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Quarterly report pursuant to Section 13 or 15(d)

CAPITAL STOCK

v3.24.2
CAPITAL STOCK
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract] Ìý
CAPITAL STOCK
NOTE 13 - CAPITAL STOCK
SHARE REPURCHASE PROGRAM
During the first quarter of 2024, we fully utilized the remaining portion of our prior $1Ìýbillion share repurchase program, which was approved by our Board of Directors on February 10, 2022.
On April 22, 2024, our Board of Directors authorized a new program to repurchase our outstanding common shares in the open market or in privately negotiated transactions, which may include purchases pursuant to Rule 10b5-1 plans or accelerated share repurchases, up to a maximum of $1.5Ìýbillion. We are not obligated to make any repurchases, and the program may be suspended or discontinued at any time. The share repurchase program does not have a specific expiration date.
During the three and six months ended JuneÌý30, 2024, we repurchased 7.5 million and 37.9 million common shares, respectively, at a cost of $124Ìýmillion and $733Ìýmillion, respectively, excluding any excise tax due under the Inflation Reduction Act. During both the three and six months ended JuneÌý30, 2023, we repurchased 6.5 million common shares at a cost of $94Ìýmillion. As of JuneÌý30, 2024, there was approximately $1.4Ìýbillion remaining authorization under our active share repurchase program.
PREFERRED STOCK
We have 3Ìýmillion shares of Serial Preferred Stock, Class A, without par value, authorized and 4 million shares of Serial Preferred Stock, Class B, without par value, authorized. No preferred shares are issued or outstanding.