Share Repurchase Plan

12 Months Ended

Dec. 31, 2017

18. Share Repurchase Plan

In March 2013, our Board of Directors authorized the repurchase of up to $4.0 billion in aggregate purchase price of our common stock. In May 2014, the Board of Directors approved an increase in the program to $6.5 billion. Repurchases under this program to date have been as follows:

	2017		2016		2015		To Date
	(In millions, except per share amounts)
Total cost of shares repurchased	$	120	$	—	$	91	$	5,471
Total number of shares repurchased		2.63		—		1.45		66.74
Average cost per share (including transaction fees)	$	45.67	$	—	$	62.76	$	81.96

As of December 31, 2017, we are authorized, but not required, to purchase additional common stock up to a value of $1.03 billion. In 2018, we plan to repurchase approximately $380 million of common stock.