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Shareholders' Equity
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Shareholders' Equity
Shareholders' Equity

Other Comprehensive Income
 
The following tables present the changes in each component of AOCI and the effect of significant reclassifications out of AOCI on the respective line items in net income.

Changes in Accumulated Other Comprehensive Income by Component
First Quarter 2015

 
Net Unrealized
Gains (Losses) on
Investments with no Other-Than-Temporary Impairment
 
Net Unrealized
Gains (Losses) on
Investments with Other-Than-Temporary Impairment
 
Cumulative
Translation
Adjustment
 
Cash Flow Hedge
 
Total Accumulated
Other
Comprehensive
Income
 
(in millions)
Balance, December 31, 2014
$
367

 
$
4

 
$
(10
)
 
$
9

 
$
370

Other comprehensive income (loss) before reclassifications
18

 
(2
)
 
(5
)
 
—

 
11

Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
(20
)
 
4

 
—

 
—

 
(16
)
Interest expense
—

 
—

 
—

 
(1
)
 
(1
)
Total before tax
(20
)
 
4

 
—

 
(1
)
 
(17
)
Tax (provision) benefit
7

 
(1
)
 
—

 
0

 
6

Total amount reclassified from AOCI, net of tax
(13
)
 
3

 
—

 
(1
)
 
(11
)
Net current period other comprehensive income (loss)
5

 
1

 
(5
)
 
(1
)
 
0

Balance, March 31, 2015
$
372

 
$
5

 
$
(15
)
 
$
8

 
$
370



Changes in Accumulated Other Comprehensive Income by Component
First Quarter 2014

 
Net Unrealized
Gains (Losses) on
Investments with no Other-Than-Temporary Impairment
 
Net Unrealized
Gains (Losses) on
Investments with Other-Than-Temporary Impairment
 
Cumulative
Translation
Adjustment
 
Cash Flow Hedge
 
Total Accumulated
Other
Comprehensive
Income
 
(in millions)
Balance, December 31, 2013
$
178

 
$
(24
)
 
$
(3
)
 
$
9

 
$
160

Other comprehensive income (loss) before reclassifications
94

 
8

 
1

 
—

 
103

Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 


Net realized investment gains (losses)
(2
)
 
5

 
—

 
—

 
3

Interest expense
—

 
—

 
—

 
0

 
0

Total before tax
(2
)
 
5

 
—

 
0

 
3

Tax (provision) benefit
1

 
(2
)
 
—

 
(1
)
 
(2
)
Total amount reclassified from AOCI, net of tax
(1
)
 
3

 
—

 
(1
)
 
1

Net current period other comprehensive income (loss)
93

 
11

 
1

 
(1
)
 
104

Balance, March 31, 2014
$
271

 
$
(13
)
 
$
(2
)
 
$
8

 
$
264




Share Repurchase

The following table presents share repurchases by quarter since January 2013.

Share Repurchases

Period
 
Number of Shares Repurchased
 
Total Payments(in millions)
 
Average Price Paid Per Share
2013
 
12,512,759

 
$
264

 
$
21.12

2014 (January 1 - March 31)
 
1,350,443

 
35

 
25.92

2014 (April 1 - June 30)
 
7,051,842

 
177

 
25.14

2014 (July 1 - September 30)
 
9,623,309

 
226

 
23.47

2014 (October 1 - December 31)
 
6,388,187

 
152

 
23.83

Total 2014
 
24,413,781

 
590

 
24.17

2015 (January 1 - March 31)
 
5,860,291

 
152

 
25.87

Total 2015 (through March 31)
 
5,860,291

 
152

 
25.87

2015 (April 1 - through May 8)
 
2,058,927

 
56

 
27.36

Total 2015
 
7,919,218

 
208

 
26.26

Cumulative repurchases since the beginning of 2013
 
44,845,758

 
$
1,062

 
$
23.69



As of May 8, 2015, approximately $2 million of capacity remains from the August 6, 2014 $400 million share repurchase authorization. On May 6, 2015, AGL's Board of Directors approved the repurchase of an incremental $400 million of common shares.

The Company expects to repurchase shares from time to time in the open market or in privately negotiated transactions. The timing, form and amount of the share repurchases under the program are at the discretion of management and will depend on a variety of factors, including free funds available at the parent company, market conditions, the Company's capital position, legal requirements and other factors. The repurchase program may be modified, extended or terminated by the Board of Directors at any time. It does not have an expiration date.