Equity

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Equity

Equity

Declaration and Payment of Dividends

During the three months ended March 31, 2020, the following dividends/distributions were declared or paid:

Equity Type	Declaration Date	Record Date	Payment Date	Dividends Per Share		Aggregate Payment Amount
Common Stock	February 20, 2020	March 13, 2020	March 31, 2020	$	1.20	$	504	(a)
6.875% Mandatory Convertible Preferred Stock	December 9, 2019	January 15, 2020	February 3, 2020	$	17.1875	$	28
6.875% Mandatory Convertible Preferred Stock	March 12, 2020	April 15, 2020	May 1, 2020	$	17.1875	$	28

(a) Inclusive of dividends accrued for holders of unvested restricted stock units, which will be paid when and if the restricted stock units vest.

Purchases of the Company's Common Stock

For the three months ended March 31, 2020, the Company purchased 0.4 million shares of its common stock utilizing $73 million in cash. The shares of common stock purchased relate to shares withheld in connection with the payment of withholding taxes upon vesting of restricted stock units.

2018 "At-the-Market" Stock Offering Program

In April 2018, the Company established an "at-the-market" stock offering program through which it may issue and sell shares of its common stock having an aggregate gross sales price of up to $750 million ("2018 ATM Program"). Sales under the 2018 ATM Program may be made by means of ordinary brokers' transactions on the NYSE or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or, subject to our specific instructions, at negotiated prices. The Company intends to use the net proceeds from any sales under the 2018 ATM Program for general corporate purposes, which may include (1) the funding of future acquisitions or investments or (2) the repayment or repurchase of any outstanding indebtedness. The Company has not sold any shares of common stock under the 2018 ATM Program.