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STOCKHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
STOCKHOLDERS' EQUITY
STOCKHOLDERS’ EQUITY
Share Repurchase Program

On May 2, 2014, the Company entered into an accelerated share repurchase program (the “ASR Program”) with Goldman, Sachs & Co. (“Goldman”) to repurchase $1.0 billion of the Company’s common stock under the stock repurchase program (the “Repurchase Program”) approved by the Company’s Board of Directors in 2009. After the ASR Program, as of June 30, 2014, the Company had used all amounts authorized for repurchase under the Repurchase Program.
During the three months ended June 30, 2014, the Company made an up-front payment of $1.0 billion pursuant to the ASR Program and received and retired 2.5 million shares ("Minimum Shares") of the Company’s common stock with an aggregate market value of $905.1 million on the date of the transaction, which was accounted for as a reduction to common stock and additional paid-in capital by an aggregate of $89.6 million and $815.5 million to retained earnings. The remaining $94.9 million was recorded as a forward contract as a reduction to additional paid-in capital. The Company reflects the ASR Program as a repurchase of common stock in the period delivered for purposes of calculating earnings per share and as forward contract indexed to its own common stock. The ASR Program met all of the applicable criteria for equity classification, and therefore, was not accounted for as a derivative instrument.
The total number of shares of the Company's common stock that will ultimately be received under the ASR Program will be based upon the average daily volume weighted average price of the Company's stock during the repurchase period, less an agreed upon discount. Final settlement of the transaction under the ASR Program is expected to be completed by early November 2014, although the completion date may be accelerated at Goldman’s option no earlier than July 7, 2014. If the Minimum Shares are less than the total number of shares that will be ultimately received under the ASR Program, then Goldman will be required to deliver additional shares of common stock to the Company at settlement.
The following table provides the share repurchase activities during the three and six months ended June 30, 2014, and 2013 (in millions, except per share amounts):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Shares repurchased
2.5

 
0.5

 
2.5

 
0.8

Average price per share
(a)

 
$
493.49

 
(a)

 
$
491.28

Value of shares repurchased
(a)

 
$
269.6

 
(a)

 
$
415.4



(a) The number of shares represents shares delivered in the second quarter of 2014 and does not represent the final number of shares to be delivered under the ASR Program. Therefore, the average price paid per share will be determined at the end of the applicable purchase period.

Accumulated Other Comprehensive Income
The components of accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2014, and 2013, are as follows (in millions):
 
Three Months Ended June 30, 2014
 
Gains (Losses)
on Hedge
Instruments
 
Unrealized Gains
(Losses) on Securities
 
Foreign
Currency
Translation
Gains (Losses)
 
Employee Benefit Plans
 
Total
Beginning balance
$
0.2

 
$
5.5

 
$
0.7

 
$
(2.6
)
 
$
3.8

Other comprehensive income before reclassifications
(0.1
)
 
(2.5
)
 
—

 
—

 
(2.6
)
Reclassified from accumulated other comprehensive income
(0.2
)
 
(0.5
)
 
—

 
0.1

 
(0.6
)
Net current-period other comprehensive loss
(0.3
)
 
(3.0
)
 
—

 
0.1

 
(3.2
)
Ending balance
$
(0.1
)
 
$
2.5

 
$
0.7

 
$
(2.5
)
 
$
0.6

 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2013
 
Gains (Losses)
on Hedge
Instruments
 
Unrealized Gains
(Losses) on Securities
 
Foreign
Currency
Translation
Gains (Losses)
 
Employee Benefit Plans
 
Total
Beginning balance
$
0.8

 
$
7.3

 
$
—

 
$
—

 
$
8.1

Other comprehensive income before reclassifications
0.2

 
(10.2
)
 
0.1

 
—

 
(9.9
)
Reclassified from accumulated other comprehensive income
(0.4
)
 
0.1

 
—

 
—

 
(0.3
)
Net current-period other comprehensive loss
(0.2
)
 
(10.1
)
 
0.1

 
—

 
(10.2
)
Ending balance
$
0.6

 
$
(2.8
)
 
$
0.1

 
$
—

 
$
(2.1
)
 
Six Months Ended June 30, 2014
 
Gains (Losses)
on Hedge
Instruments
 
Unrealized Gains
(Losses) on Securities
 
Foreign
Currency
Translation
Gains (Losses)
 
Employee Benefit Plans
 
Total
Beginning balance
$
—

 
$
1.7

 
$
0.4

 
$
—

 
$
2.1

Other comprehensive income before reclassifications
0.4

 
1.4

 
0.3

 
(2.6
)
 
(0.5
)
Reclassified from accumulated other comprehensive income
(0.5
)
 
(0.6
)
 
—

 
0.1

 
(1.0
)
Net current-period other comprehensive loss
(0.1
)
 
0.8

 
0.3

 
(2.5
)
 
(1.5
)
Ending balance
$
(0.1
)
 
$
2.5

 
$
0.7

 
$
(2.5
)
 
$
0.6

 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2013
 
Gains (Losses)
on Hedge
Instruments
 
Unrealized Gains
(Losses) on Securities
 
Foreign
Currency
Translation
Gains (Losses)
 
Employee Benefit Plans
 
Total
Beginning balance
$
—

 
$
6.2

 
$
0.4

 
$
—

 
$
6.6

Other comprehensive income before reclassifications
1.6

 
(9.3
)
 
(0.3
)
 
—

 
(8.0
)
Reclassified from accumulated other comprehensive income
(1.0
)
 
0.3

 
—

 
—

 
(0.7
)
Net current-period other comprehensive loss
0.6

 
(9.0
)
 
(0.3
)
 
—

 
(8.7
)
Ending balance
$
0.6

 
$
(2.8
)
 
$
0.1

 
$
—

 
$
(2.1
)