Common Share Repurchases

3 Months Ended

Mar. 31, 2016

Common Share Repurchases disclosure

Common Share Repurchases disclosure [Text Block]

7.             COMMON SHARE REPURCHASES

During the three months ended March 31, 2016, the Company repurchased 5.1 million shares under its share repurchase authorization for a total cost of $550 million.  The average cost per share repurchased was $108.46.  At March 31, 2016, the Company had $2.78 billion of capacity remaining under its share repurchase authorization.  In addition, the Company acquired 0.5 million shares for a total cost of $59 million during the three months ended March 31, 2016 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 awards and shares used by employees to cover the exercise price of certain stock options that were exercised.