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Share Capital
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
SHARE CAPITAL
SHARE CAPITAL

The number of common shares and common share equivalents issued are represented in the table below:
In millions
Year ended December 31, 2014
 
Year ended December 31, 2013
 
Year ended December 31, 2012
Common shares issued
490.4

 
490.4

 
490.4

Less: Treasury shares for which dividend and voting rights do not apply
(60.5
)
 
(57.3
)
 
(49.0
)
Common shares outstanding
429.9

 
433.1

 
441.4



During the year ended December 31, 2014, the company repurchased 7.4 million shares (three months ended December 31, 2014: 1.2 million shares) in the market at a cost of $269.6 million (three months ended December 31, 2014: $50.0 million cost) (year ended December 31, 2013: 13.9 million shares, at a cost of $470.5 million). Separately, an aggregate of 2.1 million shares were withheld on vesting events during the year ended December 31, 2014 to meet employees' withholding tax obligations (December 31, 2013: 2.4 million). The fair value of these shares withheld at the respective withholding dates was $73.3 million (December 31, 2013: $64.9 million). In October 2013, the company's board of directors authorized a $1.5 billion share repurchase program with no stated expiration date. Approximately $1,226.8 million remained authorized under the company's share repurchase plan at December 31, 2014 (December 31, 2013: $1,496.5 million).

Total treasury shares at December 31, 2014 were 69.4 million (December 31, 2013: 66.8 million), including 8.9 million unvested restricted stock awards (December 31, 2013: 9.5 million) for which dividend and voting rights apply. The market price of common shares at the end of 2014 was $39.52. The total market value of the company's 69.4 million treasury shares was $2.7 billion at December 31, 2014.

Movements in Treasury Shares comprise:
In millions
Year ended December 31, 2014
 
Year ended December 31, 2013
 
Year ended December 31, 2012
Beginning balance
66.8

 
59.2

 
54.0

Acquisition of common shares
9.5

 
16.3

 
13.2

Distribution of common shares
(5.8
)
 
(7.2
)
 
(6.3
)
Common shares distributed to meet ESPP obligation
(0.2
)
 
—

 
—

Common shares distributed to meet option exercises
(0.9
)
 
(1.5
)
 
(1.7
)
Ending balance
69.4

 
66.8

 
59.2