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Stockholders' Equity
 6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Stockholders' Equity
7. Stockholders’ Equity

The following table summarizes common share repurchases and issuances.

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2016      2015      2016      2015  

Common shares repurchased(1)

      13,579,381         15,190,685         32,789,662         29,844,520   

Average purchase price per share

    $ 12.90       $ 19.76       $ 11.45       $ 20.12   

Shares repurchased related to employee stock-based compensation plans(2)

      368,439         431,168         1,354,712         2,075,932   

Average purchase price per share

    $ 13.05       $ 19.83       $ 10.80       $ 20.65   

Common shares issued(3)

      467,007         633,170         2,966,592         4,218,408   

 

(1) 

Common shares purchased under our share repurchase programs.

 

(2) 

Comprises shares withheld from stock option exercises and vesting of restricted stock for employees’ tax withholding obligations and shares tendered by employees to satisfy option exercise costs.

 

(3) 

Common shares issued under our various compensation and benefit plans.

The closing price of our common stock on June 30, 2016 was $11.95.

Dividend and Share Repurchase Program

In June 2016 and March 2016, we paid a common stock dividend of $0.16 per share.

We repurchased 32.8 million shares of common stock for $375 million in the six months ended June 30, 2016. The shares were repurchased under our previously disclosed share repurchase programs. As of June 30, 2016, the remaining repurchase authority was $380 million. In the six months ended June 30, 2015, we repurchased 29.8 million shares for $600 million.