Share Capital

9 Months Ended

Sep. 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	September 30, 2016		December 31, 2015
Common shares issued	490.4		490.4
Less: Treasury shares for which dividend and voting rights do not apply	(81.9	)	(72.9	)
Common shares outstanding	408.5		417.5

Total treasury shares at September 30, 2016 were 91.3 million (December 31, 2015: 81.3 million), including 9.4 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 September 30, 2016 was $31.27. The total market value of the company's 91.3 million treasury shares was $2.9 billion at September 30, 2016.