Common Stock

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Common Stock

Common Stock

On March 23, 2022, the Board of Directors of the Company authorized an additional $5 billion in share repurchases. This is in addition to the Company's existing share repurchase program, which had approximately $1.3 billion of remaining authorization as of December 31, 2021.

In 2022, the Company repurchased 12.2 million shares of its common stock for $1.9 billion. The Company remains authorized to repurchase up to approximately $4.3 billion in shares of its common stock. There is no time limit on the authorization. In 2021, the Company repurchased 7.9 million shares of its common stock for $1.2 billion.

The Company issued approximately 3.5 million and 3.8 million shares related to stock compensation and employee stock purchase plans during the years ended December 31, 2022 and 2021, respectively.