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Equity | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Equity | Equity Treasury Stock During 2019, 2018 and 2017, we received 1.0 million shares, 1.5 million shares and 1.5 million shares, respectively, of common stock from employees to satisfy tax withholdings we made on their behalf for restricted stock and stock option exercises. We recorded the receipt of the shares as treasury stock. Stock Repurchase Program We periodically review whether to repurchase our stock. In making a determination regarding the timing and extent of any stock repurchases, we consider multiple factors that may include: overall stock market conditions, our common stock price performance, the remaining amount authorized for repurchases by our Board, the potential impact of a stock repurchase program on our debt ratings, our expected free cash flow and working capital needs, our current and future planned strategic growth initiatives, and other potential uses of our cash and capital resources. In September 2017, our Board approved an aggregate of $1.2 billion for future repurchases with no fixed expiration date. In September 2018, our Board approved an aggregate of $2.0 billion for future repurchases with no fixed expiration date. In December 2019, our Board approved an aggregate of $2.4 billion for future repurchases of our common stock with no fixed expiration date that became effective on January 1, 2020. The $2.4 billion replaced the previous amount approved by the Board of Directors. During 2019, 2018 and 2017, we repurchased 17.4 million shares, 16.3 million shares and 15.0 million shares, respectively, of our outstanding common stock at a cost of $1.5 billion, $1.2 billion and $949 million, respectively, excluding shares withheld upon vesting of equity awards. The shares repurchased are held in treasury 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 may increase or decrease the amount available for repurchases from time to time. The table below sets forth the information with respect to purchases made by or on behalf of ICE or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Exchange Act) of our common stock during the periods presented as follows:
| Shares Repurchased (in thousands) |  | Average Repurchase Price Per Share |  | Amount of Repurchases (in millions) |  | Total cumulative year-to-date shares purchased as part of publicly announced plans or programs (in thousands) |  | Approximate dollar value of shares that may yet be purchased under the plans or programs as of the end of the quarter (in millions)
2019 |  |  |  |  |  |  |  |  |
Fourth quarter | 3,661 |  |  | $ | 92.86 |  |  | $ | 340 |  |  | 17,432 |  |  | $ | 540 |
Third quarter | 3,730 |  |  | $ | 91.16 |  |  | 340 |  |  | 13,771 |  |  | $ | 880 |
Second quarter | 4,170 |  |  | $ | 81.53 |  |  | 340 |  |  | 10,041 |  |  | $ | 1,220 |
First quarter | 5,871 |  |  | $ | 74.95 |  |  | 440 |  |  | 5,871 |  |  | $ | 1,560 |
Total common stock repurchases(1) | 17,432 |  |  | $ | 83.75 |  |  | $ | 1,460 |  |  |  |  |
2018 |  |  |  |  |  |  |  |  |
Fourth quarter | 1,863 |  |  | $ | 74.99 |  |  | $ | 139 |  |  | 16,257 |  |  | $ | 2 |
Third quarter | 3,991 |  |  | $ | 75.17 |  |  | 300 |  |  | 14,394 |  |  | $ | 141 |
Second quarter | 6,298 |  |  | $ | 72.81 |  |  | 459 |  |  | 10,403 |  |  | $ | 441 |
First quarter | 4,105 |  |  | $ | 73.08 |  |  | 300 |  |  | 4,105 |  |  | $ | 900 |
