STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 12 - STOCKHOLDERS’ EQUITY

Preferred Stock

The following table summarizes the Company’s preferred stock:

			September 30, 2022			December 31, 2021
(in millions, except per share and share data)	Liquidation value per share		Preferred Shares		Carrying Amount	Preferred Shares	Carrying Amount
Authorized ($25 par value per share)			100,000,000			100,000,000
Issued and outstanding:
Series B	$1,000		300,000		$296	300,000	$296
Series C	1,000		300,000		297	300,000	297
Series D	1,000	(1)	300,000	(2)	293	300,000	293
Series E	1,000	(1)	450,000	(3)	437	450,000	437
Series F	1,000		400,000		395	400,000	395
Series G	1,000		300,000		296	300,000	296
Total			2,050,000		$2,014	2,050,000	$2,014

(1) Equivalent to $25 per depositary share.

(2) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock.

(3) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock.

For further detail regarding the terms and conditions of the Company’s preferred stock, see Note 17 in the Company’s 2021 Form 10-K.

Dividends

	Three Months Ended September 30, 2022			Three Months Ended September 30, 2021
(in millions, except per share data)	Dividends Declared per Share	Dividends Declared	Dividends Paid	Dividends Declared per Share	Dividends Declared	Dividends Paid
Common stock	$0.42	$209	$209	$0.39	$167	$167
Preferred stock
Series A	$—	$—	$—	$—	$—	$3
Series B	—	—	9	—	—	9
Series C	15.93	5	5	15.94	5	5
Series D	15.88	5	5	15.88	5	4
Series E	12.50	6	6	12.50	6	6
Series F	14.13	6	6	14.13	6	6
Series G	10.00	3	3	12.78	4	—
Total preferred stock		$25	$34		$26	$33

	Nine Months Ended September 30, 2022			Nine Months Ended September 30, 2021
(in millions, except per share data)	Dividends Declared per Share	Dividends Declared	Dividends Paid	Dividends Declared per Share	Dividends Declared	Dividends Paid
Common stock	$1.20	$569	$569	$1.17	$502	$502
Preferred stock
Series A	$—	$—	$—	$20.99	$5	$8
Series B	30.00	9	18	30.00	9	18
Series C	47.81	15	15	47.81	15	15
Series D	47.63	14	14	47.63	14	13
Series E	37.50	17	17	37.50	17	17
Series F	42.38	17	17	42.38	17	17
Series G	30.00	9	9	12.78	4	—
Total preferred stock		$81	$90		$81	$88

Treasury Stock

During the nine months ended September 30, 2022, the Company repurchased $2 million, or 77,543 shares, of its outstanding common stock, which are held in treasury stock.