Share Repurchase Programs

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Share Repurchase Programs

SHARE REPURCHASE PROGRAMS

On September 7, 2021, our board of directors (our “Board”) authorized a reset in the previously existing share repurchase program to $1.0 billion, inclusive of any amounts remaining under the previous authorization as of September 30, 2021, for an additional three years beginning on October 1, 2021. On September 12, 2022, our Board authorized an increase in the existing share repurchase program by $4.0 billion for an additional three years, beginning on October 1, 2022. The following table presents information with respect to common stock repurchased under our share repurchase program (in millions, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Total shares repurchased	2.30		4.13		5.36		4.37
Weighted average price paid per share	$	146.56	$	130.64	$	146.90	$	129.20
Total cost of repurchases (1)	$	337	$	540	$	788	$	565

(1)Amount excludes associated commission fees and excise taxes incurred, which are excluded costs under the repurchase program.

As of June 30, 2023, we had approximately $2.8 billion remaining under our share repurchase program.