Stockholders' Equity

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Stockholders' Equity

Stockholders' Equity

The Company's Board of Directors has authorized a stock repurchase program of the Company's common stock from time to time on the open market or through privately negotiated transactions. In 2022, the Company's Board of Directors authorized increases under the program including $3,000 million in June 2022 and an additional $2,000 million in December 2022. With these increases, the Company is authorized to repurchase up to $6,000 million, inclusive of past authorizations. As of June 30, 2023, the Company had a remaining amount of $2,029 million available under the stock repurchase program. In July 2023, the Company repurchased an additional 4.5 million shares for $300 million.

The following represents the Company's share repurchase activity ($ in millions, shares in thousands):

		Three Months Ended June 30,						Six Months Ended June 30,
		2023			2022			2023			2022
		Shares	Cost		Shares	Cost		Shares	Cost		Shares	Cost
Share buybacks		6,028	$	400	4,188	$	344	10,880	$	777	4,188	$	344
Income tax withholding		71	5		61	5		767	51		907	76
Total share repurchases (1)		6,099	$	405	4,249	$	349	11,647	$	828	5,095	$	420
(1)	Excludes share repurchase excise tax of $3 million accrued as of June 30, 2023.

Shares repurchased for income tax withholding are shares withheld in connection with employee stock plans to meet applicable tax withholding requirements. These shares are typically included in the Company's treasury stock.