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Stockholders' Equity
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Stockholders' Equity

7. 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)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Common stock repurchased(1)

 

 

1.9

 

 

 

2.5

 

 

 

4.5

 

 

 

5.0

 

Common stock repurchased (in dollars)(1)

 

$

24

 

 

$

38

 

 

$

59

 

 

$

81

 

Average purchase price per share(1)

 

$

12.56

 

 

$

15.41

 

 

$

13.22

 

 

$

16.14

 

Remaining common stock repurchase authority(1)

 

$

52

 

 

$

209

 

 

$

52

 

 

$

209

 

Shares repurchased related to employee stock-
   based compensation plans(2)

 

 

—

 

 

 

—

 

 

 

.4

 

 

 

.5

 

Average purchase price per share(2)

 

$

—

 

 

$

—

 

 

$

13.74

 

 

$

16.04

 

Common shares issued(3)

 

 

—

 

 

 

.1

 

 

 

1.3

 

 

 

1.4

 

Dividends paid

 

$

16

 

 

$

17

 

 

$

32

 

 

$

35

 

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 December 2021.
(2)
Comprises shares withheld from the vesting of restricted stock for employees’ tax withholding obligations.
(3)
Common shares issued under our various compensation and benefit plans.

The closing price of our common stock on June 30, 2025 was $14.10.