Shareholders' Equity

Ordinary Shares

In April 2012, the Company's Board of Directors authorized a share repurchase program under which up to $5.0 billion of Class A Ordinary Shares may be repurchased ("2012 Share Repurchase Program"). In November 2014, the Company's Board of Directors authorized a new $5.0 billion share repurchase program in addition to the existing program ("2014 Share Repurchase Program"). Under each program, shares may be repurchased through the open market or in privately negotiated transactions, from time to time, based on prevailing market conditions, and will be funded from available capital.

In the three months ended June 30, 2015, the Company repurchased 3.0 million shares at an average price per share of $100.92 for a total cost of approximately $300 million under the 2012 Share Repurchase Program. During the six months ended June 30, 2015, the Company repurchased 5.5 million shares at an average price per share of $100.57 for a total cost of approximately $550 million under the 2012 Share Repurchase Program. In the three months ended June 30, 2014, the Company repurchased 7.4 million shares at an average price per share of $87.67 for a total cost of $650 million under the 2012 Share Repurchase Program. During the six months ended June 30, 2014, the Company repurchased 14.6 million shares at an average price per share of $85.59 for a total cost of $1.3 billion under the 2012 Share Repurchase Program. At June 30, 2015, the remaining authorized amount for share repurchase under the 2012 Share Repurchase Program and 2014 Share Repurchase Program is $5.1 billion. Since the program's inception in 2012, the Company repurchased a total of 67.6 million shares for an aggregate cost of $4.9 billion.

Net Income Per Share

Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities, as defined, and therefore should be included in computing basic and diluted earnings per share using the two-class method. Certain of the Company's restricted share awards allow the holder to receive a non-forfeitable dividend equivalent.

Weighted average shares outstanding are as follows (in millions):



	Three months ended June 30,		Six months ended June 30,
	2015	2014	2015	2014
Shares for basic earnings per share	284.5	298.5	284.3	301.0
Common stock equivalents	2.2	3.1	2.6	3.4
Shares for diluted earnings per share	286.7	301.6	286.9	304.4

Certain ordinary share equivalents may be excluded from the computation of diluted net income per share if their inclusion would be antidilutive. There were no shares excluded from the calculation for the three and six months ended June 30, 2015 and 2014, respectively.

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss by component, net of related tax, are as follows (in millions):



	Change in Fair Value of Financial Instruments (1)			Foreign Currency Translation Adjustments			Post-Retirement Benefit Obligation (2)			Total
Balance at December 31, 2014	$	(17	)	$	(335	)	$	(2,782	)	$	(3,134	)
Other comprehensive income (loss) before reclassifications, net	5			(145		)	3			(137		)
Amounts reclassified from accumulated other comprehensive loss:
Amounts reclassified from accumulated other comprehensive loss	11			—			59			70
Tax benefit	(17		)	—			(18		)	(35		)
Amounts reclassified from accumulated other comprehensive loss, net	(6		)	—			41			35
Net current period other comprehensive (loss) income	(1		)	(145		)	44			(102		)
Balance at June 30, 2015	$	(18	)	$	(480	)	$	(2,738	)	$	(3,236	)

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(1) Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income (expense).

(2) Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Compensation and benefits.