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Equity
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Equity
Equity
Stock Repurchase Program
In September 2018, our Board of Directors approved an aggregate of $2.0 billion for repurchases of our common stock with no fixed expiration date that became effective January 1, 2019. During the nine months ended September 30, 2019, we repurchased 12.5 million shares of our outstanding common stock at a cost of $1.0 billion under our Rule 10b5-1 trading plan and 1.3 million shares at a cost of $100 million on the open market. As of September 30, 2019, up to $880 million remains from the Board authorization for repurchases of our common stock. We expect to fund repurchases from our operating cash flow, borrowings under our debt facilities or our Commercial Paper Program. Repurchases may be made from time to time on the open market, through established trading plans, in privately-negotiated transactions or otherwise, in accordance with all applicable securities laws, rules and regulations. We have entered into a Rule 10b5-1 trading plan, as authorized by our Board, to govern some of the repurchases of our shares of common stock. We may discontinue the stock repurchases at any time and may amend or terminate the Rule 10b5-1 trading plan at any time. The approval of our Board for the share
repurchases does not obligate us to acquire any particular amount of our common stock. In addition, our Board of Directors may increase or decrease the amount available for repurchases from time to time.
Dividends
During the nine months ended September 30, 2019 and 2018, we declared and paid cash dividends per share of $0.825 and $0.72, respectively, for an aggregate payout of $467 million and $417 million, respectively, and during the three months ended September 30, 2019 and 2018, we declared and paid cash dividends per share of $0.275 and $0.24, respectively, for an aggregate payout of $155 million and $138 million, respectively. The declaration of dividends is subject to the discretion of our Board, and may be affected by various factors, including our future earnings, financial condition, capital requirements, levels of indebtedness, credit ratings and other considerations which our Board of Directors deem relevant. Our Board has adopted a quarterly dividend declaration policy providing that the declaration of any dividends will be determined quarterly by the Board or its Audit Committee, taking into account such factors as our evolving business model, prevailing business conditions and our financial results and capital requirements, without a predetermined annual net income payout ratio.
Accumulated Other Comprehensive Income (Loss)
The following tables present changes in the accumulated balances for each component of other comprehensive income (loss) (in millions):
 
 
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Foreign currency translation adjustments
 
Comprehensive income from equity method investment
 
Employee benefit plans adjustments
 
Total
 
Balance, as of December 31, 2018
 
$
(227
)
 
$
2

 
$
(90
)
 
$
(315
)
Other comprehensive income (loss)
 
(33
)
 
(1
)
 
—

 
(34
)
Income tax benefit (expense)
 
1

 
—

 
—

 
1

Net current period other comprehensive income (loss)
 
(32
)

(1
)

—


(33
)
Balance, as of September 30, 2019
 
$
(259
)

$
1


$
(90
)

$
(348
)
 
 
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Foreign currency translation adjustments
 
Comprehensive income from equity method investment
 
Employee benefit plans adjustments
 
Total
 
Balance, as of June 30, 2019
 
$
(220
)
 
$
1

 
$
(90
)
 
$
(309
)
Other comprehensive income (loss)
 
(40
)
 
—

 
—

 
(40
)
Income tax benefit (expense)
 
1

 
—

 
—

 
1

Net current period other comprehensive income (loss)
 
(39
)
 
—

 
—


(39
)
Balance, as of September 30, 2019
 
$
(259
)
 
$
1

 
$
(90
)
 
$
(348
)
 
 
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Foreign currency translation adjustments
 
Comprehensive income from equity method investment
 
Employee benefit plans adjustments
 
Total
 
Balance, as of December 31, 2017
 
$
(136
)
 
$
2

 
$
(89
)
 
$
(223
)
Other comprehensive income (loss)
 
(52
)
 
—

 
—

 
(52
)
Income tax benefit (expense)
 
1

 
—

 
—

 
1

Net current period other comprehensive income (loss)
 
(51
)
 
—

 
—

 
(51
)
Balance, as of September 30, 2018
 
$
(187
)
 
$
2

 
$
(89
)
 
$
(274
)

 
 
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Foreign currency translation adjustments
 
Comprehensive income from equity method investment
 
Employee benefit plans adjustments
 
Total
 
Balance, as of June 30, 2018
 
$
(178
)
 
$
2

 
$
(89
)
 
$
(265
)
Other comprehensive income (loss)
 
(9
)
 
—

 
—

 
(9
)
Income tax benefit (expense)
 
—

 
—

 
—

 
—

Net current period other comprehensive income (loss)
 
(9
)
 
—

 
—

 
(9
)
Balance, as of September 30, 2018
 
$
(187
)
 
$
2

 
$
(89
)
 
$
(274
)