TREASURY STOCK

3 Months Ended

Mar. 31, 2022

At March 31, 2022 and December 31, 2021, the Company had a total remaining authorization of $9.5 billion and $10.4 billion, respectively, 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 expects to complete repurchases under the remaining authorization within the next three years assuming the travel recovery continues and the Company is able to meet the minimum liquidity required by the credit facility amendment. 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 months ended March 31, 2022 and 2021 (in millions, except for shares, which are reflected in thousands):


	Three Months Ended March 31,
		2022	2021
			Shares	Amount		Shares	Amount
Authorized stock repurchase programs			414	$	948	—	$	—
General authorization for shares withheld on stock award vesting			73	152		64	146
Total			487	$	1,100	64	$	146

Stock repurchases of $30 million in March 2022 were settled in April 2022. In addition, in April 2022, the Company repurchased approximately $325 million of its common stock.

For the three months ended March 31, 2022 and 2021, the Company remitted employee withholding taxes of $131 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.