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Shareholders' Equity | 12 Months Ended
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Dec. 31, 2023
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Equity Shares of common stock The following table summarizes total shares of common stock outstanding:
| December 31
Millions of shares | 2023 | 2022
Issued | 1,065 |  | 1,066 |
In treasury | (176) |  | (164) |
Total shares of common stock outstanding | 889 |  | 902 |
Our Board of Directors has authorized a program to repurchase a specified dollar amount of our common stock from time to time. The program does not require a specific number of shares to be purchased and the program may be effected through solicited or unsolicited transactions in the market or in privately negotiated transactions. The program may be terminated or suspended at any time. We purchased 22.7 million shares of our common stock under the program during the year ended December 31, 2023. During the year ended December 31, 2022 we purchased 6.8 million shares of our common stock under the program. Approximately $4.1 billion remained authorized for repurchases as of December 31, 2023. From the inception of this program in February 2006 through December 31, 2023, we repurchased approximately 253 million shares of our common stock for a total cost of approximately $10.1 billion. Paid-in Capital in Excess of Par Value During 2023, 2022 and 2021, we issued common stock from treasury shares under our employee stock purchase plan awards and for restricted stock grants. As a result, additional paid in capital would have resulted in a balance below zero. Therefore, for the years ended December 31, 2023, 2022 and 2021, we reduced retained earnings by $98 million, $275 million, and $277 million, respectively. Additional issuances from treasury shares could similarly impact additional paid in capital and retained earnings. Preferred stock Our preferred stock consists of five million total authorized shares at December 31, 2023, of which none are issued. Accumulated other comprehensive loss Accumulated other comprehensive loss consisted of the following:
|  | December 31
Millions of dollars | 2023 | 2022
Cumulative translation adjustment | $ | (84) |  | $ | (84) |
Defined benefit and other postretirement liability adjustments (a) | (207) |  | (101) |
Other | (40) |  | (45) |
Total accumulated other comprehensive loss | $ | (331) |  | $ | (230) |
(a) | Included net actuarial losses for our international pension plans of $209 million at December 31, 2023 and $98 million at December 31, 2022.

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