Common Stock

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Common Stock

Common Stock

During the first six months of 2016, the Company repurchased approximately 7 million shares of its common stock for consideration of $425 million, including trades for approximately 0.2 million shares worth approximately $15 million purchased at the end of June that settled in early July. 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 June 30, 2016, the Company remains authorized to purchase additional shares of its common stock up to a value of approximately $730 million. There is no time limit on the authorization. During the first six months of 2015, the Company repurchased approximately 13.5 million shares of its common stock for consideration of $775 million.