TREASURY STOCK

6 Months Ended

Jun. 30, 2022

At June 30, 2022 and December 31, 2021, the Company had a total remaining authorization of $8.2 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 authorization in about two years from when the Company resumed repurchases in January 2022, assuming the travel recovery continues and the Company remains in compliance with the maximum leverage ratio covenant then in effect under 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 and six months ended June 30, 2022 and 2021 (in millions, except for shares, which are reflected in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022		2021
	Shares	Amount		Shares	Amount		Shares	Amount	Shares	Amount
Authorized stock repurchase programs	612	$	1,271	—	$	—	1,026	2,219	—	$	—
General authorization for shares withheld on stock award vesting	1	3		4	9		74	155	68	155
Total	613	$	1,274	4	$	9	1,100	2,374	68	$	155

Stock repurchases of $85 million in June 2022 were settled in July 2022. In addition, in July 2022, the Company repurchased approximately $840 million of its common stock.

For the six months ended June 30, 2022 and 2021, the Company remitted employee withholding taxes of $154 million and $150 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.