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Share-Based Compensation
 6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Shareholders' Equity and Share-based Payments Share-Based Compensation and Equity
Stock Options

Stock option activity for the six months ended June 30, 2021 was as follows:
(In thousands, except per share and term data)Number of
Shares		Weighted-
Average
Exercise 
Price
(Per Share)		Aggregate
Intrinsic 
Value		Weighted-Average 
Remaining
Contractual
Term (Yrs)
Outstanding at beginning of year10,204 $58.59 
Exercised(2,763)56.18 
Forfeited and expired(108)59.56 
Outstanding as of June 30, 20217,333 $59.49 $136,929 4.57
Exercisable as of June 30, 20215,484 $58.79 $106,205 3.99

As of June 30, 2021, there was $28 million of total unrecognized compensation cost related to stock options granted under all plans. That cost is expected to be recognized over a weighted-average period of 1.59 years.

Non-vested Shares and Share Units

Non-vested share and share unit activity for the six months ended June 30, 2021 was as follows:
(In thousands, except per share data)Number of SharesWeighted-Average
Grant Date Fair Value Per Share
Outstanding at beginning of year4,131 $68.05 
Granted2,054 77.01 
Vested(1,435)65.80 
Forfeited(332)72.08 
Outstanding as of June 30, 20214,418 $72.64 

As of June 30, 2021, there was $249 million of total unrecognized compensation cost related to non-vested share and share unit awards granted under all plans. That cost is expected to be recognized over a weighted-average period of 2.23 years.

Share-Based Compensation Cost

The following table presents total compensation expense recognized with respect to stock options, non-vested shares and share units, and our associate stock purchase plan:
 Three Months EndedSix Months Ended
(In thousands)2021202020212020
Stock option and non-vested share and share unit compensation expense$53,941 $37,549 $101,891 $72,580 
Associate stock purchase plan expense1,613 1,727 3,161 2,828 
Amounts capitalized in software development costs, net of amortization
(1,463)(1,076)(3,126)(1,821)
Amounts charged against earnings, before income tax benefit$54,091 $38,200 $101,926 $73,587 
Amount of related income tax benefit recognized in earnings$10,191 $8,191 $20,447 $14,634 
Treasury Stock

Under our share repurchase program, which was initially approved by our Board of Directors on May 23, 2017, and most recently amended on December 12, 2019 (the "2017 Share Repurchase Program"), the Company is authorized to repurchase up to $3.70 billion of shares of our common stock, excluding transaction costs. The repurchases are to be effectuated in the open market, by block purchase, in privately negotiated transactions, or through other transactions managed by broker-dealers, or any combination thereof. No time limit was set for the completion of the 2017 Share Repurchase Program.

On April 23, 2021, our Board of Directors approved a new share repurchase program (the "2021 Share Repurchase Program"), which authorizes the Company to repurchase up to $3.75 billion in the aggregate of shares of our common stock, excluding transaction costs. The 2021 Share Repurchase Program is incremental to our 2017 Share Repurchase Program. The repurchases are to be effectuated in the open market, by block purchase, in privately negotiated transactions, or through other transactions managed by broker-dealers, or any combination thereof. The 2021 Share Repurchase Program will expire on December 31, 2023.

During the six months ended June 30, 2021, we repurchased 10.1 million shares for total consideration of $750 million under our share repurchase programs. The shares were recorded as treasury stock and accounted for under the cost method. No repurchased shares have been retired. As of June 30, 2021, an aggregate of $3.93 billion remained available for repurchase under the programs.

Dividends

On March 25, 2021, our Board of Directors declared a cash dividend of $0.22 per share on our issued and outstanding common stock, which was paid on April 20, 2021 to shareholders of record as of April 6, 2021. On May 19, 2021, our Board of Directors declared a cash dividend of $0.22 per share on our issued and outstanding common stock, which was paid on July 13, 2021 to shareholders of record as of June 28, 2021. In connection with the declaration of such dividends, our non-vested shares and share units are entitled to dividend equivalents, which will be payable to the holder subject to, and upon vesting of, the underlying awards. Our outstanding stock options are not entitled to dividend or dividend equivalents. At June 30, 2021 and December 31, 2020, our condensed consolidated balance sheets included liabilities for dividends payable of $68 million and $69 million, respectively, which are included in "Other current liabilities".

Accumulated Other Comprehensive Loss, Net (AOCI)

The components of AOCI, net of tax, were as follows:
 Foreign currency translation adjustment and otherUnrealized loss on cash flow hedgeUnrealized holding gain (loss) on available-for-sale investmentsTotal
(In thousands)
Balance at December 31, 2020$(93,450)$(27,788)$434 $(120,804)
Other comprehensive income (loss) before reclassifications(8,991)2,061 (217)(7,147)
Amounts reclassified from AOCI
— 2,527 — 2,527 
Balance at March 31, 2021(102,441)(23,200)217 (125,424)
Other comprehensive income (loss) before reclassifications4,486 (429)(26)4,031 
Amounts reclassified from AOCI— 2,667 (1)2,666 
Balance at June 30, 2021$(97,955)$(20,962)$190 $(118,727)
Foreign currency translation adjustment and otherUnrealized loss on cash flow hedgeUnrealized holding gain (loss) on available-for-sale investmentsTotal
(In thousands)
Balance at December 28, 2019$(106,347)$(12,578)$265 $(118,660)
Other comprehensive income (loss) before reclassifications(20,546)(20,430)(849)(41,825)
Amounts reclassified from AOCI— 1,122 — 1,122 
Balance at March 31, 2020(126,893)(31,886)(584)(159,363)
Other comprehensive income (loss) before reclassifications9,197 (3,205)1,502 7,494 
Amounts reclassified from AOCI— 2,198 — 2,198 
Balance at June 30, 2020$(117,696)$(32,893)$918 $(149,671)

The effects on net earnings of amounts reclassified from AOCI were as follows:

(In thousands)Three Months EndedSix Months Ended
AOCI ComponentLocation2021202020212020
Unrealized loss on cash flow hedgeOther income, net$(3,287)$(2,798)$(6,504)$(4,170)
Income taxes620 600 1,310 850 
Net of tax(2,667)(2,198)(5,194)(3,320)
Unrealized holding gain (loss) on available-for-sale investmentsOther income, net2 — 2 — 
Income taxes(1)— (1)— 
Net of tax1 — 1 — 
Total amount reclassified, net of tax$(2,666)$(2,198)$(5,193)$(3,320)