Common Stock

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Common Stock

Common Stock

During 2016, the Company repurchased 12.7 million shares of its common stock for total consideration of $800 million. In November 2016, the Board of Directors renewed the Company's share repurchase program, allowing management to buy back up to $2.5 billion of the Company's common stock. The Company remains authorized to purchase additional shares of its common stock up to a value of approximately $2.4 billion. There is no time limit on the authorization. During 2015, the Company purchased 24.8 million shares of its common stock for total consideration of $1.4 billion.