Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Preferred Stock: Our Board of Directors is authorized to issue, at any time, without further stockholder approval, up to 5.0 million shares of preferred stock, and to determine the price, rights, privileges, and preferences of such shares.

Common Stock: At December 31, 2015, we were authorized to issue up to 1.150 billion shares of common stock of which shares of common stock issued totaled 940.1 million.

Treasury Stock: During the period of April 2009 through December 2015, our Board of Directors has approved repurchases of up to an aggregate $17.500 billion of our common stock, including the June 2015 authorization to repurchase an additional $4.000 billion of our common stock. We repurchased $3.251 billion, $2.928 billion, and $2.769 billion of treasury stock under the program in 2015, 2014 and 2013, respectively, excluding transaction fees. As of December 31, 2015 an aggregate 146.9 million common shares were repurchased under the program at an average price of $92.67 per common share and total cost of $13.610 billion.

Other: When employee awards of RSUs vest and are settled net in order to fulfill minimum statutory tax withholding requirements, the shares withheld are reflected as treasury stock.

A summary of changes in common stock issued and treasury stock is presented below (in millions of shares):

	Common Stock	Common Stock in Treasury
December 31, 2012	880.9	(78.7	)
Exercise of stock options and conversion of restricted stock units	25.0	(0.5	)
Issuance of common stock for employee benefit plans	0.6	—
Shares repurchased under share repurchase program	—	(22.3	)
December 31, 2013	906.5	(101.5	)
Exercise of stock options and conversion of restricted stock units	18.3	(1.3	)
Issuance of common stock for employee benefit plans	—	0.2
Shares repurchased under share repurchase program	—	(22.0	)
December 31, 2014	924.8	(124.6	)
Exercise of stock options and conversion of restricted stock units	15.3	(1.2	)
Issuance of common stock for employee benefit plans	—	0.4
Shares repurchased under share repurchase program	—	(28.1	)
December 31, 2015	940.1	(153.5	)