Total common stock repurchases(2) | 16,257 |  |  | $ | 73.71 |  |  | $ | 1,198 |  |  |  |  |
2017 |  |  |  |  |  |  |  |  |
Fourth quarter | 3,498 |  |  | $ | 68.62 |  |  | $ | 240 |  |  | 14,967 |  |  | $ | 51 |
Third quarter | 3,642 |  |  | $ | 65.90 |  |  | 240 |  |  | 11,469 |  |  | $ | 291 |
Second quarter | 3,916 |  |  | $ | 61.28 |  |  | 240 |  |  | 7,828 |  |  | $ | 531 |
First quarter | 3,911 |  |  | $ | 58.49 |  |  | 229 |  |  | 3,911 |  |  | $ | 771 |
Total open market common stock repurchases | 14,967 |  |  | $ | 63.39 |  |  | $ | 949 |  |  |  |  |
(1)Includes 1.3 million shares purchased on the open market at a cost of $100 million and 16.1 million shares purchased under our Rule 10b5-1 trading plan at a cost of $1.4 billion. (2) Includes 2.2 million shares purchased on the open market at a cost of $159 million and 14.1 million shares purchased under our Rule 10b5-1 trading plan at a cost of $1.0 billion. Dividends 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, our current and future planned strategic growth initiatives 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. We declared and paid cash dividends per share during the periods presented as follows:
| Dividends Per Share |  | Amount (in millions)
2019 |  |  |
Fourth quarter | $ | 0.275 |  |  | $ | 154 |
Third quarter | 0.275 |  |  | 155 |
Second quarter | 0.275 |  |  | 155 |
First quarter | 0.275 |  |  | 157 |
Total cash dividends declared and paid | $ | 1.10 |  |  | $ | 621 |
2018 |  |  |
Fourth quarter | $ | 0.24 |  |  | $ | 138 |
Third quarter | 0.24 |  |  | 138 |
Second quarter | 0.24 |  |  | 139 |
First quarter | 0.24 |  |  | 140 |
Total cash dividends declared and paid | $ | 0.96 |  |  | $ | 555 |
2017 |  |  |
Fourth quarter | $ | 0.20 |  |  | $ | 118 |
Third quarter | 0.20 |  |  | 119 |
Second quarter | 0.20 |  |  | 119 |
First quarter | 0.20 |  |  | 120 |
Total cash dividends declared and paid | $ | 0.80 |  |  | $ | 476 |
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 |  | Fair value of available-for-sale securities |  | Total
Balance, as of January 1, 2017 |  | $ | (345 | ) |  | $ | 2 |  |  | $ | (109 | ) |  | $ | 108 |  |  | $ | (344 | )
Other comprehensive income (loss) |  | 203 |  |  | — |  |  | 28 |  |  | (108 | ) |  | 123 |
Income tax benefit (expense) |  | 6 |  |  | — |  |  | (8 | ) |  | — |  |  | (2 | )
Net current period other comprehensive income (loss) |  | 209 |  |  | — |  |  | 20 |  |  | (108 | ) |  | 121 |
Balance, as of December 31, 2017 |  | (136 | ) |  | 2 |  | — |  | (89 | ) | — |  | — |  |  | (223 | )
Other comprehensive income (loss) |  | (91 | ) |  | — |  |  | 33 |  |  | — |  |  | (58 | )
Net impact of adoption of ASU 2018-02 |  | (1 | ) |  | — |  |  | (25 | ) |  | — |  |  | (26 | )
Income tax benefit (expense) |  | 1 |  |  | — |  |  | (9 | ) |  | — |  |  | (8 | )
Net current period other comprehensive income (loss) |  | (91 | ) |  | — |  |  | (1 | ) |  | — |  |  | (92 | )
Balance, as of December 31, 2018 |  | (227 | ) |  | 2 |  | — |  | (90 | ) | — |  | — |  |  | (315 | )
Other comprehensive income (loss) |  | 51 |  |  | (1 | ) |  | 32 |  |  | — |  |  | 82 |
Income tax benefit (expense) |  | (1 | ) |  | — |  |  | (9 | ) |  | — |  |  | (10 | )
Net current period other comprehensive income (loss) |  | 50 |  |  | (1 | ) |  | 23 |  |  | — |  |  | 72 |
Balance, as of December 31, 2019 |  | (177 | ) |  | 1 |  |  | (67 | ) |  | — |  |  | (243 | )

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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