NORTHROP GRUMMAN CORP /DE/ | 2013 | FY | 3


The table below summarizes the company’s share repurchases:
Repurchase Program
Authorization Date
 
Amount
Authorized
(in millions)
 
Total Shares Retired (in millions)
 
Average 
Price
Per Share
(2)
 
Date Completed
 
Shares Repurchased
(in millions)
 
Year Ended December 31
2013
 
2012
 
2011
June 16, 2010
 

$5,350

 
83.7
 

$ 63.86

 
September 2013
 
18.6

 
20.9

 
40.2

May 15, 2013(1)
 

$4,000

 
8.7
 

$103.37

 
 
 
8.7

 

 

 
 
 
 
 
 
 
 
 
 
27.3

 
20.9

 
40.2

(1)
On May 15, 2013, the company's board of directors authorized a share repurchase program of up to $4.0 billion of the company’s common stock. Repurchases under this program commenced in September 2013 upon the completion of the company's 2010 repurchase program. As of December 31, 2013, repurchases under the program totaled $895 million, and $3.1 billion remained under this share repurchase authorization. The repurchase program is expected to expire when we have used all authorized funds for repurchase.
(2)
Includes commissions paid.

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