Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

In November 2022, our Board of Directors increased our remaining share repurchase program authorization to $2.5 billion. During 2022, we repurchased 113 million shares of our common stock pursuant to the share repurchase program at a cost of $2.8 billion. The total remaining share repurchase authorization was approximately $2.5 billion at December 31, 2022. During 2021, we repurchased 46 million shares of our common stock pursuant to the share repurchase program at a cost of $724 million. During 2020, we repurchased approximately 9 million of shares of our common stock pursuant to the share repurchase program at a cost of $85 million. Purchases under our share repurchase program are made at our discretion and may be in either open market transactions, including block purchases, or in privately negotiated transactions using cash on hand, cash generated from operations or proceeds from potential asset sales. This program may be changed based upon our financial condition or changes in market conditions and is subject to termination prior to completion.

Additionally, during the year ended December 31, 2022, 2021 and 2020, we repurchased $22 million, $10 million, and $7 million, respectively, of shares related to our tax withholding obligation associated with the vesting of employee restricted stock awards and restricted stock units; these repurchases do not impact our share repurchase program authorization.

Subsequent to December 31, 2022, we repurchased approximately $133 million of shares of our common stock through February 15, 2023