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Capital Stock | 9 Months Ended
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Sep. 30, 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 of the first three quarters in 2023 and 2022:
|  | Rate per share |  |
|  | Fixed |  | Variable |  | Total |  | Total Dividends (In millions)
2023 |  |  |  |  |  |  |  |
First quarter |  | $ | 0.20 |  |  | $ | 0.37 |  |  | $ | 0.57 |  |  | $ | 438 |
Second quarter |  | 0.20 |  |  | — |  |  | 0.20 |  |  | 153 |
Third quarter |  | 0.20 |  |  | — |  |  | 0.20 |  |  | 153 |
|  | $ | 0.60 |  |  | $ | 0.37 |  |  | $ | 0.97 |  |  | $ | 744 |
2022 |  |  |  |  |  |  |  |
First quarter |  | $ | 0.15 |  |  | $ | 0.41 |  |  | $ | 0.56 |  |  | $ | 455 |
Second quarter |  | 0.15 |  |  | 0.45 |  |  | 0.60 |  | 484 |
Third quarter |  | 0.15 |  |  | 0.50 |  |  | 0.65 |  | 519 |
|  | $ | 0.45 |  |  | $ | 1.36 |  |  | $ | 1.81 |  |  | $ | 1,458 |
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 nine months ended September 30, 2023, the Company repurchased and retired 15 million shares for $388 million under its new repurchase program. As of September 30, 2023, the Company had $1.6 billion remaining under its current share repurchase program. During the nine months ended September 30, 2022, the Company repurchased 28 million shares for $740 million under its previous share repurchase program.

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