Common Stock

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Common Stock

Common Stock

During the first nine months of 2013, the Company repurchased 10 million shares of its common stock for consideration of $400 million. In May 2013, the Board of Directors of the Company authorized share repurchases of up to $1 billion of the Company's common stock. The Company remains authorized to purchase additional shares of its common stock up to a value of $712 million. There is no time limit on the authorization. During the first nine months of 2012, the Company repurchased 5.4 million shares of its common stock for consideration of $180 million.