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STOCKHOLDERS' EQUITY | 6 Months Ended
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Jun. 30, 2020
Equity [Abstract] |
STOCKHOLDERS' EQUITY | NOTE 11 - STOCKHOLDERS’ EQUITY Preferred Stock The following table summarizes the Company’s preferred stock:
|  |  | June 30, 2020 |  | December 31, 2019
(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 |  |  | 300,000 |  |  | 293 |
Series E | 1,000 |  | (1) | 450,000 |  | (3) | 437 |  |  | 450,000 |  |  | 437 |
Series F | 1,000 |  |  | 400,000 |  |  | 395 |  |  | — |  |  | — |
Total |  |  | 2,000,000 |  |  | $1,965 |  | 1,600,000 |  |  | $1,570
(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. On June 4, 2020, the Company issued $400 million, or 400,000 shares, of 5.650% fixed-rate reset non-cumulative perpetual Series F Preferred Stock, par value of $25.00 per share with a liquidation preference of $1,000 per share (the “Series F Preferred Stock”). As a result of this issuance, the Company received net proceeds of $395 million after the underwriting discount and other expenses. The Series F Preferred Stock has no stated maturity and will not be subject to any sinking fund or other obligation of the Company. Dividends, if declared, will accrue and be payable quarterly, in arrears, at a rate equal to 5.650% from the date of issuance to, but excluding, October 6, 2025, and from and including October 6, 2025, for each dividend reset period, at a rate equal to the five-year U.S. treasury rate as of the most recent reset dividend determination date, plus 5.313% per annum. The Series F Preferred Stock is redeemable at the Company’s option, in whole or in part, on any dividend payment date, on or after October 6, 2025 or, in whole but not in part, at any time within the 90 days following a regulatory capital treatment event at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends. The Company may not redeem shares of the Series F Preferred Stock without obtaining the prior approval of the FRB if then required under applicable capital guidelines. Except in certain limited circumstances, the Series F Preferred Stock does not have any voting rights. For further detail regarding the terms and conditions of the Company’s preferred stock see Note 16 to the Company’s Consolidated Financial Statements in the 2019 Form 10-K. 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:
|  | Three Months Ended June 30, 2020 |  | Three Months Ended June 30, 2019
(in millions, except per share data) |  | Dividends Declared per Share | Dividends Declared | Dividends Paid |  | Dividends Declared per Share | Dividends Declared | Dividends Paid
Common stock |  |  | $0.39 |  |  | $168 |  |  | $168 |  |  |  | $0.32 |  |  | $148 |  |  | $148 |
Preferred stock |  |  |  |  |  |  |  |
Series A |  |  | $13.48 |  |  | $3 |  |  | $7 |  |  |  | $— |  |  | $— |  |  | $7 |
Series B |  | 30.00 |  | 9 |  | — |  |  | 30.00 |  | 9 |  | — |
Series C |  | 15.94 |  | 5 |  | 5 |  |  | 15.94 |  | 4 |  | 5 |
Series D |  | 15.88 |  | 5 |  | 5 |  |  | 15.88 |  | 5 |  | 3 |
Series E |  | 12.50 |  | 6 |  | 5 |  |  | — |  | — |  | — |
Total preferred stock |  |  |  | $28 |  |  | $22 |  |  |  |  | $18 |  |  | $15 |
|  | Six Months Ended June 30, 2020 |  | Six Months Ended June 30, 2019
(in millions, except per share and share data) |  | Dividends Declared per Share | Dividends Declared | Dividends Paid |  | Dividends Declared per Share | Dividends Declared | Dividends Paid
Common stock |  |  | $0.78 |  |  | $336 |  |  | $336 |  |  |  | $0.64 |  |  | $297 |  |  | $297 |
Preferred stock |  |  |  |  |  |  |  |
Series A |  |  | $40.98 |  |  | $10 |  |  | $7 |  |  |  | $27.50 |  |  | $7 |  |  | $7 |
Series B |  | 30.00 |  | 9 |  | 9 |  |  | 30.00 |  | 9 |  | 11 |
Series C |  | 31.88 |  | 10 |  | 10 |  |  | 31.88 |  | 9 |  | 9 |
Series D |  | 31.75 |  | 10 |  | 10 |  |  | 27.70 |  | 8 |  | 3 |
Series E |  | 25.00 |  | 11 |  | 9 |  |  | — |  | — |  | — |
Total preferred stock |  |  |  | $50 |  |  | $45 |  |  |  |  | $33 |  |  | $30 |
Treasury Stock During the six months ended June 30, 2020, the Company repurchased $270 million, or 7,548,655 shares, of its outstanding common stock, which are held in treasury stock.

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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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