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Capital Stock
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Capital Stock Capital Stock
Treasury Stock
As of September 30, 2022, the Company’s treasury stock was comprised of approximately 126.6 million common stock and 7.3 million Class B shares. As of December 31, 2021, the Company’s treasury stock was comprised of approximately 124.5 million shares of common stock and 7.3 million Class B shares.
Share Repurchases. In 2018 and 2019, the Executive Committee, acting on behalf of the Board of Directors, authorized a repurchase of up to an additional 15 million shares and 20 million shares of our common stock, respectively with 23.3 million shares remaining as of December 31, 2021. During the three and nine months ended September 30, 2022, we repurchased, through open market transactions, 1.5 million shares under these authorizations for the total cost of $153 million, excluding transaction costs, representing an average repurchase price of $100.07 per share. As of September 30, 2022, there were approximately 21.8 million shares remaining under the 2018 and 2019 repurchase authorizations. There is no fixed termination date for the repurchases. Subsequent to the end of the third quarter of 2022, we repurchased an additional 0.5 million shares for a total cost of $47 million, excluding transaction costs, representing an average purchase price of $95.65 per share.
Accumulated Other Comprehensive Income (Loss)
The balance of AOCI as of September 30, 2022 and December 31, 2021 was comprised of foreign currency translation adjustments. These translation adjustments include foreign currency transaction losses at September 30, 2022 of $7 million ($10 million before tax) and $15 million ($22 million before tax) at December 31, 2021 associated with our Euro-denominated 2.5% Notes, as well as foreign currency transaction gains at September 30, 2022 of $32 million ($42 million before tax) associated with our cross-currency interest rate swaps as described in Note 3 – Fair Value Measurements. Until their redemption in March 2022, the aggregate principal value of the 2.5% Notes was designated as a hedge of our net investment in certain Euro-functional currency subsidiaries. In March 2022, we redeemed the 2.5% Notes and terminated the related hedging relationship. The currency translation adjustment amounts associated with the net investment hedge of the 2.5% Notes will remain in AOCI until realized upon a full or partial sale or liquidation of the applicable Euro-functional currency subsidiaries.