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Earnings Per Share, Share Repurchases and Dividends on Common Stock (Unaudited) (Tables)
9 Months Ended
Sep. 30, 2014
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
 
2014
 
2013
June 16, 2010
 
$
5,350

 
83.7

 
$
63.86

 
September 2013
 

 
18.6

May 15, 2013(1)
 
$
4,000

 
25.6

 
$
115.50

 
 
 
16.9

 
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 in September 2013 upon the completion of the company's 2010 repurchase program. As of September 30, 2014, our repurchases under the program totaled $3.0 billion; $1.0 billion remained under this share repurchase authorization. The repurchase program is expected to expire when we have used all authorized funds for repurchase.
(2)
Includes commissions paid.