SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

Common Stock Repurchase

In August 2015, the Board of Directors authorized a $1 billion share repurchase program. As of March 31, 2020, the Company has repurchased 7.6 million shares for $544 million under this program. In March 2020, the Company suspended the share repurchase program indefinitely.

Accumulated Other Comprehensive Loss

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

	March 31, 2020		December 31, 2019
Related to marketable securities	$	6	$	9
Related to employee benefit plans	(464)		(469)
Related to interest rate derivatives	(24)		(5)
Total	$	(482)	$	(465)

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, 2020 and 2019, anti-dilutive shares excluded from the calculation of EPS were not material.