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STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Shares Repurchased | The following is a summary of our share repurchases, which are held as treasury stock, for the periods presented:
| Total Number of Shares Purchased |  | Total Value of Shares Purchased |  | Average Price Paid per Share
| (number of shares) |  | (in millions) |  | ($ per share)
Three months ended June 30, 2023 | 1,618,746 |  |  | $ | 64 |  |  | $ | 39.12 |
Three months ended June 30, 2024 | 703,839 |  |  | $ | 35 |  |  | $ | 49.71 |
Six months ended June 30, 2023 | 3,042,510 |  |  | $ | 123 |  |  | $ | 40.12 |
Six months ended June 30, 2024 | 1,769,603 |  |  | $ | 93 |  |  | $ | 51.85 |
Inception of Program (May 2021) through June 30, 2024 | 16,633,518 |  |  | $ | 697 |  |  | $ | 41.74 |
Note: The total value of shares purchased includes approximately $1 million in both the six months ended June 30, 2024 and 2023 related to excise taxes on share repurchases, which was effective beginning on January 1, 2023. Commissions paid on share repurchases were not significant in all periods presented.
Schedule of Dividends Declared | Our Board of Directors declared the following cash dividends for each of the periods presented.
| Total Dividend |  | Rate Per Share
| (in millions) |  | ($ per share)
2024 |  |  |
Three months ended March 31, 2024 | $ | 21 |  |  | $ | 0.31 |
Three months ended June 30, 2024 | 22 |  |  | $ | 0.31 |
Six months ended June 30, 2024 | $ | 43 |  |  |
2023 |  |  |
Three months ended March 31, 2023 | $ | 20 |  |  | $ | 0.2825 |
Three months ended June 30, 2023 | 20 |  |  | $ | 0.2825 |
Six months ended June 30, 2023 | $ | 40 |  |  |

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