XML 78 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share, Share Repurchases and Dividends on Common Stock (Tables)
 6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Share Repurchases
The table below summarizes the company’s share repurchases:
 
 
 
 
 
 
 
 
Shares Repurchased
(in millions)
Repurchase Program
Authorization Date
 
Amount
Authorized
(in millions)
 
Total Shares Retired (in millions)
 
Average 
Price
Per Share(3)
 
Six Months Ended June 30
2013
 
2012
June 16, 2010(1)
 

$5,350

 
77.6

 

$61.64

 
12.6

 
9.3

May 15, 2013(2)
 

$4,000

 
—

 
—

 
—

 
—

(1)
On June 16, 2010, the company's board of directors authorized a share repurchase program of up to $2.0 billion of the company’s common stock. Following this initial authorization, the board of directors increased the remaining repurchase authorization to $4.0 billion in April 2011. After further repurchases reduced the remaining authorization to less than $1 billion, the board of directors again increased the remaining authorization to $2.0 billion in September 2012 ("2010 Repurchase Program"). As of June 30, 2013, our repurchases under the program totaled $4.8 billion, and $557 million remained under the 2010 Repurchase Program. The 2010 Repurchase Program will expire when we have used all authorized funds for repurchase.
(2)
On May 15, 2013, the company's board of directors authorized a new share repurchase program of up to $4.0 billion of the company’s common stock ("2013 Repurchase Program"). Repurchases under the 2013 Repurchase Program will commence upon completion of the 2010 Repurchase Program. The 2013 Repurchase Program will expire when we have used all authorized funds for repurchase.
(3)
Includes commissions paid.