XML 29 R16.htm IDEA: XBRL DOCUMENT v3.20.2
STOCKHOLDERS’ EQUITY
6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Stock Options Award Modification
In the first quarter of 2020, we modified the terms of stock option awards granted to 123 employees. Specifically, we extended the term for certain stock options that were scheduled to expire in the first quarter of 2020 as applicable employees were not permitted to exercise these awards due to our announcement in February 2020 that our previously issued financial statements should no longer be relied upon. The stock options were extended in order to allow impacted employees to exercise their stock option awards for a brief period once we became current with our SEC reporting obligations, which occurred in March 2020. As a result of the modifications, we recognized an additional $8 million of stock compensation expense during the three months ended March 31, 2020.
Cash Dividends
Cash dividends declared per share for the three and six months ended June 30, 2020 were $0.245 and $0.465, respectively. Cash dividends declared per share for the three and six months ended June 30, 2019 were $0.22 and $0.41, respectively.
Stock Repurchase Programs
In July 2012, the Board of Directors authorized the repurchase of up to $2.0 billion of our common stock. The Board of Directors increased this authority by an additional $1.5 billion in each of November 2016 and February 2018 and by an additional $2.0 billion in November 2018. During the first half of 2020, we did not repurchase any shares under this authority. During the first half of 2019, we repurchased 9.5 million shares pursuant to Rule 10b5-1 plans and otherwise. We had $897 million remaining available under the authorization as of June 30, 2020.