Shareholders' Equity (Notes)

6 Months Ended

Jun. 30, 2015

Stockholders' Equity Note Disclosure [Text Block]

Shareholders' Equity

Share Repurchase Program

Under its Board of Directors’ authorization, the Company maintains a share repurchase program. The objectives of the share repurchase program are to optimize the Company’s capital structure and cost of capital, thereby improving returns to shareholders, as well as to offset the dilutive impact of share-based awards. Repurchases may be made from time to time in open market purchases or other types of transactions (including prepaid or structured repurchase programs), subject to certain Board restrictions. During the six months ended June 30, 2015, the Company repurchased 9 million shares at an average price of $111.56 per share and an aggregate cost of $953 million. As of June 30, 2015, the Company had Board authorization to purchase up to 63 million shares of its common stock.

Dividends

In June 2015, the Company’s Board of Directors increased the Company’s quarterly cash dividend to shareholders to equal an annual dividend rate of $2.00 per share compared to the annual dividend rate of $1.50 per share, which the Company had paid since June 2014. Declaration and payment of future quarterly dividends is at the discretion of the Board and may be adjusted as business needs or market conditions change.

The following table provides details of the Company’s 2015 dividend payments:

Payment Date	Amount per Share		Total Amount Paid
			(in millions)
March 24, 2015	$	0.3750	$	357
June 24, 2015	0.5000		476