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Share Repurchase Program
 6 Months Ended
Jun. 30, 2023
Share Repurchase Program [Abstract]  
Share Repurchase Program Note 15. Share Repurchase Program

On September 7, 2021, we announced a three-year repurchase authorization of up to $400 million of outstanding shares of our common stock over the three-year period from September 3, 2021 through September 3, 2024. As of June 30, 2023, we have repurchased a total of 5,552,053 outstanding shares at an aggregate cost of $195 million, which is included in treasury stock on the accompanying condensed consolidated statements of financial position, and had $205 million remaining available for future repurchases under this program.

A summary of repurchases of outstanding shares is as follows:

Three Months Ended

Six Months Ended

June 30,

June 30,

(In millions, except per share data)

2023

2022

2023

2022

Number of shares purchased

1.1

0.8

1.1

1.9

Average price paid per share(1)

$

31.43

$

22.16

$

31.43

$

30.51

Cost of shares purchased

$

34

$

19

$

34

$

59

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(1)The average price paid per share is calculated on a trade date basis and excludes commissions.