SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

Effective February 10, 2021, our Board of Directors authorized the repurchase, for retirement, of up to $2.0 billion of shares of our common stock in open-market transactions or otherwise, replacing the previous Board of Directors authorization established in 2019. During 2021, we repurchased and retired 17.6 million shares of our common stock (including 0.7 million shares to offset the dilutive impact of restricted stock units granted in 2021), for cash aggregating $1,026 million. At December 31, 2021, we had $1,128 million remaining under the 2021 authorization.

During 2020, we repurchased and retired 18.8 million shares of our common stock (including 0.4 million shares to offset the dilutive impact of restricted stock units granted in 2020), for cash aggregating $727 million.

During 2019, we repurchased and retired 20.1 million shares of our common stock (including 0.6 million shares to offset the dilutive impact of long-term stock awards granted in 2019) for cash aggregating $896 million.

On the basis of amounts paid (declared), cash dividends per common share were $0.845 ($0.705) in 2021, $0.545 ($0.550) in 2020 and $0.495 ($0.510) in 2019.

Accumulated Other Comprehensive Income (Loss).    The components of accumulated other comprehensive income (loss) attributable to Masco Corporation were as follows, in millions:

	At December 31,
	2021		2020
Cumulative translation adjustments, net	$	312	$	325
Unrealized loss on interest rate swaps, net	—		(7)
Unrecognized net loss and prior service cost, net	(80)		(460)
Accumulated other comprehensive income (loss)	$	232	$	(142)

The cumulative translation adjustment, net, is reported net of income tax benefit of $1 million at both December 31, 2021 and 2020. The unrealized loss on interest rate swaps, net, is reported net of income tax expense of $5 million at December 31, 2020. The unrecognized net loss and prior service cost, net, is reported net of income tax benefit of $20 million and $124 million at December 31, 2021 and 2020, respectively.