Common Share Repurchases

9 Months Ended

Sep. 30, 2016

Common Share Repurchases disclosure

Common Share Repurchases disclosure [Text Block]

8. COMMON SHARE REPURCHASES

During the three months and nine months ended September 30, 2016, the Company repurchased 4.7 million and 14.7 million shares, respectively, under its share repurchase authorization, for a total cost of $550 million and $1.65 billion, respectively.  The average cost per share repurchased was $117.25 and $112.50, respectively.  At September 30, 2016, the Company had $1.68 billion of capacity remaining under its share repurchase authorization.  In addition, during the three months and nine months ended September 30, 2016, the Company acquired 0.1 million and 0.6 million shares, respectively, for a total cost of $12 million and $71 million, 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 exercise price of certain stock options that were exercised.