Common Stock

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Common Stock

Common Stock

During the first three months of 2014, the Company repurchased approximately 2 million shares of its common stock for consideration of $100 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 $463 million. There is no time limit on the authorization. During the first three months of 2013, the Company repurchased 2.7 million shares of its common stock for consideration of $100 million.