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Stockholders' Equity
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Stockholders' Equity
7. Stockholders’ Equity

The following table summarizes common share repurchases and issuances.

 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
     2016      2015      2016      2015  

Common shares repurchased(1)

      14,347,974         12,075,388         47,137,636         41,919,908   

Average purchase price per share

    $ 13.95       $ 14.51       $ 12.21       $ 18.50   

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

      1,145,017         211,829         2,499,729         2,287,761   

Average purchase price per share

    $ 14.20       $ 15.46       $ 12.36       $ 20.17   

Common shares issued(3)

      1,558,455         563,109         4,525,047         4,781,517   

 

(1) 

Common shares purchased under our share repurchase program.

 

(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 September 30, 2016 was $14.47.

Dividend and Share Repurchase Program

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

We repurchased 47.1 million shares of common stock for $575 million in the nine months ended September 30, 2016. The shares were repurchased under our previously disclosed share repurchase program. As of September 30, 2016, the remaining repurchase authority was $180 million. In the nine months ended September 30, 2015, we repurchased 41.9 million shares for $775 million.