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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Preferred Stock Issued and Outstanding The following is a summary of CSC’s non-cumulative perpetual preferred stock issued and outstanding as of such dates:
Dividend Rate in Effect at December 31, 2023Date at Which Dividend Rate Resets or Becomes FloatingReset /
Floating Rate
Margin Over Reset / Floating Rate
Shares Issued and Outstanding (in ones) at December 31,Liquidation Preference Per ShareCarrying Value at December 31,Earliest Redemption Date
2023 (1)
2022 (1)
20232022Issue Date
Fixed-rate:
Series D750,000 750,000 1,000 728 728 03/07/165.950 %06/01/21N/AN/AN/A
Series J600,000 600,000 1,000 584 584 03/30/214.450 %06/01/26N/AN/AN/A
Fixed-to-floating rate/Fixed-rate reset:
Series F4,884 5,000 100,000 481 492 10/31/175.000 %12/01/2712/01/27
3M LIBOR (4)
2.575 %
Series G (2)
24,580 25,000 100,000 2,428 2,470 04/30/205.375 %06/01/2506/01/25
5-Year Treasury
4.971 %
Series H (3)
22,267 25,000 100,000 2,200 2,470 12/11/204.000 %12/01/3012/01/30
10-Year Treasury
3.079 %
Series I (2)
20,554 22,500 100,000 2,030 2,222 03/18/214.000 %06/01/2606/01/26
5-Year Treasury
3.168 %
Series K (2)
7,500 7,500 100,000 740 740 03/04/225.000 %06/01/2706/01/27
5-Year Treasury
3.256 %
Total preferred
  stock
1,429,785 1,435,000 9,191 9,706 
(1) Represented by depositary shares.
(2) The dividend rate for Series G, Series I and Series K resets on each five-year anniversary from the first reset date.
(3) The dividend rate for Series H resets on each ten-year anniversary from the first reset date.
(4) The reset/floating rate for Series F will be determined by the calculation agent prior to the commencement of the floating rate period using what the calculation agent determines to be the industry-accepted substitute or successor base rate to LIBOR.
N/A Not applicable.
Dividends Declared
Dividends declared on the Company’s preferred stock are as follows:
Year Ended December 31,202320222021
Total
Declared (1)
(in millions)
Per Share
Amount
Total
Declared
(in millions)
Per Share
Amount
Total
Declared
(in millions)
Per Share
Amount
Series A (2)
N/AN/A$19.1 $47.73 $28.0 $70.00 
Series C (3)
N/AN/AN/AN/A18.0 30.00 
Series D44.6 59.52 44.6 59.52 44.6 59.52 
Series E (4)
N/AN/A37.0 6,161.42 27.8 4,625.00 
Series F24.3 5,000.00 25.0 5,000.00 25.0 5,000.00 
Series G
132.2 5,375.00 134.4 5,375.00 134.4 5,375.00 
Series H (5)
90.4 4,000.00 100.0 4,000.00 97.2 3,888.89 
Series I (6)
82.8 4,000.00 90.0 4,000.00 63.2 2,811.11 
Series J (7)
26.7 44.52 26.7 44.5217.9 29.8
Series K (8)
37.4 5,000.00 27.8 3,708.33 N/AN/A
Total$438.4 $504.6 $456.1 
(1) Excludes $3 million of dividends declared on Series G, H and I, and accrued by stockholders as of the repurchase date. Such dividends are part of the consideration paid upon repurchase of the depositary shares during the year ended December 31, 2023.
(2) Series A was redeemed on November 1, 2022. Prior to redemption, dividends were paid semi-annually until February 1, 2022 and quarterly thereafter. The final dividend was paid on November 1, 2022.
(3) Series C was redeemed on June 1, 2021. Prior to redemption, dividends were paid quarterly and the final dividend was paid on June 1, 2021.
(4) Series E was redeemed on December 1, 2022. Prior to redemption, dividends were paid semi-annually until March 1, 2022 and quarterly thereafter. The final dividend was paid on December 1, 2022.
(5) Series H was issued on December 11, 2020. Dividends are paid quarterly, and the first dividend was paid on March 1, 2021.
(6) Series I was issued on March 18, 2021. Dividends are paid quarterly, and the first dividend was paid on June 1, 2021.
(7) Series J was issued on March 30, 2021. Dividends are paid quarterly, and the first dividend was paid on June 1, 2021.
(8) Series K was issued on March 4, 2022. Dividends are paid quarterly, and the first dividend was paid on June 1, 2022.
N/A Not applicable.