XML 114 R19.htm IDEA: XBRL DOCUMENT v3.19.3
Equity
9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Equity Equity
Share Repurchases
In March 2019 our Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock (2019 Share Repurchase Program). Our 2019 Share Repurchase Program does not have an expiration date. All share repurchases under our 2019 Share Repurchase Program will be retired. Under our 2019 Share Repurchase Program, we repurchased and retired approximately 3.1 million and 7.0 million shares of our common stock at a cost of approximately $717.9 million and $1.6 billion during the three and nine months ended September 30, 2019, respectively.
From October 1, 2019 through October 21, 2019, we repurchased and retired approximately 2.3 million shares of our common stock at a cost of approximately $508.6 million under our 2019 Share Repurchase Program. Approximately $2.9 billion remained available under our 2019 Share Repurchase Program as of October 21, 2019.
In August 2018 our Board of Directors authorized a program to repurchase up to $3.5 billion of our common stock (2018 Share Repurchase Program), which was completed as of June 30, 2019. All share repurchases under our 2018 Share Repurchase Program were retired. Under our 2018 Share Repurchase Program, we repurchased and retired approximately 8.9 million shares of our common stock at a cost of approximately $2.1 billion during the nine months ended September 30, 2019.
In July 2016 our Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock (2016 Share Repurchase Program), which was completed as of June 30, 2018. All share repurchases under our 2016 Share Repurchase Program were retired. Under our 2016 Share Repurchase Program, we repurchased and retired approximately 10.5 million shares of our common stock at a cost of approximately $3.0 billion during the nine months ended September 30, 2018.
Accumulated Other Comprehensive Income (Loss)
The following tables summarize the changes in accumulated other comprehensive income (loss), net of tax by component:
(In millions)
 
Unrealized Gains (Losses) on Securities Available for Sale, Net of Tax
 
Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax
 
Gains (Losses) on Net Investment Hedge
 
Unfunded Status of Postretirement Benefit Plans, Net of Tax
 
Currency Translation Adjustments
 
Total
Balance, December 31, 2018
 
$
(4.0
)
 
$
34.7

 
$
3.5

 
$
(31.3
)
 
$
(243.3
)
 
$
(240.4
)
Other comprehensive income (loss) before reclassifications
 
11.6

 
115.8

 
53.5

 
1.5

 
51.3

 
233.7

Amounts reclassified from accumulated other comprehensive income (loss)
 
(1.3
)
 
(77.7
)
 
(6.6
)
 

 

 
(85.6
)
Net current period other comprehensive income (loss)
 
10.3

 
38.1

 
46.9

 
1.5

 
51.3

 
148.1

Balance, September 30, 2019
 
$
6.3

 
$
72.8

 
$
50.4

 
$
(29.8
)
 
$
(192.0
)
 
$
(92.3
)

(In millions)
 
Unrealized Gains (Losses) on Securities Available for Sale, Net of Tax
 
Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax
 
Gains (Losses) on Net Investment Hedge
 
Unfunded Status of Postretirement Benefit Plans, Net of Tax
 
Currency Translation Adjustments
 
Total
Balance, December 31, 2017
 
$
(1.6
)
 
$
(104.5
)
 
$

 
$
(36.8
)
 
$
(175.5
)
 
$
(318.4
)
Amounts reclassified, net of tax, upon adoption of ASU No. 2016-01
 
1.5

 

 

 

 

 
1.5

Balance, January 1, 2018
 
(0.1
)
 
(104.5
)
 

 
(36.8
)
 
(175.5
)
 
(316.9
)
Other comprehensive income (loss) before reclassifications
 
(7.9
)
 
58.3

 

 
0.2

 
(38.8
)
 
11.8

Amounts reclassified from accumulated other comprehensive income (loss)
 
6.1

 
50.7

 

 

 

 
56.8

Net current period other comprehensive income (loss)
 
(1.8
)
 
109.0

 

 
0.2

 
(38.8
)
 
68.6

Balance, September 30, 2018
 
$
(1.9
)
 
$
4.5

 
$

 
$
(36.6
)
 
$
(214.3
)
 
$
(248.3
)

The following table summarizes the amounts reclassified from accumulated other comprehensive income:
(In millions)
Income Statement Location
 
Amounts Reclassified from Accumulated Other Comprehensive Income
 
For the Three Months
Ended September 30,
 
For the Nine Months
Ended September 30,
 
2019
 
2018
 
2019
 
2018
Gains (losses) on securities available for sale
Other income (expense)
 
$
0.6

 
$
(0.1
)
 
$
1.6

 
$
(7.7
)
 
Income tax benefit (expense)
 
(0.1
)
 

 
(0.3
)
 
1.6

 
 
 
 
 
 
 
 
 
 
Gains (losses) on cash flow hedges
Revenues
 
35.2

 
(8.4
)
 
79.8

 
(51.7
)
 
Operating expenses
 
(0.8
)
 
(0.3
)
 
(2.0
)
 
0.6

 
Other income (expense)
 
0.1

 
0.1

 
0.2

 
0.2

 
Income tax benefit (expense)
 
(0.1
)
 

 
(0.3
)
 
0.2

 
 
 
 
 
 
 
 
 
 
Gains (losses) on net investment hedge
Other income (expense)
 
2.2

 

 
6.6

 

 
Income tax benefit (expense)
 

 

 

 

 
 
 
 
 
 
 
 
 
 
Total reclassifications, net of tax
 
 
$
37.1

 
$
(8.7
)
 
$
85.6

 
$
(56.8
)