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STOCKHOLDERS' EQUITY | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
STOCKHOLDERS' EQUITY | NOTE 16 - STOCKHOLDERS’ EQUITY Preferred Stock The following table provides the number of authorized preferred shares, the number of issued and outstanding, the liquidation value per share and the carrying amount as of December 31:
|  |  | 2019 |  | 2018
(in millions, except per share and share data) | Liquidation value per share |  | Preferred Shares |  | Carrying Amount |  | Preferred Shares | Carrying Amount
Authorized ($25 par value) |  |  | 100,000,000 |  |  |  |  | 100,000,000 |  |
Issued and outstanding |  |  |  |  |  |  |  |
Series A | $1,000 |  | 250,000 |  |  | $247 |  | 250,000 |  | $247
Series B | 1,000 |  |  | 300,000 |  | 296 |  |  | 300,000 |  | 296 |
Series C | 1,000 |  |  | 300,000 |  |  | 297 |  |  | 300,000 |  | 297 |
Series D | 1,000 |  | (1) | 300,000 |  | (2) | 293 |  |  | — |  | — |
Series E | 1,000 |  | (1) | 450,000 |  | (3) | 437 |  |  | — |  | — |
Total issued and outstanding |  |  | 1,600,000 |  |  | $1,570 |  | 850,000 |  | $840
(1) Equivalent to $25 per depositary share. (2) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock. (3) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock. The following table provides information related to the Company’s preferred stock outstanding as of December 31, 2019:
(in millions, except per share and share data)
Preferred Stock | Issue Date | Number of Shares Issued | Dividend Dates(3) | Annual Per Share Dividend Rate | Optional Redemption Date(4)
Series A(1) | April 6, 2015 | 250,000 | Semi-annually beginning October 6, 2015 until April 6, 2020 | 5.500% until April 6, 2020 | April 6, 2020
|  |  | Quarterly beginning July 6, 2020 | 3 Mo. LIBOR plus 3.960% beginning April 6, 2020 |
Series B(1) | May 24, 2018 | 300,000 | Semi-annually beginning January 6, 2019 until July 6, 2023 | 6.000% until July 6, 2023 | July 6, 2023
|  |  | Quarterly beginning October 6, 2023 | 3 Mo. LIBOR plus 3.003% beginning July 6, 2023 |
Series C(1) | October 25, 2018 | 300,000 | Quarterly beginning January 6, 2019 until April 6, 2024 | 6.375% until April 6, 2024 | April 6, 2024
|  |  | Quarterly beginning July 6, 2024 | 3 Mo. LIBOR plus 3.157% beginning April 6, 2024 |
Series D(1) | January 29, 2019 | 300,000(5) | Quarterly beginning April 6, 2019 until April 6, 2024 | 6.350% until April 6, 2024 | April 6, 2024
|  |  | Quarterly beginning July 6, 2024 | 3 Mo. LIBOR plus 3.642% beginning April 6, 2024 |
Series E(2) | October 28, 2019 | 450,000(6) | Quarterly beginning January 6, 2020 | 5.000% | January 6, 2025
(1) Series are non-cumulative fixed-to-floating rate perpetual preferred stock. Except in limited circumstances, the preferred stock does not have voting rights. (2) Series are non-cumulative fixed rate perpetual preferred stock. Except in limited circumstances, the preferred stock does not have voting rights. (3) Dividends are payable when, and if, declared by the Company’s Board of Directors or an authorized committee thereof. (4) Redeemable at the Company’s option, in whole or in part, on any dividend payment date on or after the date stated, or in whole but not in part, at any time within 90 days following a regulatory capital treatment event a as defined in the applicable certificate of designations, in each case at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends, without accumulation of any undeclared dividends. Under current rules, any redemption is subject to approval by the FRB. (5) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock. (6) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock. Dividends The following table provides information related to dividends per share and in the aggregate, declared and paid, for each type of stock issued and outstanding for the year ended December 31:
|  | 2019 |  | 2018 |  | 2017
(in millions, except per share and share data) |  | Dividends per Share | Dividends Declared | Dividends Paid |  | Dividends per Share | Dividends Declared | Dividends Paid |  | Dividends per Share | Dividends Declared | Dividends Paid
Common stock |  |  | $1.36 |  |  | $617 |  |  | $617 |  |  |  | $0.98 |  |  | $471 |  |  | $471 |  |  |  | $0.64 |  |  | $322 |  |  | $322 |
Preferred stock |  |  |  |  |  |  |  |  |  |  |  |
Series A |  |  | $55.00 |  |  | $14 |  |  | $14 |  |  |  | $55.00 |  |  | $14 |  |  | $14 |  |  |  | $55.00 |  |  | $14 |  |  | $14 |
Series B |  | 60.00 |  | 18 |  | 20 |  |  | 37.00 |  | 11 |  | — |  |  | — |  | — |  | — |
Series C |  | 63.75 |  | 19 |  | 18 |  |  | 12.57 |  | 4 |  | — |  |  | — |  | — |  | — |
Series D |  | 59.45 |  | 18 |  | 13 |  |  | — |  | — |  | — |  |  | — |  | — |  | — |
Series E |  | 9.44 |  | 4 |  | — |  |  | — |  | — |  | — |  |  | — |  | — |  | — |
Total preferred stock |  |  |  | $73 |  |  | $65 |  |  |  |  | $29 |  |  | $14 |  |  |  |  | $14 |  |  | $14 |
Treasury Stock The purchase of the Company’s common stock is recorded at cost. At the date of retirement or subsequent reissuance, treasury stock is reduced by the cost of such stock on a first-in, first-out basis with differences recorded in additional paid-in capital or retained earnings, as applicable. During the year ended December 31, 2019, the Company paid $1.220 billion to repurchase 34,305,768 common shares at a weighted-average price of $35.56. During the year ended December 31, 2019, the Company recorded no shares of treasury stock associated with share-based compensation plan activity. During the year ended December 31, 2018, the Company paid $1.025 billion to repurchase 25,773,807 common shares at an average price of $39.77. During the year ended December 31, 2018, the Company recorded no shares of treasury stock associated with share-based compensation plan activity.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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