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Stockholders' Equity
 3 Months Ended
Mar. 31, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders’ Equity
On July 27, 2022, CSC publicly announced that its Board of Directors approved a share repurchase authorization to repurchase up to $15.0 billion of common stock, replacing the previous and now terminated share repurchase authorization of up to $4.0 billion of common stock. The share repurchase authorization does not have an expiration date. There were no repurchases of CSC’s common stock during the three months ended March 31, 2024. CSC repurchased 37 million shares of its common stock for $2.8 billion during the three months ended March 31, 2023. As of March 31, 2024, approximately $8.7 billion remained on the authorization.

There were no repurchases of CSC’s preferred stock during the three months ended March 31, 2024. The Company repurchased 11,620 depositary shares representing interests in Series F preferred stock for $11 million, 42,036 depositary shares representing interests in Series G preferred stock for $42 million, 273,251 depositary shares representing interests in Series H preferred stock for $235 million, and 194,567 depositary shares representing interests in Series I preferred stock for $179 million on the open market during the three months ended March 31, 2023. The repurchase prices are inclusive of $3 million of dividends accrued by the stockholders as of the repurchase date.

Share repurchases, net of issuances, are subject to a nondeductible excise tax which was recognized as a direct and incremental cost associated with these transactions.

The Company’s preferred stock issued and outstanding is as follows:
Liquidation Preference Per ShareDividend Rate in Effect at March 31, 2024Earliest Redemption DateDate at Which Dividend Rate Resets or Becomes FloatingReset / Floating RateMargin Over Reset / Floating Rate
Shares Issued and Outstanding (in ones) atCarrying Value at
March 31, 2024 (1)
December 31, 2023 (1)
March 31, 2024December 31, 2023Issue 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 4,884 100,000 481 481 10/31/175.000 %12/01/2712/01/27
3M LIBOR(4)
2.575 %
Series G (2)
24,580 24,580 100,000 2,428 2,428 04/30/205.375 %06/01/2506/01/25
5-Year Treasury
4.971 %
Series H (3)
22,267 22,267 100,000 2,200 2,200 12/11/204.000 %12/01/3012/01/30
10-Year Treasury
3.079 %
Series I (2)
20,554 20,554 100,000 2,030 2,030 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 1,429,785 $9,191 $9,191  
(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 on the Company’s preferred stock are as follows:
Three Months Ended March 31,
20242023
Total
Declared		Per Share
Amount
Total Declared (1)
Per Share
Amount
Series D (2)
$11.2 $14.88 $11.2 $14.88 
Series F (3)
— — — — 
Series G (2)
33.0 1,343.75 33.2 1,343.75 
Series H (2)
22.3 1,000.00 23.7 1,000.00 
Series I (2)
20.6 1,000.00 21.3 1,000.00 
Series J (2)
6.7 11.13 6.7 11.13 
Series K (2)
9.3 1,250.00 9.3 1,250.00 
Total$103.1 $105.4 
(1) Excludes $3 million of dividends declared on Series G, H and I, and accrued by stockholders as of the repurchase date. Such dividends were part of the consideration paid upon repurchase of the depositary shares during the three months ended March 31, 2023.
(2) Dividends paid quarterly.
(3) Dividends paid semi-annually until December 1, 2027 and quarterly thereafter.