Note 5 – Stockholders’ Equity

Dividends on our Common Stock

The Executive Committee, acting on behalf of the Board of Directors, declared the following dividends during the periods presented:



Declaration Date	Dividend Per Share		Record Date	Total Amount (in millions)		Payment Date
Six Months Ended June 30, 2018
February 7, 2018	$	0.30	March 8, 2018	$	46	March 28, 2018
April 24, 2018	0.30		May 24, 2018	45		June 14, 2018
Six Months Ended June 30, 2017
February 7, 2017	0.28		March 9, 2017	42		March 30, 2017
April 26, 2017	0.28		May 25, 2017	43		June 15, 2017

In addition, in July 2018, the Executive Committee, acting on behalf of the Board of Directors, declared a quarterly cash dividend of $0.32 per share of outstanding common stock payable on September 13, 2018 to stockholders of record as of the close of business on August 23, 2018. Future declarations of dividends are subject to final determination by our Board of Directors.

Share Repurchases

In February 2015, the Executive Committee, acting on behalf of the Board of Directors, authorized a repurchase of up to 10 million shares of our common stock. In April 2018, the Executive Committee, acting on behalf of the Board of Directors, authorized a repurchase of up to an additional 15 million shares of our common stock. During the six months ended June 30, 2018, we repurchased, through open market transactions, 3.7 million shares under these authorizations for the total cost of $409 million, excluding transaction costs, representing an average repurchase price of $110.61 per share. As of June 30, 2018, there were approximately 16.2 million shares remaining under the 2015 and 2018 repurchase authorizations. There is no fixed termination date for the repurchases. Subsequent to the end of the second quarter of 2018, we repurchased an additional 0.3 million shares for a total cost of $42 million, excluding transaction costs, representing an average purchase price of $124.95 per share.

Accumulated Other Comprehensive Loss

The balance for each class of accumulated other comprehensive loss as of June 30, 2018 and December 31, 2017 is as follows:



	June 30, 2018			December 31, 2017
	(In millions)
Foreign currency translation adjustments, net of tax⁽¹⁾	$	(190	)	$	(142	)
Net unrealized loss on available for sale securities, net of tax⁽²⁾	—			(7		)
Accumulated other comprehensive loss	$	(190	)	$	(149	)


(1)	Foreign currency translation adjustments, net of tax, include foreign currency transaction losses at June 30, 2018 of $39 million ($51 million before tax) and $45 million ($71 million before tax) at December 31, 2017 associated with our 2.5% Notes. The 2.5% Notes are Euro-denominated debt designated as hedges of certain of our Euro-denominated net assets. See Note 4 – Debt for more information.


(2)	The net unrealized loss on available for sale securities before tax at December 31, 2017 was $9 million, which was reclassified to retained earnings as of January 1, 2018 upon adoption of the relevant new accounting guidance.