Common Stock

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Common Stock

Common Stock

During the first three months of 2016, the Company repurchased approximately 3.5 million shares of its common stock for consideration of $200 million. In May 2015, the Board of Directors renewed the Company's share repurchase program, allowing management to buy back up to $2 billion of the Company's common stock. At March 31, 2016, the Company remains authorized to purchase additional shares of its common stock up to a value of approximately $960 million. There is no time limit on the authorization. During the first three months of 2015, the Company repurchased approximately 5.3 million shares of its common stock for consideration of $300 million.