Capital Stock

9 Months Ended

Sep. 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
Third quarter	0.21		—		0.21		156
	$	0.63	$	—	$	0.63	$	474
2023
First quarter	$	0.20	$	0.37	$	0.57	$	438
Second quarter	0.20		—		0.20		153
Third quarter	0.20		—		0.20		153
	$	0.60	$	0.37	$	0.97	$	744

Treasury Stock

During the nine months ended September 30, 2024, the Company repurchased and retired 15 million shares for $404 million and as of September 30, 2024, had $1.2 billion remaining under its current share repurchase program.

During the nine months ended September 30, 2023, the Company repurchased and retired 15 million shares for $388 million under its previous share repurchase program.