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Preferred and Common Stock (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of Share Activity | Common Stock Outstanding and Share Activity (number of shares)
Balance at December 30, 2020 |  |  | 432,906,377 |
Issued for stock-based compensation plans |  |  | 2,195,681 |
Repurchase and retirement of common stock |  |  | (13,410,146) |
Balance at December 31, 2021 |  |  | 421,691,912 |
Issued for stock-based compensation plans |  |  | 1,819,651 |
Repurchase and retirement of common stock |  |  | (11,356,506) |
Balance at December 31, 2022 |  |  | 412,155,057 |
Issued for stock-based compensation plans |  |  | 2,993,340 |
Repurchase and retirement of common stock |  |  | (5,233,936) |
Balance at December 31, 2023 |  |  | 409,914,461 |
Schedule of Accelerated Share Repurchases | The following table provides details for share repurchases during 2023, 2022, and 2021:
| Number of shares |  | Average price per share(1) |  | Total
Q1 2023 open market repurchase | 576,629 |  |  | $43.36 |  | $25
Q2 2023 open market repurchase | 2,246,294 |  |  | $44.52 |  | $100
Q3 2023 open market repurchase | 506,800 |  |  | $49.32 |  | $25
Q4 2023 open market repurchase | 1,904,213 |  |  | $52.52 |  | $100
2023 Share repurchase total | 5,233,936 |  |  | $47.76 |  | $250
Q1 2022 open market repurchase | 5,147,307 |  |  | $34.00 |  | $175
Q2 2022 open market repurchase | 1,770,271 |  |  | $33.89 |  | $60
Q3 2022 open market repurchase | 2,764,846 |  |  | $36.17 |  | $100
Q4 2022 open market repurchase | 1,674,082 |  |  | $38.83 |  | $65
2022 Share repurchase total | 11,356,506 |  |  | $35.22 |  | $400
Q2 2021 accelerated share repurchase | 5,878,791 |  |  | $34.02 |  | $200
Q3 2021 open market repurchase | 769,274 |  |  | $32.50 |  | $25
Q4 2021 open market repurchase | 6,762,081 |  |  | $30.32 |  | $205
2021 Share repurchase total | 13,410,146 |  |  | $32.07 |  | $430
(1)Excludes commissions cost.
Schedule of Activity for Stock Options and Stock Awards | The activity for stock options and stock awards during 2023 was as follows (options and awards in millions in the table below):
| Stock options |  | Stock awards
| Number of options |  | Weighted average exercise price per option |  | Number of awards |  | Weighted average FMV per award
Outstanding, December 31, 2022 | 0.9 |  |  | $ | 23.86 |  |  | 6.5 |  |  | $ | 17.77 |
Granted | — |  |  | — |  |  | 0.6 |  |  | 45.25 |
Exercised | (0.4) |  |  | 25.14 |  |  | — |  |  | — |
Converted | — |  |  | — |  |  | (4.3) |  |  | 10.31 |
Expired or forfeited | — |  |  | — |  |  | (0.1) |  |  | 34.88 |
Performance share adjustment | — |  |  | — |  |  | 0.3 |  |  | 21.33 |
Outstanding, December 31, 2023 | 0.5 |  |  | $ | 22.67 |  |  | 3.0 |  |  | $ | 34.23 |

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481138/505-30-25-5 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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