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Shareholders' equity | 9 Months Ended
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Sep. 30, 2017
Stockholders' Equity Note [Abstract] |
Shareholders' equity | Shareholders’ equity All of Chubb’s Common Shares are authorized under Swiss corporate law. Though the par value of Common Shares is stated in Swiss francs, Chubb continues to use U.S. dollars as its reporting currency for preparing consolidated financial statements. Under Swiss corporate law, dividends, including distributions through a reduction in par value (par value reduction) or from legal reserves, must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. At September 30, 2017, our Common Shares had a par value of CHF 24.15 per share. At our May 2016 and 2015 annual general meetings, our shareholders approved an annual dividend for the following year of up to $2.76 per share and $2.68 per share, respectively, which were paid in four quarterly installments of $0.69 per share and $0.67 per share, respectively, at dates determined by the Board of Directors (Board) after the annual general meetings by way of a distribution from capital contribution reserves, transferred to free reserves for payment. At our May 2017 annual general meeting, our shareholders approved an annual dividend for the following year of up to $2.84 per share, expected to be paid in four quarterly installments of $0.71 per share after the annual general meeting by way of distribution from capital contribution reserves, transferred to free reserves for payment. The Board will determine the record and payment dates at which the annual dividend may be paid until the date of the 2018 annual general meeting, and is authorized to abstain from distributing a dividend at its discretion. The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):
| Three Months Ended |  |  | Nine Months Ended |
| September 30 |  |  | September 30 |
| 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
CHF |  |  | USD |  |  | CHF |  |  | USD |  |  | CHF |  |  | USD |  |  | CHF |  |  | USD |
Total dividend distributions per common share | 0.68 |  |  | $ | 0.71 |  |  | 0.67 |  |  | $ | 0.69 |  |  | 2.06 |  |  | $ | 2.11 |  |  | 2.01 |  |  | $ | 2.05 |
Common Shares in treasury are used principally for issuance upon the exercise of employee stock options, grants of restricted stock, and purchases under the Employee Stock Purchase Plan (ESPP). At September 30, 2017, 15,625,345 Common Shares remain in treasury after net shares redeemed under employee share-based compensation plans. Chubb Limited securities repurchase authorization There was no share repurchase program from January 2016 through October 2016. In November 2016, the Board authorized a share repurchase program of $1.0 billion of Chubb's Common Shares through December 31, 2017. Repurchases of Chubb's Common Shares conducted in a series of open market transactions from January 1, 2017 through October 31, 2017 under the Board authorization are as follows:
(in millions of U.S. dollars, except share data) | Three Months Ended September 30, 2017 |  |  | Nine Months Ended September 30, 2017 |  |  | October 1, 2017 through October 31, 2017 |
Number of shares repurchased | 1,615,383 |  |  | 5,033,013 |  |  | 25,000 |
Cost of shares repurchased | $ | 232 |  |  | $ | 707 |  |  | $ | 4 |
Repurchase authorization remaining at end of period | $ | 293 |  |  | $ | 293 |  |  | $ | 289 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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