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Stockholders' Deficit
9 Months Ended
Sep. 30, 2019
Stockholders' Equity Note [Abstract]  
Stockholders' (Deficit) Equity Stockholders’ Deficit
Effective February 7, 2019, the Company’s Board of Directors authorized the repurchase of the Company’s common stock in the amount of approximately $602.9 million, in addition to the $397.1 million remaining available for repurchase under the Company’s share repurchase program, for a total repurchase authorization of up to $1.0 billion under the share repurchase program. The share repurchase program has no expiration date. Purchases made under the program can be made through open market transactions, block purchases, accelerated share repurchase agreements or other negotiated transactions. During the three and nine months ended September 30, 2019, the Company repurchased 1.0 million and 2.9 million shares of its common stock, respectively, at an average stock price of $204.13 and $189.39, respectively. The aggregate cost of the repurchases in the three and nine months ended September 30, 2019 was $194.0 million and $543.9 million, respectively. As of September 30, 2019, there was approximately $522.1 million remaining available for future share repurchases under the share repurchase program.
During the nine months ended September 30, 2019, the Company placed 0.2 million shares, at an average stock price of $180.43, and for an aggregate cost of $39.6 million, into treasury stock for purposes related to tax withholding upon vesting of Restricted Stock Units (“RSUs”).
Since inception, the Company has repurchased 235.4 million shares of its common stock for an aggregate cost of $10.0 billion, which is presented as a reduction of Additional paid-in capital.