Common Share Repurchases

9 Months Ended

Sep. 30, 2018

Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]

Common Share Repurchases

COMMON SHARE REPURCHASES

During the three months and nine months ended September 30, 2018, the Company repurchased 3.0 million and 8.2 million shares, respectively, under its share repurchase authorization, for a total cost of $400 million and $1.10 billion, respectively.  The average cost per share repurchased was $130.22 and $133.52, respectively.  In addition, the Company acquired 3,205 shares and 0.4 million shares for a total cost of $0.4 million and $51 million during the three months and nine months ended September 30, 2018, respectively, that were not part of the publicly announced share repurchase authorization.  These shares consisted of shares retained to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the price of certain stock options that were exercised. At September 30, 2018, the Company had $3.46 billion of capacity remaining under its share repurchase authorization.