Share Capital

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

SHARE CAPITAL

SHARE CAPITAL

The number of common shares and common share equivalents issued are represented in the table below:

	As of
In millions	June 30, 2016		December 31, 2015
Common shares issued	490.4		490.4
Less: Treasury shares for which dividend and voting rights do not apply	(80.5	)	(72.9	)
Common shares outstanding	409.9		417.5

Total treasury shares at June 30, 2016 were 90.0 million (December 31, 2015: 81.3 million), including 9.5 million unvested restricted stock awards (December 31, 2015: 8.4 million) for which dividend and voting rights apply. The market price of common shares at June 30, 2016 was $25.54. The total market value of the company's 90.0 million treasury shares was $2.3 billion at June 30, 2016.

Unsettled market share repurchases during the second quarter of 2016 included 4.7 million shares, included in treasury shares at June 30, 2016, at cost of $120 million under the $150 million Accelerated Share Repurchase program announced on June 30, 2016.