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Common Stock
6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Common Stock

NOTE R. COMMON STOCK

The Company’s current stock repurchase program (the “Repurchase Program”) was announced on November 14, 2016 when the Board of Directors authorized the Company to repurchase up to $1,000 million of its common stock on the open market or through privately negotiated transactions. On November 8, 2017, July 30, 2018 and May 9, 2019, the Board of Directors authorized the Company to repurchase an additional $500 million, $500 million and $1,000 million, respectively, of its common stock, bringing the total amount authorized under the Repurchase Program to $3,000 million. The Repurchase Program has no termination date. The timing and amount of stock purchases are subject to market conditions and corporate needs. The Repurchase Program may be modified, suspended or discontinued at any time at the Company’s discretion.

During the three and six months ended June 30, 2020, the Company repurchased zero and approximately $180 million, respectively, of its common stock under the Repurchase Program, leaving $872 million of authorized repurchases remaining under the Repurchase Program as of June 30, 2020.