SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2020

In September 2019, our Board of Directors authorized the repurchase, for retirement, of up to $2.0 billion of shares of our common stock in open-market transactions or otherwise. During 2020, we repurchased and retired 18.8 million shares of our common stock (including 0.4 million shares to offset the dilutive impact of restricted stock units granted in 2020), for cash aggregating $727 million. At December 31, 2020, we had $774 million remaining under the 2019 authorization. Our Board of Directors authorized the repurchase, for retirement, of up to $2.0 billion shares of our common stock in open-market transactions or otherwise, effective February 10, 2021, replacing the 2019 authorization.

During 2019, we repurchased and retired 20.1 million shares of our common stock (including 0.6 million shares to offset the dilutive impact of long-term stock awards granted in 2019) for cash aggregating $896 million. During 2018, we repurchased and retired 18.6 million shares of our common stock (including 0.7 million shares to offset the dilutive impact of long-term stock awards granted in 2018) for cash aggregating $654 million.

On the basis of amounts paid (declared), cash dividends per common share were $0.545 ($0.550) in 2020, $0.495 ($0.510) in 2019 and $0.435 ($0.450) in 2018.

Accumulated Other Comprehensive Loss. The components of accumulated other comprehensive loss attributable to Masco Corporation were as follows, in millions:


	At December 31
	2020		2019
Cumulative translation adjustments, net	$	325	$	273
Unrealized loss on interest rate swaps, net	(7)		(8)
Unrecognized net loss and prior service cost, net	(460)		(444)
Accumulated other comprehensive loss	$	(142)	$	(179)

The cumulative translation adjustment, net, is reported net of income tax benefit of $1 million at both December 31, 2020 and 2019. The unrealized loss on interest rate swaps, net, is reported net of income tax expense of $5 million and $4 million at December 31, 2020 and 2019, respectively. The unrecognized net loss and prior service cost, net, is reported net of income tax benefit of $124 million and $117 million at December 31, 2020 and 2019, respectively.