, 2013 and $208 million at December 31, 2012.
Amounts reclassified out of accumulated other comprehensive loss and the tax effects allocated to each component of other comprehensive income were not material for the year ended December 31, 2013 or 2012.
