Northrop Grumman 2014 Annual Report Download - page 29

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NORTHROP GRUMMAN CORPORATION
-20-
PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFLIATED PURCHASERS
The table below summarizes our repurchases of common stock during the three months ended December 31, 2014:
Period
Number
of Shares
Purchased(1)
Average
Price
Paid per
Share(2)
Numbers of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
Approximate Dollar
Value of Shares that
May Yet Be
Purchased under the
Plans or Programs
($ in millions)
October 1,960,600 $ 125.94 1,960,600 $ 799
November 1,230,310 136.40 1,230,310 632
December 1,266,013 145.55 1,266,013 3,447
Total 4,456,923 $ 134.40 4,456,923 $ 3,447
(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 ("2013 Repurchase Program"). Repurchases under the 2013 Repurchase
Program commenced in September 2013. As of December 31, 2014, repurchases under the 2013 Repurchase
Program totaled $3.6 billion; $447 million remained under this share repurchase authorization. By its terms, the
2013 Repurchase Program will expire when we have used all authorized funds for repurchases. On December 4,
2014, the company's board of directors authorized a new share repurchase program of up to an additional $3.0
billion of the company's common stock ("2014 Repurchase Program"). By its terms, repurchases under the 2014
Repurchase Program will commence upon completion of the 2013 Repurchase Program and will expire when
we have used all authorized funds for repurchases.
(2) Includes commissions paid.
Share repurchases take place from time to time, subject to market conditions and management's discretion, in the
open market or in privately negotiated transactions. The company retires its common stock upon repurchase and has
not made any purchases of common stock other than in connection with these publicly announced repurchase
programs.