STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Preferred Stock

The Company had 100,000,000 shares authorized and 250,000 shares outstanding of $25.00 par value undesignated preferred stock as of June 30, 2017 and December 31, 2016, respectively. For further detail regarding the terms and conditions of the Company’s preferred stock see Note 13 “Stockholders’ Equity” to the Company’s audited Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2016.

Treasury Stock

During the six months ended June 30, 2017, as part of its 2016 Capital Plan, the Company repurchased$260 million, or7,127,809shares, of its outstanding common stock. The repurchased shares are held in treasury stock.