Capital Stock

12 Months Ended

Dec. 31, 2018

Stockholders Equity Note [Abstract]

Capital Stock

Note 9 — Capital Stock

Common Stock Outstanding

Common stock outstanding as of December 31, 2018, 2017 and 2016 was as follows:

(Number of shares in millions)	2018		2017		2016
Common stock:
Balance, beginning of year	107.8			106.7		106.0
Activity under stock plans	0.7		1.1		0.7
Balance, end of year	108.5			107.8		106.7
Treasury stock:
Balance, beginning of year	18.2		15.3		12.5
Repurchased		5.5	2.9		2.8
Balance, end of year	23.7		18.2		15.3
Common stock outstanding	84.8		89.6		91.4

In May 2018, our Board authorized the repurchase of $500 million of the Company’s stock (“2018 Repurchase Plan”). In February 2017, our Board authorized the repurchase of an $300 million of the Company’s stock (“2017 Repurchase Plan”). During 2018, 2017 and 2016, the Company spent $357.7 million, $150.3 million and $111.1 million to repurchase common stock. The 2018 repurchase included $242.5 million to complete the 2017 Repurchase Plan. At December 31, 2018, we have $384.8 million remaining under the 2018 Repurchase Plan. 

During 2018 the Company paid $48.4 million in dividends on its common stock. Dividends per share of common stock for 2018, 2017, and 2016, were $0.55, $0.47, and $0.44, respectively.