Repurchases of Lumen Common Stock

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Repurchases of Lumen Common Stock

Repurchases of Lumen Common Stock

During the fourth quarter of 2022, our Board of Directors authorized a two-year program to repurchase up to an aggregate of $1.5 billion of our outstanding common stock. During the three and six months ended June 30, 2024, we did not repurchase any shares of our outstanding common stock under this program. As of June 30, 2024, we are authorized to purchase up to an aggregate of $1.3 billion of our outstanding common stock under this program.

Any repurchases made in 2024 or thereafter will be subject to a non-deductible 1% excise tax on the fair market value of the stock under the Inflation Reduction Act of 2022.