Repurchase of CenturyLink Common Stock

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Repurchase of CenturyLink Common Stock

Repurchase of CenturyLink Common Stock

In the first quarter of 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 2014 stock repurchase program took effect on May 29, 2014, immediately upon the completion of our predecessor 2013 stock repurchase program. During the six months ended June 30, 2015, we repurchased 7 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 approximately $260 million, or an average purchase price of $36.83 per share. The repurchased common stock has been retired. As of June 30, 2015, we had approximately $540 million remaining available for stock repurchases under the 2014 stock repurchase program.