Common Stock (Notes)

12 Months Ended

Dec. 31, 2019

Charter’s Class A common stock and Class B common stock are identical except with respect to certain voting, transfer and conversion rights. Holders of Class A common stock are entitled to one vote per share. Charter’s Class B common stock represents the share issued to A/N. One share of Charter’s Class B common stock has a number of votes reflecting the voting power of the Charter Holdings common units and Charter Holdings convertible preferred units held by A/N as of the applicable record date on an if-converted, if-exchanged basis, and is generally intended to reflect A/N’s economic interests in Charter Holdings.

The following table summarizes our shares outstanding for the three years ended December 31, 2019:



	Class A Common Stock		Class B Common Stock
BALANCE, December 31, 2016	268,897,792		1
Exchange of Charter Holdings units held by A/N (see Note 11)	1,263,497		—
Exercise of stock options	1,044,526		—
Restricted stock issuances, net of cancellations	9,517		—
Restricted stock unit vesting	1,159,083		—
Purchase of treasury stock	(33,868,356	)	—
BALANCE, December 31, 2017	238,506,059		1
Exercise of stock options	576,583		—
Restricted stock issuances, net of cancellations	10,223		—
Restricted stock unit vesting	618,649		—
Purchase of treasury stock	(14,357,707	)	—
BALANCE, December 31, 2018	225,353,807		1
Exercise of stock options	1,271,419		—
Restricted stock issuances, net of cancellations	8,284		—
Restricted stock unit vesting	728,553		—
Purchase of treasury stock	(17,386,100	)	—
BALANCE, December 31, 2019	209,975,963		1

Share Repurchases

The following represents the Company's purchase of Charter Class A common stock and the effect on the consolidated statements of cash flows during the years ended December 31, 2019, 2018 and 2017.



	Year Ended December 31,
	2019			2018			2017
	Shares	$		Shares	$		Shares	$
Share buybacks	16,697,458	$	6,734	14,108,919	$	4,322	33,375,878	$	11,570
Income tax withholding	380,797	139		224,319	77		447,455	145
Exercise cost	307,845			24,469			45,023
	17,386,100	$	6,873	14,357,707	$	4,399	33,868,356	$	11,715

As of December 31, 2019, Charter had remaining board authority to purchase an additional $1.4 billion of Charter’s Class A common stock and/or Charter Holdings common units. The Company also withholds shares of its Class A common stock in payment of income tax withholding owed by employees upon vesting of equity awards as well as exercise costs owed by employees upon exercise of stock options.

At the end of each fiscal year, Charter’s board of directors approves the retirement of the then currently outstanding treasury stock and those shares were retired as of December 31, 2019 and 2018. The Company accounts for treasury stock using the cost method and includes treasury stock as a component of total shareholders’ equity. Upon retirement, these treasury shares are allocated between additional paid-in capital and retained earnings based on the cost of original issue included in additional paid-in capital.