Capital Stock (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule Components of Issued, Repurchased and Outstanding Shares

At December 31, 2024, we had 12 billion shares of authorized common stock; issued, repurchased and outstanding shares of common stock consisted of the following:

	Shares Issued	Shares Repurchased	Shares Outstanding
Balances, December 31, 2021	2,805,961,317	(982,785,699)	1,823,175,618
Stock award activity	—	514,816	514,816
Repurchases of common stock	—	(38,156,312)	(38,156,312)
Balances, December 31, 2022	2,805,961,317	(1,020,427,195)	1,785,534,122
Stock award activity	—	676,495	676,495
Repurchases of common stock	—	(22,748,842)	(22,748,842)
Balances, December 31, 2023	2,805,961,317	(1,042,499,542)	1,763,461,775
Stock award activity	—	687,715	687,715
Repurchases of common stock	—	(73,497,623)	(73,497,623)
Balances, December 31, 2024	2,805,961,317	(1,115,309,450)	1,690,651,867

Share Repurchases

Our total share repurchase activity was as follows for the years ended December 31:

	January 2024 Share Repurchase Program		January 2023 Share Repurchase Program		January 2021 Share Repurchase Program
(in millions, except per share data)	2024 (1)		2023		2022 (2)
Total number of shares repurchased	73.5		22.7		38.1
Aggregate cost of shares repurchased	$	3,400	$	1,000	$	1,825
Average price per share of shares repurchased	$	46.26	$	43.96	$	47.83

(1) Includes 53.9 million shares repurchased under the ASR Agreements at an average price per share of $44.50.

(2) In January 2021, our Board authorized a $2.0 billion share repurchase program that it expanded to $3.5 billion in October 2021, which we completed in December 2022.