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SHAREHOLDERS' EQUITY (TABLES) | 3 Months Ended
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Mar. 31, 2016
Stockholders' Equity Note [Abstract] |
COMMON SHARES ISSUED AND OUTSTANDING | The following table presents our common shares issued and outstanding:
|  | Three months ended March 31, |
|  | 2016 |  | 2015 |
| Shares issued, balance at beginning of period | 176,240 |  |  | 175,478 |  |
| Shares issued | 316 |  |  | 712 |  |
| Total shares issued at end of period | 176,556 |  |  | 176,190 |  |
| Treasury shares, balance at beginning of period | (80,174 | ) |  | (76,052 | ) |
| Shares repurchased | (3,910 | ) |  | (290 | ) |
| Shares reissued from treasury | 431 |  |  | 371 |  |
| Total treasury shares at end of period | (83,653 | ) |  | (75,971 | ) |
| Total shares outstanding | 92,903 |  |  | 100,219 |  |
SHARE REPURCHASES | The following table presents our share repurchases:
|  | Three months ended March 31, |
|  | 2016 |  | 2015 |
| In the open market: |  |  |  |
| Total shares(1) | 3,704 |  |  | 16 |  |
| Total cost | $ | 185,000 |  |  | $ | 832 |  |
| Average price per share(2) | $ | 49.94 |  |  | $ | 50.69 |  |
| From employees: |  |  |  |
| Total shares | 206 |  |  | 274 |  |
| Total cost | $ | 11,011 |  |  | $ | 13,939 |  |
| Average price per share(2) | $ | 53.45 |  |  | $ | 50.97 |  |
| Total shares repurchased: |  |  |  |
| Total shares | 3,910 |  |  | 290 |  |
| Total cost | $ | 196,011 |  |  | $ | 14,771 |  |
| Average price per share(2) | $ | 50.13 |  |  | $ | 50.95 |  |
(1) Amounts in 2016 include 1,358,380 common shares acquired under the accelerated share repurchase program (see below for more detail). (2) Calculated using whole figures. Accelerated Share Repurchase Program On August 17, 2015, the Company entered into an Accelerated Share Repurchase agreement with Goldman, Sachs & Co. (“Goldman Sachs”) to repurchase an aggregate of $300 million of the Company’s ordinary shares under an accelerated share repurchase program. During August, 2015, under the terms of this agreement, the Company paid $300 million to Goldman Sachs and initially repurchased 4,149,378 ordinary shares. The initial shares acquired represented 80% of the $300 million total paid to Goldman Sachs and were calculated using the Company’s stock price at activation of the program. The ASR program is accounted for as an equity transaction. Accordingly, as at December 31, 2015, $240 million of common shares repurchased were included as treasury shares in the Consolidated Balance Sheet with the remaining $60 million included as a reduction to additional paid-in capital. On January 15, 2016, Goldman Sachs early terminated the ASR agreement and delivered 1,358,380 additional common shares to the Company, resulting in the reduction from additional paid-in capital of $60 million being reclassified to treasury shares. In total, the Company repurchased 5,507,758 common shares under the ASR agreement at an average price of 54.47.

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