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Share Repurchase Program
3 Months Ended
Mar. 31, 2014
Proceeds from (Repurchase of) Equity [Abstract]  
Share repurchase program
NOTE 5 – SHARE REPURCHASE PROGRAM

Under the Company's share repurchase program, as approved by the Board of Directors, the Company may, from time to time, repurchase shares of its common stock, solely through open market purchases effected through a broker dealer at prevailing market prices, based on a variety of factors such as price, corporate trading policy requirements and overall market conditions. The Company and its Board of Directors may increase or otherwise modify, renew, suspend or terminate the share repurchase program at any time, without prior notice. As announced on February 5, 2014, the Company's Board of Directors approved a resolution to increase the cumulative authorization amount by an additional $500 million, raising the cumulative authorization under the share repurchase program to $4.0 billion. The additional $500 million authorization is effective for a three-year period, beginning on February 5, 2014.

The following table identifies shares of the Company’s common stock that have been repurchased as part of the Company’s publicly announced share repurchase program (in thousands, except per share data):

 
For the Three Months Ended
March 31,
 
2014
 
2013
Shares repurchased
149

 
2,468

Average price per share
$
148.18

 
$
92.35

Total investment
$
22,065

 
$
227,893



As of March 31, 2014, the Company had $623.7 million remaining under its share repurchase program. Subsequent to the end of the first quarter and through May 9, 2014, the Company repurchased an additional 0.3 million shares of its common stock under its share repurchase program, at an average price of $145.55, for a total investment of $48.5 million. The Company has repurchased a total of 41.1 million shares of its common stock under its share repurchase program since the inception of the program in January of 2011 and through May 9, 2014, at an average price of $83.35, for a total aggregate investment of $3.4 billion.