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Stockholders' Equity
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Share Repurchases

The Company’s Board of Directors has authorized the repurchase of up to approximately $1.2 billion of its common stock under a plan originally approved in 2013 and subsequently expanded, most recently in 2016. During the nine months ended September 30, 2016, the Company repurchased approximately 9.5 million shares of common stock at a cost of approximately $290 million under the program. During the nine months ended September 30, 2015, the Company repurchased approximately 5.9 million shares of common stock at a cost of approximately $277 million under the program. As of September 30, 2016, approximately $150 million of authorization remains available to repurchase common stock under this plan.

Total Comprehensive Income

Comprehensive income consists of net income and other gains and losses affecting stockholders’ equity that, under GAAP, are excluded from net income.

The components of other comprehensive income (loss) were as follows: 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2016
 
2015
 
2016
 
2015
Net income
$
209

 
$
184

 
$
194

 
$
318

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
Currency translation adjustments (net of tax of $3, $1, $7 and $(16), respectively)
20

 
(34
)
 
100

 
(118
)
 
Net unrealized gain (loss) on available-for-sale securities (net of tax of $0, $1, $0 and $1, respectively)
1

 
(1
)
 
1

 
(2
)
 
Net unrealized gain (loss) on cash flow hedges (net of tax of $(3), $1, $2 and $3, respectively)
4

 
(1
)
 
(4
)
 
(4
)
 
Minimum pension liability adjustment (net of tax of $0, $0, $(1) and $(1), respectively)
1

 
2

 
3

 
4

 
 
26

 
(34
)
 
100

 
(120
)
Comprehensive income
$
235

 
$
150

 
$
294

 
$
198

__________
Currency translation adjustments exclude income taxes related to indefinite investments in foreign subsidiaries.

Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) were as follows: 
 
 
Currency
Translation
Adjustments
 
Net Unrealized
Gains (Losses)
on Cash Flow
Hedges(a)
 
Net Unrealized
Gains (Losses) on
Available-for
Sale Securities (b)
 
Minimum
Pension
Liability
Adjustment(c)
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance, January 1, 2016
$
(80
)
 
$
(2
)
 
$
—

 
$
(65
)
 
$
(147
)
 
Other comprehensive income (loss) before reclassifications
100

 
(7
)
 
—

 
—

 
93

 
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
3

 
1

 
3

 
7

Net current-period other comprehensive income (loss)
100

 
(4
)
 
1

 
3

 
100

Balance, September 30, 2016
$
20

 
$
(6
)
 
$
1

 
$
(62
)
 
$
(47
)
 
 
 
 
 
 
 
 
 
 
 
Balance, January 1, 2015
$
51

 
$
(1
)
 
$
2

 
$
(74
)
 
$
(22
)
 
Other comprehensive income (loss) before reclassifications
(118
)
 
(8
)
 
(2
)
 
1

 
(127
)
 
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
4

 
—

 
3

 
7

Net current-period other comprehensive income (loss)
(118
)
 
(4
)
 
(2
)
 
4

 
(120
)
Balance, September 30, 2015
$
(67
)
 
$
(5
)
 
$
—

 
$
(70
)
 
$
(142
)
__________
All components of accumulated other comprehensive income (loss) are net of tax, except currency translation adjustments, which exclude income taxes related to indefinite investments in foreign subsidiaries and include a $58 million gain, net of tax, as of September 30, 2016 related to the Company’s hedge of its net investment in Euro-denominated foreign operations (see Note 13 - Financial Instruments).
(a) 
For the three and nine months ended September 30, 2016, amounts reclassified from accumulated other comprehensive income (loss) into corporate interest expense were $2 million ($1 million, net of tax) and $6 million ($3 million, net of tax), respectively. During the three and nine months ended September 30, 2016, amounts reclassified from accumulated other comprehensive income (loss) into vehicle interest expense were $1 million ($0 million, net of tax) in each period. For the three and nine months ended September 30, 2015, amounts reclassified from accumulated other comprehensive income (loss) into corporate interest expense were $2 million ($1 million, net of tax) and $5 million ($3 million, net of tax), respectively. During the three months ended September 30, 2015, amounts reclassified from accumulated other comprehensive income (loss) into vehicle interest expense were immaterial and during the nine months ended September 30, 2015, amounts reclassified from accumulated other comprehensive income (loss) into vehicle interest expense were $1 million ($1 million, net of tax).
(b) 
For the three and nine months ended September 30, 2016, amounts reclassified from accumulated other comprehensive income (loss) into operating expenses were $1 million ($1 million, net of tax) in each period. For the three and nine months ended September 30, 2015, amounts reclassified from accumulated other comprehensive income (loss) into operating expenses were immaterial.
(c) 
For the three and nine months ended September 30, 2016, amounts reclassified from accumulated other comprehensive income (loss) into selling, general and administrative expenses were $1 million ($1 million), net of tax) and $4 million ($3 million), net of tax), respectively. For the three and nine months ended September 30, 2015, amounts reclassified from accumulated other comprehensive income (loss) into selling, general and administrative expenses were $3 million ($2 million, net of tax) and $5 million ($3 million, net of tax), respectively.