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ACCELERATED SHARE REPURCHASE (Tables)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Accelerated Share Repurchases

The following table summarizes the terms of the ASR agreements (dollars and shares in millions, except per share data):

						Initial Delivery										Final Settlement
Agreement Date		Amount Paid				Shares Received			Price per Share (a)				Value of Shares as % of Contract Value			Settlement Date		Total Shares Received			Average Price per Share (a)
April 2018		$	400.0			2.5			$	127.36			80	%		July 2018		2.8			$	142.37
May 2019		$	150.0			0.7			$	178.66			80	%		May 2019		0.8			$	178.42
May 2019		$	100.0			0.5			$	170.02			80	%		June 2019		0.6			$	178.46

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- Definition

Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 25
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6405686&loc=d3e22802-112653

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- References

No definition available.

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