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Stockholders' Equity
 6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Stockholders' Equity

6.   Stockholders’ Equity

The following table summarizes common share repurchases, issuances and dividends paid.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(Dollars and shares in millions, except per share amounts)

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Common stock repurchased(1)

 

 

11.8

 

 

 

—

 

 

 

19.9

 

 

 

23.0

 

Common stock repurchased (in dollars)(1)

 

$

200

 

 

$

—

 

 

$

300

 

 

$

335

 

Average purchase price per share(1)

 

$

17.02

 

 

$

—

 

 

$

15.05

 

 

$

14.61

 

Remaining common stock repurchase authority(1)

 

$

300

 

 

$

665

 

 

$

300

 

 

$

665

 

Shares repurchased related to employee stock-

   based compensation plans(2)

 

 

.6

 

 

 

—

 

 

 

2.8

 

 

 

.9

 

Average purchase price per share(2)

 

$

17.28

 

 

$

—

 

 

$

12.99

 

 

$

13.66

 

Common shares issued(3)

 

 

.6

 

 

 

.1

 

 

 

4.3

 

 

 

2.4

 

Dividends paid

 

$

27

 

 

$

31

 

 

$

56

 

 

$

62

 

Dividends per share

 

$

.16

 

 

$

.16

 

 

$

.32

 

 

$

.32

 

 

(1) 

Common shares purchased under our share repurchase program. Our board of directors authorized a $1 billion multi-year share repurchase program in October 2019.

(2) 

Comprises shares withheld from stock option exercises and vesting of restricted stock for employees’ tax withholding obligations and shares tendered by employees to satisfy option exercise costs.

(3) 

Common shares issued under our various compensation and benefit plans.

The closing price of our common stock on June 30, 2021 was $19.33.