Stockholders' Equity

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

During the first three months of 2022, we repurchased approximately $592 million of shares of our common stock pursuant to the share repurchase program. The total remaining share repurchase authorization was approximately $1.4 billion at March 31, 2022. Purchases under the program are made at our discretion and may be in either open market transactions, including block purchases, or in privately negotiated transactions using cash on hand, cash generated from operations, or proceeds from potential asset sales. This program may be changed based upon our financial condition or changes in market conditions and is subject to termination prior to completion.

Additionally, during the first three months of 2022 we repurchased $21 million of shares related to our tax withholding obligation associated with the vesting of employee restricted stock awards and restricted stock units; these repurchases do not impact our share repurchase program authorization.

Subsequent to the quarter, we repurchased approximately $282 million of shares of our common stock through May 4, 2022. Effective May 4, 2022, our Board of Directors increased our remaining share repurchase program authorization to $2.5 billion.