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Capital Stock | 3 Months Ended
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Mar. 31, 2023
Equity [Abstract] |
Capital Stock | Capital Stock Dividends Common Stock In February 2023, the Company’s Board of Directors approved an increase in the base quarterly dividend from $0.15 per share to $0.20 per share. The following table summarizes the Company’s dividends on its common stock for each quarter in 2023 and 2022:
|  | Rate per share |  |
|  | Fixed |  | Variable |  | Total |  | Total Dividends (In millions)
2023: |  |  |  |  |  |  |  |
First quarter |  | $ | 0.20 |  |  | $ | 0.37 |  |  | $ | 0.57 |  |  | $ | 438 |
2022: |  |  |  |  |  |  |  |
First quarter |  | $ | 0.15 |  |  | $ | 0.41 |  |  | $ | 0.56 |  |  | $ | 455 |
Treasury Stock In February 2023, the Company’s Board of Directors approved a new share repurchase program which authorizes the purchase of up to $2.0 billion of the Company’s common stock. During the three months ended March 31, 2023, the Company repurchased and retired 11 million shares for $268 million under its new repurchase program. As of March 31, 2023, the Company had $1.7 billion remaining under its current share repurchase program. During the three months ended March 31, 2022, the Company repurchased 8 million shares for $192 million under its previous share repurchase program.

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