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Shareholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Schedule of Share Repurchase Agreements
The following table summarizes the Company’s Share Repurchase activity (in millions, except per share data):
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
2019 (1)
 
2018
 
2019 (1)
 
2018
Shares repurchased
1.8

 
2.1

 
8.2

 
8.8

Average price per share
$
190.83

 
$
145.71

 
$
183.26

 
$
142.15

Costs recorded to retained earnings

 

 
 
 
 
Total repurchase cost
$
350

 
$
300

 
$
1,500

 
$
1,250

Additional associated costs
—

 
1

 
7

 
6

Total costs recorded to retained earnings
$
350

 
$
301

 
$
1,507

 
$
1,256
Schedule of Components of Weighted Average Number of Shares
Weighted average ordinary shares outstanding are as follows (in millions):
 
Three Months Ended September 30
 
Nine Months Ended September 30
 
2019
 
2018
 
2019
 
2018
Basic weighted average ordinary shares outstanding
236.9

 
244.0

 
239.9

 
246.2

Dilutive effect of potentially issuable shares
2.2

 
1.6

 
2.0

 
1.5

Diluted weighted average ordinary shares outstanding
239.1

 
245.6

 
241.9

 
247.7
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
(12
)
 
(180
)
 
2

 
(190
)
Amounts reclassified from accumulated other comprehensive income
 
 


 


 


Amounts reclassified from accumulated other comprehensive income
12

 
—

 
79

 
91

Tax expense
(3
)
 
—

 
(19
)
 
(22
)
Amounts reclassified from accumulated other comprehensive income, net
9

 
—

 
60

 
69

Net current period other comprehensive income (loss)
(3
)
 
(180
)
 
62

 
(121
)
Balance at September 30, 2019
$
(18
)
 
$
(1,499
)
 
$
(2,513
)
 
$
(4,030
)
(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).