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Stockholders' Equity
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Stockholder Rights Plan

In January 2017, the Company’s Board of Directors authorized the adoption of a short-term stockholder rights plan, with an expiration date in January 2018. Effective May 3, 2017, the Company terminated the rights plan. Pursuant to the rights plan, the Company declared a dividend of one preferred share purchase right for each outstanding share of common stock, payable to holders of record as of the close of business on February 2, 2017. Each right, which was exercisable only in the event any person or group were to acquire a voting or economic position of 10% or more of the Company’s outstanding common stock (with certain limited exceptions), would have entitled any holder other than the person or group whose ownership position had exceeded the ownership limit to purchase common stock having a value equal to twice the $90 exercise price of the right, or, at the election of the Board of Directors, to exchange each right for one share of common stock (subject to adjustment). On May 3, 2017, the Company also entered into a new cooperation agreement with SRS Investment Management LLC and certain of its affiliates.
 
Share Repurchases

The Company’s Board of Directors has authorized the repurchase of up to $1.5 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, 2017, the Company repurchased approximately 4.2 million shares of common stock at a cost of approximately $127 million under the program. 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. As of September 30, 2017, approximately $174 million of authorization remains available to repurchase common stock under this plan.

Total Comprehensive Income (Loss)

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,
 
 
2017
 
2016
 
2017
 
2016
Net income
$
245

 
$
209

 
$
141

 
$
194

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
Currency translation adjustments (net of tax of $9, $3, $29 and $7, respectively)
32

 
20

 
105

 
100

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

 
1

 
1

 
1

 
Net unrealized gain (loss) on cash flow hedges (net of tax of $(1), $(3), $0 and $2, respectively)
1

 
4

 
—

 
(4
)
 
Minimum pension liability adjustment (net of tax of $(1), $0, $(2) and $(1), respectively)
1

 
1

 
4

 
3

 
 
34

 
26

 
110

 
100

Comprehensive income
$
279

 
$
235

 
$
251

 
$
294

__________
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, 2017
$
(39
)
 
$
2

 
$
1

 
$
(118
)
 
$
(154
)
 
Other comprehensive income (loss) before reclassifications
105

 
(2
)
 
1

 
—

 
104

 
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
2

 
—

 
4

 
6

Net current-period other comprehensive income (loss)
105

 
—

 
1

 
4

 
110

Balance, September 30, 2017
$
66

 
$
2

 
$
2

 
$
(114
)
 
$
(44
)
 
 
 
 
 
 
 
 
 
 
 
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
)
__________
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 $39 million gain, net of tax, as of September 30, 2017 related to the Company’s hedge of its net investment in euro-denominated foreign operations (see Note 14 - Financial Instruments).
(a) 
For the three and nine months ended September 30, 2017, amounts reclassified from accumulated other comprehensive income (loss) into corporate interest expense were $1 million ($1 million, net of tax) and $3 million ($2 million, net of tax), respectively. 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.
(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.
(c) 
For the three and nine months ended September 30, 2017, amounts reclassified from accumulated other comprehensive income (loss) into selling, general and administrative expenses were $2 million ($1 million, net of tax) and $6 million ($4 million, net of tax), respectively. 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.