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Capital Stock | 9 Months Ended
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Sep. 30, 2017
Captial Stock [Abstract] |
CAPITAL STOCK | CAPITAL STOCK Dividends During the third quarter of 2017, cash dividends of $0.10 per share were declared on July 12, 2017 and paid on September 1, 2017. During the third quarter of 2016, cash dividends of $0.07 per share were declared on July 12, 2016 and paid on September 1, 2016, and cash dividends of $0.10 per share were declared on September 7, 2016 and paid during the fourth quarter of 2016 on December 1, 2016. In the first nine months of 2017 and 2016, we paid cash dividends of $75 million and $56 million, respectively, on our common stock. On October 10, 2017, the Board of Directors (or a duly authorized committee thereof) declared cash dividends of $0.14 per share of common stock, or approximately $35 million in the aggregate, which represents an increase of $0.04 per share. The dividend will be paid on December 1, 2017 to stockholders of record as of the close of business on November 1, 2017. Future quarterly dividends are subject to Board approval. We will pay dividends of $0.44 per share during 2017, and paid dividends of $0.31 per share during 2016. Common Stock Repurchases On September 18, 2013, the Board of Directors approved our common stock repurchase program. From time to time, the Board of Directors has approved increases in the amount authorized to be purchased under that program. On February 2, 2017, the Board of Directors approved a further increase in that authorization to an aggregate of $2.1 billion. This program expires on December 31, 2019. We intend to repurchase shares of common stock in open market transactions in order to offset new shares issued under equity compensation programs and to provide for additional shareholder returns. During the third quarter of 2017, we repurchased 5,592,239 shares at an average price, including commissions, of $31.29 per share, or $175 million in the aggregate. During the first nine months of 2017, we repurchased 6,435,359 shares at an average price, including commissions, of $31.88 per share, or $205 million in the aggregate. Since 2013, we repurchased 37,649,469 shares at an average price, including commissions, of $29.71 per share, or $1,118 million in the aggregate. In addition, we may repurchase shares delivered to us by employees as payment for the exercise price of stock options and the withholding taxes due upon the exercise of the stock options or the vesting or payment of stock awards. During the first nine months of 2017, we did not repurchase any shares from employees.

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