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Earnings Per Share, Share Repurchases and Dividends on Common Stock (Unaudited) (Tables)
9 Months Ended
Sep. 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
(2)
 
Date Completed
 
Nine Months Ended September 30
 
2013
 
2012
June 16, 2010
 

$5,350

 
83.7

 

$63.86

 
September 2013
 
18.6

 
13.6

May 15, 2013(1)
 

$4,000

 
2.0

 

$96.39

 
 
 
2.0

 


(1)
On May 15, 2013, the company's board of directors authorized a share repurchase program of up to $4.0 billion of the company’s common stock. Repurchases under this program commenced upon the completion of the company's 2010 repurchase program in September 2013. As of September 30, 2013, our repurchases under the program totaled $196 million, and $3.8 billion remained under this share repurchase authorization.The repurchase program will expire when we have used all authorized funds for repurchase.
(2)
Includes commissions paid.