STOCKHOLDERS’ EQUITY

STOCK REPURCHASE PROGRAM

Through December 31, 2018, the Company’s Board of Directors (the “Board”) had authorized an aggregate of $6.2 billion of funding for the Company’s common stock repurchase program (the “Repurchase Program”) since originally established in March 2009, of which the previous authorization occurred in December 2016 when the Board increased the authorized amount available under the Repurchase Program to $3.0 billion. During the first quarter of 2017, the Company entered into an accelerated share repurchase program (the “ASR Program”) with Goldman Sachs & Co. LLC (“Goldman”) and Goldman delivered to the Company approximately 7.3 million shares of the Company’s common stock, for which the Company made a payment of $2.0 billion to Goldman. During the fourth quarter of 2017, the Company completed the ASR Program by making a final settlement payment of $274.0 million to Goldman. As of December 31, 2018, the remaining amount of share repurchases authorized by the Board under the Repurchase Program was approximately $717.5 million.

The following table provides the stock repurchase activities during the years ended December 31, 2018, 2017, and 2016 (in millions, except per share amounts):



	Years Ended December 31,
	2018		2017		2016
Shares repurchased	—		7.3		0.2
Average price per share	$	—	$	310.32	$	201.70
Value of shares repurchased	$	—	$	2,274.0	$	42.5

The Company uses the par value method of accounting for its stock repurchases. As a result of share repurchase activities during the years ended December 31, 2018, 2017, and 2016, the Company reduced common stock and additional paid-in capital by an aggregate of zero, $152.0 million, and $4.1 million, respectively, and charged zero, $2,122.0 million, $38.4 million, respectively, to retained earnings.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The components of accumulated other comprehensive income (loss) net of tax, for the years ended December 31, 2018, and 2017, are as follows (in millions):



	Year Ended December 31, 2018
	Gains (Losses) on Hedge Instruments			Unrealized Gains (Losses) on Available-for-Sale Securities			Foreign Currency Translation Gains (Losses)			Employee Benefit Plans			Total
Beginning balance	$	(2.4	)	$	(11.3	)	$	2.3		$	(4.1	)	$	(15.5	)
Other comprehensive income (loss) before reclassifications	3.6			0.3			(2.6		)	0.4			1.7
Reclassified from accumulated other comprehensive income (loss)	(1.0		)	1.2			—			0.3			0.5
Net current-period other comprehensive income (loss)	2.6			1.5			(2.6		)	0.7			2.2
Ending balance	$	0.2		$	(9.8	)	$	(0.3	)	$	(3.4	)	$	(13.3	)

	Year Ended December 31, 2017
	Gains (Losses) on Hedge Instruments			Unrealized Gains (Losses) on Available-for-Sale Securities			Foreign Currency Translation Gains (Losses)			Employee Benefit Plans			Total
Beginning balance	$	5.0		$	(8.6	)	$	(1.3	)	$	(4.0	)	$	(8.9	)
Other comprehensive income (loss) before reclassifications	(8.6		)	(2.7		)	3.6			(0.3		)	(8.0		)
Reclassified from accumulated other comprehensive income	1.2			—			—			0.2			1.4
Net current-period other comprehensive income (loss)	(7.4		)	(2.7		)	3.6			(0.1		)	(6.6		)
Ending balance	$	(2.4	)	$	(11.3	)	$	2.3		$	(4.1	)	$	(15.5	)