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Share Repurchase Program
9 Months Ended
Sep. 30, 2014
Proceeds from (Repurchase of) Equity [Abstract]  
Share repurchase program
NOTE 5 – SHARE REPURCHASE PROGRAM

Under the Company's share repurchase program, as approved by the Board of Directors, the Company may, from time to time, repurchase shares of its common stock, solely through open market purchases effected through a broker dealer at prevailing market prices, based on a variety of factors such as price, corporate trading policy requirements and overall market conditions. The Company and its Board of Directors may increase or otherwise modify, renew, suspend or terminate the share repurchase program at any time, without prior notice. As announced on February 5, 2014, the Company's Board of Directors approved a resolution to increase the cumulative authorization amount by an additional $500 million and, as announced on August 13, 2014, the Company's Board of Directors approved a resolution to increase the cumulative authorization amount by an additional $500 million to $4.5 billion. The additional $500 million authorizations are each effective for three-year periods, which began on February 5, 2014, and August 13, 2014, respectively.

The following table identifies shares of the Company’s common stock that have been repurchased as part of the Company’s publicly announced share repurchase program (in thousands, except per share data):

 
For the Three Months Ended 
 September 30,
 
For the Nine Months Ended 
 September 30,
 
2014
 
2013
 
2014
 
2013
Shares repurchased
2,542

 
1,534

 
4,564

 
6,548

Average price per share
$
152.42

 
$
120.71

 
$
150.55

 
$
104.93

Total investment
$
387,461

 
$
185,226

 
$
687,086

 
$
687,064



As of September 30, 2014, the Company had $458.6 million remaining under its share repurchase program. Subsequent to the end of the third quarter and through November 7, 2014, the Company repurchased an additional 1.1 million shares of its common stock under its share repurchase program, at an average price of $151.05, for a total investment of $172.3 million. The Company has repurchased a total of 46.3 million shares of its common stock under its share repurchase program since the inception of the program in January of 2011 and through November 7, 2014, at an average price of $90.99, for a total aggregate investment of $4.2 billion.