Dividend and Share Repurchase (Notes)

3 Months Ended

Mar. 31, 2014

Return of Capital to Shareholders [Abstract]

Return of Capital to Shareholders [Text Block]

DIVIDEND AND SHARE REPURCHASE

In May 2013, we announced a plan to return more than $1 billion to shareholders over the next three years. As part of this plan, our Board of Directors initiated a quarterly dividend program. On February 7, 2014, the Board of Directors declared the third payment in this program, a $0.06 per share dividend for shareholders of record as of February 21, 2014. This dividend was paid in March 2014 and totaled $51 million.

Also as a part of the plan, the Board of Directors authorized a $500 million share repurchase program to be completed no later than June 30, 2016. During the three months ended March 31, 2014, we repurchased and retired four million shares at a cost of $125 million, bringing our total repurchases under the program to $375 million. We expect to complete our $500 million share repurchase authorization in the June quarter.