Repurchase of CenturyLink Common Stock

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Repurchase of CenturyLink Common Stock

Repurchase of CenturyLink Common Stock

In February 2014, our Board of Directors authorized a 24-month program to repurchase up to an aggregate of $1 billion of our outstanding common stock. This program took effect on May 29, 2014, immediately upon the completion of our predecessor 2013 stock repurchase program. During the three months endedMarch 31, 2015, we repurchased 4.5 million shares of our outstanding common stock in the open market under our 2014 stock repurchase program. These shares were repurchased for an aggregate market price of $170 million, or an average purchase price of $37.53 per share. The repurchased common stock has been retired. As of March 31, 2015, we had approximately $630 million remaining available for stock repurchases under the 2014 stock repurchase program. As of May 4, 2015, we had repurchased 11.7 million shares for $439 million, or an average price of $37.60 per share, under our 2014 stock repurchase program.