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Shareholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Schedule of Repurchase Agreements
The following table summarizes the Company’s Share Repurchase activity (in millions, except per share data):
 
Three Months Ended June 30
 
Six Months Ended June 30
 
2019
 
2018
 
2019
 
2018
Shares repurchased
5.8

 
2.8

 
6.4

 
6.7

Average price per share
$
183.23

 
$
141.23

 
$
181.07

 
$
141.06

Costs recorded to retained earnings:

 

 
 
 
 
Total repurchase cost
$
1,050

 
$
400

 
$
1,150

 
$
950

Additional associated costs
6

 
2

 
7

 
5

Total costs recorded to retained earnings
$
1,056

 
$
402

 
$
1,157

 
$
955
Schedule of Components of Weighted Average Number of Shares
Weighted average ordinary shares outstanding are as follows (in millions):
 
Three Months Ended June 30
 
Six Months Ended June 30
 
2019
 
2018
 
2019
 
2018
Basic weighted average ordinary shares outstanding
240.6

 
246.0

 
241.4

 
247.2

Dilutive effect of potentially issuable shares
2.2

 
1.4

 
1.8

 
1.6

Diluted weighted average ordinary shares outstanding
242.8

 
247.4

 
243.2

 
248.8
Components of Accumulated Other Comprehensive Loss, Net of Related Tax
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
 
Postretirement Benefit Obligation (2)
 
Total
Balance at December 31, 2018
$
(15
)
 
$
(1,319
)
 
$
(2,575
)
 
$
(3,909
)
Other comprehensive income (loss) before reclassifications, net
(8
)
 
28

 
5

 
25

Amounts reclassified from accumulated other comprehensive income:
 
 


 


 


Amounts reclassified from accumulated other comprehensive income
8

 
—

 
52

 
60

Tax expense
(1
)
 
—

 
(12
)
 
(13
)
Amounts reclassified from accumulated other comprehensive income, net
7

 
—

 
40

 
47

Net current period other comprehensive income (loss)
(1
)
 
28

 
45

 
72

Balance at June 30, 2019
$
(16
)
 
$
(1,291
)
 
$
(2,530
)
 
$
(3,837
)
(1)
Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Revenue, Interest expense, and Compensation and benefits in the accompanying Condensed Consolidated Statements of Income. Refer to Note 15 “Derivatives and Hedging” for further information regarding the Company’s derivative and hedging activity.
(2)
Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income (expense).