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Equity
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Equity Equity
Preferred Stock
We have 8.0 million shares of Preferred Stock authorized, of which 1.75 million shares are authorized as Series A, 1.0 million shares are authorized as Series X junior participating and 5.25 million shares are undesignated. Shares may be issued without a vote or action of shareholders from time to time in classes or series with the designations, powers, preferences and the relative, participating, optional or other special rights of the shares of each such class or series and any qualifications, limitations or restrictions thereon as set forth in the instruments governing such shares. Any such Preferred Stock may rank prior to common stock as to dividend rights, liquidation preference or both, and may have full or limited voting rights and may be convertible into shares of common stock. No shares of Preferred Stock were issued and outstanding during 2019, 2018 and 2017.
Common Stock
The following table describes the number of shares authorized, issued and outstanding of our common stock as of December 31, 2019, 2018 and 2017:
 
As of December 31, 2019
 
As of December 31, 2018
 
As of December 31, 2017
(In millions)
Authorized
 
Issued
 
Outstanding
 
Authorized
 
Issued
 
Outstanding
 
Authorized
 
Issued
 
Outstanding
Common stock
1,000.0

 
198.0

 
174.2

 
1,000.0

 
221.0

 
197.2

 
1,000.0

 
235.3

 
211.5


Share Repurchases
In December 2019 our Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock (December 2019 Share Repurchase Program). Our December 2019 Share Repurchase Program does not have an expiration date. All share repurchases under our December 2019 Share Repurchase Program will be retired. We did not repurchase shares of our common stock under our December 2019 Share Repurchase Program during the year ended December 31, 2019.
In March 2019 our Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock (March 2019 Share Repurchase Program). Our March 2019 Share Repurchase Program does not have an expiration date. All share repurchases under our March 2019 Share Repurchase Program will be retired. Under our March 2019 Share Repurchase Program, we repurchased and retired approximately 14.7 million shares of our common stock at a cost of approximately $3.7 billion during the year ended December 31, 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 and 4.3 million shares of our common stock at a cost of approximately $2.1 billion and $1.4 billion during the years ended December 31, 2019 and 2018, respectively.
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 and 3.7 million shares of common stock at a cost of approximately $3.0 billion and $1.0 billion during the years ended December 31, 2018 and 2017, respectively.
Amounts paid to repurchase shares in excess of their par value are allocated between additional paid-in capital and retained earnings, with payments in excess of our additional paid-in-capital balance recorded as a reduction to retained earnings.
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, Net of Tax
 
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
11.8

 
88.1

 
28.6

 
(1.5
)
 
103.8

 
230.8

Amounts reclassified from accumulated other comprehensive income (loss)
(3.6
)
 
(115.0
)
 
(7.0
)
 
—

 
—

 
(125.6
)
Net current period other comprehensive income (loss)
8.2

 
(26.9
)
 
21.6

 
(1.5
)
 
103.8

 
105.2

Balance, December 31, 2019
$
4.2

 
$
7.8

 
$
25.1

 
$
(32.8
)
 
$
(139.5
)
 
$
(135.2
)
(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, Net of Tax
 
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 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
(10.6
)
 
97.4

 
5.0

 
5.5

 
(67.8
)
 
29.5

Amounts reclassified from accumulated other comprehensive income (loss)
6.7

 
41.8

 
(1.5
)
 
—

 
—

 
47.0

Net current period other comprehensive income (loss)
(3.9
)
 
139.2

 
3.5

 
5.5

 
(67.8
)
 
76.5

Balance, December 31, 2018
$
(4.0
)
 
$
34.7

 
$
3.5

 
$
(31.3
)
 
$
(243.3
)
 
$
(240.4
)
(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, Net of Tax
 
Unfunded Status of Postretirement Benefit Plans, net of tax
 
Currency Translation Adjustments
 
Total
Balance, December 31, 2016
$
(10.8
)
 
$
57.8

 
$
—

 
$
(32.7
)
 
$
(334.2
)
 
$
(319.9
)
Other comprehensive income (loss) before reclassifications
(3.5
)
 
(193.8
)
 
—

 
(4.1
)
 
158.7

 
(42.7
)
Amounts reclassified from accumulated other comprehensive income (loss)
12.7

 
31.5

 
—

 
—

 
—

 
44.2

Net current period other comprehensive income (loss)
9.2

 
(162.3
)
 
—

 
(4.1
)
 
158.7

 
1.5

Balance, December 31, 2017
$
(1.6
)
 
$
(104.5
)
 
$
—

 
$
(36.8
)
 
$
(175.5
)
 
$
(318.4
)

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 Years Ended December 31,
 
2019
 
2018
 
2017
Gains (losses) on securities available for sale
 
Other income (expense)
 
$
4.5

 
$
(8.5
)
 
$
(19.5
)
 
 
Income tax benefit (expense)
 
(0.9
)
 
1.8

 
6.8

 
 
 
 
 
 
 
 
 
Gains (losses) on cash flow hedges
 
Revenues
 
118.6

 
(42.5
)
 
(32.5
)
 
 
Operating expenses
 
(3.3
)
 
0.2

 
0.6

 
 
Other income (expense)
 
0.3

 
0.3

 
0.3

 
 
Income tax benefit (expense)
 
(0.6
)
 
0.2

 
0.1

 
 
 
 
 
 
 
 
 
Gains (losses) on net investment hedge
 
Other Income (expense)
 
7.0

 
1.5

 
—

 
 
 
 
 
 
 
 
 
Total reclassifications, net of tax
 
 
 
$
125.6

 
$
(47.0
)
 
$
(44.2
)