XML 34 R46.htm IDEA: XBRL DOCUMENT v2.4.1.9
Capital Stock, Dividends and Share Repurchases (Tables)
12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Stock Repurchase Programs

The following is a summary of our share repurchases for the periods presented. We did not repurchase any shares of common stock in 2012.

 

     Years Ended December 31,
     2014(a)    2013

Shares repurchased (in thousands)

   9,569    5,368

Weighted average per share purchase price

   $43.89    $43.48 - $45.95

Total repurchases (in millions)

   $600    $239

 

(a) In February 2014, the Board of Directors authorized up to $600 million in share repurchases. During the third quarter of 2014, we entered into accelerated share repurchase (“ASR”) agreements with two financial institutions to repurchase an aggregate of $600 million of our common stock. At the beginning of the ASR repurchase periods, we delivered the $600 million in cash and received 9.6 million shares, which represented 70% of the shares expected to be repurchased based on then-current market prices. These agreements were completed in February 2015 and we received approximately 2.8 million additional shares. The final weighted average per share purchase price for the completed ASR agreements was $48.58.