TREASURY STOCK

9 Months Ended

Sep. 30, 2021

At September 30, 2021 and December 31, 2020, the Company had a total remaining authorization of $10.4 billion to repurchase its common stock under a program authorized by the Company's Board of Directors in 2019 to repurchase up to $15.0 billion of the Company's common stock. The Company has not repurchased any shares since March 2020 under this authorization and does not intend to initiate any repurchases under this authorization in 2021. Assuming the travel recovery continues and the Company is able to meet its minimum liquidity covenant under the revolving credit facility, the Company plans to start repurchases in early 2022 under this authorization, and expects to complete this authorization within three years after commencing repurchases. See Note 9 for a description of the impact of the 2020 credit facility amendment on the Company's ability to repurchase shares. Additionally, the Board of Directors has given the Company the general authorization to repurchase shares of its common stock withheld to satisfy employee withholding tax obligations related to stock-based compensation.

The following table summarizes the Company's stock repurchase activities during the three and nine months ended September 30, 2021 and 2020 (in millions, except for shares, which are reflected in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
	Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount
Authorized stock repurchase programs	—	$	—	—	$	—	—	$	—	601	$	1,122
General authorization for shares withheld on stock award vesting	2	3		2	4		70	158		81	137
Total	2	$	3	2	$	4	70	$	158	682	$	1,259

For the nine months ended September 30, 2021 and 2020, the Company remitted employee withholding taxes of $159 million and $137 million, respectively, to the tax authorities, which is different from the aggregate cost of the shares withheld for taxes for each period due to the timing in remitting the taxes. The cash remitted to the tax authorities is included in financing activities in the Unaudited Consolidated Statements of Cash Flows.