EQUITY

On October 1, 2018, in connection with the Andeavor acquisition, we amended our certificate of incorporation to increase the number of authorized shares of MPC common stock from one billion to two billion, as approved by MPC stockholders at MPC’s September 24, 2018 special meeting of stockholders.

As of December 31, 2018, we had $4.90 billion of remaining share repurchase authorizations from our board of directors. We may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing and amount of future repurchases, if any, will depend upon several factors, including market and business conditions, and such repurchases may be discontinued at any time.

Total share repurchases were as follows for the respective periods:



(In millions, except per share data)	2018		2017		2016
Number of shares repurchased	47		44		4
Cash paid for shares repurchased	$	3,287	$	2,372	$	197
Average cost per share	$	69.46	$	53.85	$	41.84