Common Share Repurchases

6 Months Ended

Jun. 30, 2020

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

Common Share Repurchases

COMMON SHARE REPURCHASES

During the three months ended June 30, 2020, the Company did not repurchase any common shares under its share repurchase authorization. For the six months ended June 30, 2020, the Company repurchased 3.5 million shares under its share repurchase authorization, for a total cost of $425 million.  The average cost per share repurchased was $123.09.  In addition, the Company acquired 368 shares and 0.3 million shares for a total cost of approximately $33,000 and $46 million during the three months and six months ended June 30, 2020, 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 June 30, 2020, the Company had $1.36 billion of capacity remaining under its share repurchase authorization.