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Equity
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Equity
14. EQUITY
Equity Repurchase Program
During the six months ended June 30, 2024 and 2023, the Company repurchased $700 (7.3 million shares) and $700 (9.7 million shares), respectively, of common stock under Board authorized share repurchase programs covering the applicable periods. As of June 30, 2024, the Company has $648 remaining for equity repurchases under the current $3.0 billion share repurchase program, which is effective until December 31, 2024. During the period July 1, 2024 through July 24, 2024, the Company repurchased $105 (1.0 million shares) under this repurchase program.
In addition to the authorization covering the period from August 1, 2022 to December 31, 2024, in July, 2024, the Board of Directors approved a share repurchase authorization for up to $3.3 billion effective from August 1, 2024 to December 31, 2026.
The timing of any repurchases is dependent on several factors, including the market price of the Company's securities, the Company's capital position, consideration of the effect of any repurchases on the Company's financial strength or credit ratings, the Company's blackout periods, and other considerations