STOCKHOLDER'S EQUITY

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

STOCKHOLDER'S EQUITY

STOCKHOLDERS' EQUITY

Treasury Stock

In August 2015, the Board approved a $500.0 million multi-year repurchase program in addition to the $500.0 million multi-year program approved in August 2014, bringing the aggregate share repurchase program to $1.0 billion of Holdings' common stock. Holdings repurchased $479.8 million of common stock during 2015. As of December 31, 2015, $427.0 million remains available for purchase under the program.

Preferred Stock

Holdings is authorized to issue up to 60.0 million shares of preferred stock, par value $0.001 per share. No shares of preferred stock were issued or outstanding in 2015, 2014 and 2013.