Stock Repurchases

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

Stock Repurchases

Our Board of Directors have authorized a total of $3 billion to repurchase shares of our common stock , including an incremental $500 million share repurchase authorization in December 2019, under our Share Repurchase Plans. The Share Repurchase Plans allow us to repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of December 31, 2019, $546 million of shares may yet be repurchased under the Share Repurchase Plans.

We repurchased 0.4 million shares for $100.0 million during the first quarter of 2019, 0.6 million shares for $150.0 million during the second quarter of 2019 and 0.5 million shares for $150.0 million during the third quarter of 2019, respectively, from open market transactions.

We also repurchased 0.1 million shares for $24.0 million and 0.1 million shares for $26.9 million for the years ended December 31, 2019 and 2018, respectively, from employees who tendered their shares to satisfy minimum tax withholding obligation upon the vesting of stock-based compensation awards.