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Stock Plans | 9 Months Ended
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Sep. 30, 2016
Stock Plans | Note 10. Stock Plans Stock Options: Stock option activity is reflected below:
|  |  |  |  | Weighted- |  |  |  |  |  |  |
|  |  |  |  | Average |  |  | Average |  |  |  |
|  |  |  |  | Exercise or |  |  | Remaining |  |  | Aggregate |
|  | Shares Subject |  |  | Grant Price |  |  | Contractual |  |  | Intrinsic |
|  | to Option |  |  | Per Share |  |  | Term |  |  | Value |
Balance at January 1, 2016 |  |  | 57,034,108 |  |  | $ | 26.12 |  |  |  | 6 years |  |  | $ | 229 million |
Annual grant to eligible employees |  |  | 7,517,290 |  |  |  | 39.70 |  |  |  |  |  |  |  |  |
Additional options issued |  |  | 97,680 |  |  |  | 43.32 |  |  |  |  |  |  |  |  |
Total options granted |  |  | 7,614,970 |  |  |  | 39.75 |  |  |  |  |  |  |  |  |
Options exercised |  |  | (7,094,555 | ) |  |  | 24.01 |  |  |  |  |  |  | $ | 139 million |
Options cancelled |  |  | (1,735,698 | ) |  |  | 35.39 |  |  |  |  |  |  |  |  |
Balance at September 30, 2016 |  |  | 55,818,825 |  |  |  | 27.95 |  |  |  | 6 years |  |  | $ | 252 million |
Deferred Stock Units, Performance Share Units and Restricted Stock: Historically we have made grants of deferred stock units, performance share units and restricted stock. Beginning in 2016, we only grant deferred stock units and performance share units and no longer grant restricted stock. Our deferred stock unit, performance share unit and restricted stock activity is reflected below: |
|  |  |  |  |  |  |  | Weighted-Average |  |  | Weighted-Average |
|  | Number of |  |  |  |  |  | Fair Value |  |  | Aggregate |
|  | Shares |  |  | Grant Date |  |  | Per Share |  |  | Fair Value |
Balance at January 1, 2016 |  |  | 9,418,216 |  |  |  |  |  |  | $ | 28.00 |  |  |  |  |
Annual grant to eligible employees: |  |  |  |  |  |  | Feb. 22, 2016 |  |  |  |  |  |  |  |  |
Performance share units |  |  | 1,406,500 |  |  |  |  |  |  |  | 39.70 |  |  |  |  |
Deferred stock units |  |  | 1,040,790 |  |  |  |  |  |  |  | 39.70 |  |  |  |  |
Additional shares granted (1) |  |  | 755,171 |  |  |  | Various |  |  |  | 29.51 |  |  |  |  |
Total shares granted |  |  | 3,202,461 |  |  |  |  |  |  |  | 37.30 |  |  | $ | 119 million |
Vested (2) |  |  | (3,903,681 | ) |  |  |  |  |  |  | 40.13 |  |  | $ | 157 million |
Forfeited (2) |  |  | (1,019,864 | ) |  |  |  |  |  |  | 37.47 |  |  |  |  |
Balance at September 30, 2016 |  |  | 7,697,132 |  |  |  |  |  |  |  | 24.46 |  |  |  |  |
| (1) | Includes performance share units and deferred stock units.
| (2) | Includes performance share units, deferred stock units and historically granted restricted stock.
Share Repurchase Program: During 2013, our Board of Directors authorized the repurchase of $7.7 billion of our Common Stock through December 31, 2016. On July 29, 2015, our Finance Committee, with authorization delegated from our Board of Directors, approved an increase of $6.0 billion in the share repurchase program, raising the authorization to $13.7 billion of Common Stock repurchases, and extended the program through December 31, 2018. Repurchases under the program are determined by management and are wholly discretionary. Prior to January 1, 2016, we had repurchased $8.2 billion of Common Stock pursuant to this authorization. During the nine months ended September 30, 2016, we repurchased 42.9 million shares of Common Stock at an average cost of $41.64 per share, or an aggregate cost of $1.8 billion, of which $1.7 billion was paid during the period. All share repurchases were funded through available cash and commercial paper issuances. As of September 30, 2016, we have $3.7 billion in remaining share repurchase capacity.

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