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Equity
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Equity

11. Equity

On February 5, 2013, L-3 Holdings’ Board of Directors approved a share repurchase program that authorizes L-3 Holdings to repurchase up to $1.5 billion of its common stock through June 30, 2015, which was fully utilized as of February 20, 2015. On December 4, 2014, L-3 Holdings’ Board of Directors approved a new share repurchase program that authorizes L-3 Holdings to repurchase up to an additional $1.5 billion of its common stock through June 30, 2017. Repurchases of L-3 Holdings’ common stock are made from time to time at management’s discretion in accordance with applicable U.S. Federal securities laws. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including, but not limited to, the Company’s financial position, earnings, legal requirements, other investment opportunities (including acquisitions) and market conditions. L-3 Holdings, repurchased 6.4 million shares of its common stock at an average price of $116.13 per share for an aggregate amount of $740 million from January 1, 2015 through December 31, 2015. All share repurchases of L-3 Holdings’ common stock have been recorded as treasury shares. At December 31, 2015, the remaining dollar value of authorization under the December 4, 2014 share repurchase program was $806 million.

From January 1, 2016 through February 19, 2016, L-3 Holdings repurchased 1,133,885 shares of its common stock at an average price of $114.60 per share for an aggregate amount of approximately $130 million. The remaining dollar value of authorization under the December 4, 2014 share repurchase program was $676 million at February 19, 2016.