Common Stock

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Common Stock

Common Stock

During the first nine months of 2016, the Company repurchased approximately 10 million shares of its common stock for consideration of $625 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 September 30, 2016, the Company remains authorized to purchase additional shares of its common stock up to a value of approximately $530 million. There is no time limit on the authorization. During the first nine months of 2015, the Company repurchased approximately 23.4 million shares of its common stock for consideration of $1.3 billion.