SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

Dividends

During the three months ended March 31, 2019, the Company declared and paid cash dividends of $0.35 per share, or $43 million.

Common Stock Repurchase

In August 2015, the Board of Directors authorized a $1 billion share repurchase program. As of March 31, 2019, the Company has repurchased 6.1 million shares for $451 million under this program.

Share repurchase activity (in millions, except share amounts):

	Three Months Ended March 31,
	2019			2018
	Shares	Amount		Shares	Amount
2015 Repurchase Program—$1 billion	214,891	$	13	185,661	$	13

Accumulated Other Comprehensive Loss

Components of accumulated other comprehensive loss, net of tax (in millions):

	March 31, 2019			December 31, 2018
Related to marketable securities	$	1		$	(11	)
Related to employee benefit plans	(434		)	(440		)
Related to interest rate derivatives	—			3
Total	$	(433	)	$	(448	)

Earnings Per Share (EPS)

Diluted EPS is calculated by dividing net income by the average number of common shares outstanding plus the number of additional common shares that would have been outstanding assuming the exercise of in-the-money stock options and restricted stock units, using the treasury-stock method. For the three months ended March 31, 2019 and 2018, anti-dilutive shares excluded from the calculation of EPS were not material.