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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity The following table summarizes our common share repurchases and issuances.
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(Shares and per share amounts in actuals) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Common stock repurchased under repurchase programs(1) |  | 2,929,646 |  |  | 16,389,696 |  |  | 4,240,369 |  |  | 16,389,696 |
Average purchase price per share(2) |  | $ | 21.17 |  |  | $ | 15.71 |  |  | $ | 20.91 |  |  | $ | 15.71 |
Shares repurchased related to employee stock-based compensation plans(3) |  | 8,139 |  |  | 128,212 |  |  | 691,386 |  |  | 1,077,643 |
Average purchase price per share |  | $ | 21.02 |  |  | $ | 14.64 |  |  | $ | 19.92 |  |  | $ | 15.44 |
Common shares issued(4) |  | 123,311 |  |  | 349,009 |  |  | 2,049,231 |  |  | 2,872,753 |
(1) Common shares purchased under our share repurchase programs. The 2022 Share Repurchase Program expired on January 25, 2024. There was $562 million of capacity remaining under the 2024 Share Repurchase Program at June 30, 2024. (2) Average purchase price per share includes purchase commission costs and excise taxes. (3) Comprised of shares withheld from stock option exercises and the vesting of restricted stock, restricted stock units, and performance stock units for employees’ tax withholding obligations and shares tendered by employees to satisfy option exercise costs. (4) Common shares issued under our various compensation and benefit plans. The closing price of our common stock on the NASDAQ Global Select Market on June 28, 2024 was $20.79. Common Stock Dividends In both June 2024 and June 2023, we paid a common stock dividend of $0.11 per common share. Share Repurchases On January 26, 2022, we announced a share repurchase program (the “2022 Share Repurchase Program”), which was effective upon announcement and expired on January 25, 2024, and permitted us to repurchase shares of our common stock from time to time up to an aggregate repurchase price not to exceed $1.25 billion. We did not repurchase shares of common stock under the 2022 Share Repurchase Program in the six months ended June 30, 2024. Under the 2022 Share Repurchase Program, we repurchased 16.4 million shares of common stock for $257 million in both the three and six months ended June 30, 2023. On January 24, 2024, we announced a new share repurchase program (the "2024 Share Repurchase Program"), which became effective on January 26, 2024 and expires on February 6, 2026, and permits us to repurchase shares of our common stock from time to time up to an aggregate repurchase price not to exceed $650 million. Under the 2024 Share Repurchase Program, we repurchased 2.9 million shares of common stock for $62 million in the three months ended June 30, 2024, and 4.2 million shares of common stock for $89 million in the six months ended June 30, 2024. We had $562 million of capacity remaining under the 2024 Share Repurchase Program at June 30, 2024. Under the 2024 Share Repurchase Program, repurchases may occur from time to time and through a variety of methods, including open market repurchases, repurchases effected through Rule 10b5-1 trading plans, negotiated block purchases, accelerated share repurchase programs, tender offers, or other similar transactions. The timing and volume of any repurchases will be subject to market conditions, and there can be no guarantee that the Company will repurchase up to the limit of the 2024 Share Repurchase Program. Share Repurchases under Rule 10b5-1 trading plans During the three months ended June 30, 2024 and 2023, we repurchased 2.9 million shares and 16.4 million shares, respectively, of our common stock at a total cost of $62 million and $257 million, respectively, and during the six months ended June 30, 2024 and 2023, we repurchased 4.2 million and 16.4 million shares, respectively, of our common stock at a total cost of $89 million and $257 million, respectively, under Rule 10b5-1 trading plans authorized under our share repurchase programs.

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