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Shareholders' Equity
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Shareholders' Equity
Shareholders' Equity
Distributable Reserves
As a U.K. incorporated company, the Company is required under U.K. law to have available "distributable reserves" to make share repurchases or pay dividends to shareholders. Distributable reserves may be created through the earnings of the U.K. parent company and, amongst other methods, through a reduction in share capital approved by the English Companies Court. Distributable reserves are not linked to a U.S. GAAP reported amount (e.g., retained earnings). As of December 31, 2015 and 2014, the Company had distributable reserves in excess of $2.1 billion and $4.0 billion, respectively.
Ordinary Shares
In April 2012, the Company's Board of Directors authorized a share repurchase program under which up to $5.0 billion of Class A Ordinary Shares may be repurchased ("2012 Share Repurchase Program"). In November 2014, the Company's Board of Directors authorized a new $5.0 billion share repurchase program in addition to the existing program ("2014 Share Repurchase Program" and, together, the "Repurchase Programs"). Under each program, shares may be repurchased through the open market or in privately negotiated transactions, based on prevailing market conditions, funded from available capital.
During 2015, the Company repurchased 16.0 million shares at an average price per share of $97.04 for a total cost of $1.6 billion under the Repurchase Programs. During 2014, the Company repurchased 25.8 million shares at an average price per share of $87.18 for a total cost of $2.3 billion under the 2012 Share Repurchase Plan. In August 2015, the $5 billion of Class A Ordinary Shares authorized under the 2012 Share Repurchase Program was exhausted. At December 31, 2015, the remaining authorized amount for share repurchase under the 2014 Share Repurchase Program is $4.1 billion. Under the Repurchase Programs, the Company repurchased a total of 78.1 million shares for an aggregate cost of $5.9 billion.
Net Income Per Share
Weighted average shares outstanding are as follows (in millions):
 
Year ended December 31,
 
2015
 
2014
 
2013
Shares for basic earnings per share
280.8

 
295.5

 
311.4

Common stock equivalents
3.0

 
4.1

 
4.0

Shares for diluted earnings per share
283.8

 
299.6

 
315.4


Certain ordinary share equivalents may be excluded from the computation of diluted net income per share if their inclusion would be antidilutive. There were no shares excluded from the calculation for in 2015, 2014, or 2013.
Dividends
During 2015, 2014, and 2013, the Company paid dividends on its Class A Ordinary Shares of $323.1 million, $273.0 million, and $212.0 million, respectively. Dividends paid per Class A Ordinary Share were $1.15, $0.92 and $0.68 for the years ended December 31, 2015, 2014, and 2013 respectively.

Accumulated Other Comprehensive Loss
Changes in Accumulated other comprehensive loss by component, net of related tax, are as follows (in millions):
 
Change in Fair Value of Financial Instruments (1)
 
Foreign Currency Translation Adjustments
 
Post-Retirement Benefit Obligation (2)
 
Total
Balance at January 1, 2013
$
(28
)
 
$
233

 
$
(2,815
)
 
$
(2,610
)
Other comprehensive loss before reclassifications:
 
 
 
 
 
 
 
Other comprehensive loss before reclassifications
15

 
(65
)
 
336

 
286

Tax benefit
(8
)
 
1

 
(136
)
 
(143
)
Other comprehensive loss before reclassifications, net
7

 
(64
)
 
200

 
143

Amounts reclassified from accumulated other comprehensive loss:
 
 
 
 
 
 
 
Amounts reclassified from accumulated other comprehensive loss
1

 
—

 
131

 
132

Tax benefit
(1
)
 
—

 
(38
)
 
(39
)
Amounts reclassified from accumulated other comprehensive loss, net
—

 
—

 
93

 
93

Net current period other comprehensive (loss) income
7

 
(64
)
 
293

 
236

Balance at December 31, 2013
(21
)
 
169

 
(2,522
)
 
(2,374
)
Other comprehensive loss before reclassifications:
 
 
 
 
 
 
 
Other comprehensive loss before reclassifications
(13
)
 
(492
)
 
(563
)
 
(1,068
)
Tax benefit
4

 
(12
)
 
229

 
221

Other comprehensive loss before reclassifications, net
(9
)
 
(504
)
 
(334
)
 
(847
)
Amounts reclassified from accumulated other comprehensive loss:
 
 
 
 
 
 

Amounts reclassified from accumulated other comprehensive loss
20

 
—

 
106

 
126

Tax benefit
(7
)
 
—

 
(32
)
 
(39
)
Amounts reclassified from accumulated other comprehensive loss, net
13

 
—

 
74

 
87

Net current period other comprehensive (loss) income
4


(504
)
 
(260
)
 
(760
)
Balance at December 31, 2014
(17
)
 
(335
)
 
(2,782
)
 
(3,134
)
Other comprehensive loss before reclassifications:
 
 
 
 
 
 
 
Other comprehensive loss before reclassifications
(4
)
 
(467
)
 
82

 
(389
)
Tax benefit
1

 
31

 
(9
)
 
23

Other comprehensive loss before reclassifications, net
(3
)
 
(436
)
 
73

 
(366
)
Amounts reclassified from accumulated other comprehensive loss:
 
 
 
 
 
 

Amounts reclassified from accumulated other comprehensive loss
11

 
—

 
117

 
128

Tax benefit
(16
)
 
—

 
(35
)
 
(51
)
Amounts reclassified from accumulated other comprehensive loss, net
(5
)
 
—

 
82

 
77

Net current period other comprehensive (loss) income
(8
)
 
(436
)
 
155

 
(289
)
Balance at December 31, 2015
$
(25
)
 
$
(771
)
 
$
(2,627
)
 
$
(3,423
)
______________________________________________
(1) Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income
(2) Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Compensation and benefits