Common Share Repurchases

9 Months Ended

Sep. 30, 2021

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

Common Share Repurchases

COMMON SHARE REPURCHASES

During the three and nine months ended September 30, 2021, the Company repurchased 3.8 million and 8.8 million common shares, respectively, under its share repurchase authorizations for total cost of $600 million and $1.36 billion, respectively. The average cost per share repurchased was $155.57 and $153.93, respectively.  In addition, the Company acquired 12,181 shares and 0.3 million shares for a total cost of approximately $1 million and $43 million during the three and nine months ended September 30, 2021, respectively, that were not part of its publicly announced share repurchase authorizations.  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.

On April 20, 2021, the Board of Directors approved a share repurchase authorization that added an additional $5.0 billion of repurchase capacity. At September 30, 2021, the Company had $4.81 billion of capacity remaining under its share repurchase authorizations.