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Equity | 6 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
Equity | EQUITY On February 2, 2022, we announced our board of directors approved an incremental $5.0 billion share repurchase authorization. The authorization has no expiration date. We may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, tender offers, accelerated share repurchases or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing and amount of future repurchases, if any, will depend upon several factors, including market and business conditions, and such repurchases may be suspended or discontinued at any time. Total share repurchases were as follows for the respective periods:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions, except per share data) | 2022 |  | 2021 |  | 2022 |  | 2021
Number of shares repurchased | 34 |  |  | 16 |  |  | 71 |  |  | 16 |
Cash paid for shares repurchased | $ | 3,331 |  |  | $ | 984 |  |  | $ | 6,177 |  |  | $ | 984 |
Average cost per share | $ | 95.46 |  |  | $ | 63.00 |  |  | $ | 85.31 |  |  | $ | 63.00 |
As of June 30, 2022, MPC had $4.17 billion remaining under its share repurchase authorizations,

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