Capital Stock

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Capital Stock

Capital Stock

Dividends

Common Stock

In February 2024, the Company’s Board of Directors approved an increase in the base quarterly dividend from $0.20 per share to $0.21 per share.

In February 2023, the Company’s Board of Directors approved an increase in the base quarterly dividend from $0.15 per share to $0.20 per share.

The following table summarizes the Company’s dividends on its common stock:

	Rate per share
	Base		Variable		Total		Total Dividends (In millions)
2024
First quarter	$	0.21	$	—	$	0.21	$	160
Second quarter	0.21		—		0.21		158
	$	0.42	$	—	$	0.42	$	318
2023
First quarter	$	0.20	$	0.37	$	0.57	$	438
Second quarter	0.20		—		0.20		153
	$	0.40	$	0.37	$	0.77	$	591

Treasury Stock

During the six months ended June 30, 2024, the Company repurchased and retired 11 million shares for $296 million and as of June 30, 2024, had $1.3 billion remaining under its current share repurchase program.

During the six months ended June 30, 2023, the Company repurchased and retired 13 million shares for $328 million under its previous share repurchase program.