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TREASURY STOCK AND DIVIDENDS
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
TREASURY STOCK AND DIVIDENDS TREASURY STOCK AND DIVIDENDS
 
At December 31, 2023, the Company had a total remaining authorization of $13.7 billion related to a program authorized by the Company's Board of Directors ("the Board") in 2023 to repurchase up to $20 billion of the Company's common stock. At June 30, 2024, the Company had a total remaining authorization of $10.6 billion to repurchase its common stock. The Company expects to complete the share repurchases under the remaining authorization by the end of 2026, assuming no major downturn in the travel market. Additionally, the Board 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, 2024 and 2023 (in millions, except for shares, which are reflected in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
SharesAmountSharesAmountSharesAmountSharesAmount
Authorized stock repurchase programs435 $1,622 1,177 $3,138 881 $3,211 1,989 $5,160 
General authorization for shares withheld on stock award vesting92 321 67 176 
Total437$1,628 1,178$3,141 973$3,532 2,056$5,336 

Stock repurchases of $25 million in June 2024 were settled in July 2024.

For the six months ended June 30, 2024 and 2023, the Company remitted employee withholding taxes of $320 million and $176 million, respectively, to the tax authorities, which may differ 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.

The Company recorded an estimated excise tax liability for share repurchases of $124 million and $96 million as of June 30, 2024 and December 31, 2023, respectively. The excise tax liability is included in "Accrued expenses and other current liabilities" in the Consolidated Balance Sheets.

During the six months ended June 30, 2024, the Company paid cash dividends of $594 million. In July 2024, the Board declared a cash dividend of $8.75 per share of common stock, payable on September 30, 2024 to stockholders of record as of the close of business on September 6, 2024.