Capital Stock

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Capital Stock

Capital Stock

On August 24, 2015, our Board of Directors authorized the repurchase of up to $500 million in shares with no expiration date. The program's objective is to deploy our capital in a manner that benefits our shareholders and maintains our focus on growth. There were no shares repurchased under this program during the three months ended March 31, 2017 and 2016. There are up to $420 million in shares that may still be purchased under this plan as of March 31, 2017.

On August 18, 2012, our Board of Directors authorized the repurchase of up to 2.0 million shares of common stock with no expiration date. The program's objective is to offset dilution associated with various Xylem employee stock plans by acquiring shares in the open market from time to time. There were no shares repurchased under this program during the three months ended March 31, 2017 and 2016. There are up to 0.3 million shares (approximately $13 million in value) that may still be purchased under this plan as of March 31, 2017.

Aside from the aforementioned repurchase programs, we repurchased 0.1 million and 0.1 million shares for $5 million and $3 million for the three months ended March 31, 2017 and 2016, respectively, in relation to settlement of employee tax withholding obligations due as a result of the vesting of restricted stock units.