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20.CapitalTransactions
RepurchaseProgram
OnNovember5,2008,weannouncedthatourBoardofDirectorsauthorizedastockrepurchase
programunderwhichwewereabletorepurchaseupto$1billionofourcommonstock.OnJuly31,2009,
ourBoardofDirectorsauthorizedanincreaseof$250milliontothestockrepurchaseprogrambringingthe
totalauthorizationto$1.25billion.
ThroughDecember31,2009,werepurchased114millionsharesofourcommonstockfor
$1,235millionundertheprogram.Inaddition,wehadagreedtorepurchase1.3millionsharesofour
commonstockatanaveragepricepershareof$11.32foravalueof$15millionthathadnotyetsettledat
December31,2009.Thiscompletedourinitial$1.25billionstockrepurchaseprogram.
OnFebruary10,2010,weannouncedthatourBoardofDirectorsauthorizedanewstock
repurchaseprogramunderwhichwemayrepurchaseupto$1billionofourcommonstockontermsand
conditionstobedeterminedbytheCompanyuntiltheearlierofDecember31,2010oradeterminationby
theBoardofDirectorstodiscontinuetherepurchaseprogram.
21.AccumulatedOtherComprehensiveIncome(Loss)
Thecomponentsofaccumulatedothercomprehensiveincome(loss)atDecember31,2009and
2008wereasfollows(amountsinmillions):
At
December31,
2009
2008
Foreigncurrencytranslationadjustment..........................................................
$(22)
$(41)
Unrealizedappreciation(depreciation)oninvestments,netof
deferredincometaxesof$(2)forbothDecember31,2009and
2008................................................................................................
(2)
(2)
Accumulatedothercomprehensiveincome(loss)................................
$(24)
$(43)
Incometaxeswerenotprovidedforforeigncurrencytranslationitemsastheseareconsidered
indefiniteinvestmentsinnonU.S.subsidiaries.
22.SupplementalCashFlowInformation
Supplementalcashflowinformationisasfollows(amountsinmillions):
Fortheyearsended
December31,
2009
2008
2007
Supplementalcashflowinformation:
Cashpaidforincometaxes................................................................
$257
$151
$22
Cashpaidforinterest................................................................
5
2
(1)
23.RelatedPartyTransactions
Treasury
Ourforeigncurrencyriskpolicyseekstoreducerisksarisingfromforeigncurrencyfluctuations.
Weusederivativefinancialinstruments,primarilycurrencyforwardcontractsandswaps,withVivendias
ourprincipalcounterparty.Thegrossnotionalamountofoutstandingforeignexchangeswapswas
$120millionatDecember31,2009.Thenotionalamountsofoutstandingforwardforeignexchange
contractsandforeignexchangeswapswere$126millionand$118million,respectively,atDecember31,
2008.Apretaxnetunrealizedlossof$2millionandgainof$3millionfortheyearsendedDecember31,