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Share Repurchase Program and Treasury Stock | 9 Months Ended
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Sep. 30, 2020
Equity [Abstract] |
SHARE REPURCHASE PROGRAM AND TREASURY STOCK | SHARE REPURCHASE PROGRAM AND TREASURY STOCKIn November 2020, the Company's Board of Directors authorized an additional $2.5 billion to be added to its share repurchase program, which has $0.9 billion of remaining availability as of September 30, 2020. The share repurchases are expected to be funded from cash generated from operating activities, borrowings, and cash balances. Repurchases will be made through open market transactions, and the amount and timing of p urchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors. The Company has purchased 29.1 million shares since the inception of the program in 2004 through September 30, 2020. During the nine months ended September 30, 2020 and 2019, the Company spent $400 million and $558.7 million on the repurchase of 475,530 shares and 794,603 shares at an average price per share of $841.14 and $703.16, respectively. The Company also reissued 144,776 shares and 226,841 shares held in treasury upon the exercise of stock options and vesting of restricted stock units during the nine months ended September 30, 2020 and 2019, respectively.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2208821 + Details
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