STOCKHOLDERS’ EQUITY

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Cash Dividends

Cash dividends declared per share for the three and six months ended June 30, 2023 were $0.29 and $0.58, respectively. Cash dividends declared per share for the three and six months ended June 30, 2022 were $0.29 and $0.57, respectively.

Stock Repurchase Programs

In July 2012, our Board of Directors authorized the repurchase of up to $2.00 billion of our common stock. Our Board of Directors increased this authority by an additional $1.50 billion in each of November 2016 and February 2018, by an additional $2.00 billion in November 2018 and by an additional $1.50 billion in October 2020. During the first half of 2023 we did not repurchase any shares under this authority. During the second quarter of 2022 we repurchased 0.1 million shares under this authority pursuant to Rule 10b5-1 plans. We had $1.30 billion remaining available under the authorization as of June 30, 2023.