v3.26.1
Equity and Earnings Per Share
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Equity Equity and Earnings Per Share
Common Stock
In July 2026, the Company’s Board of Directors declared a quarterly dividend of $0.30 per common share (a total estimated to be approximately $194 million) to be paid on August 12, 2026, to stockholders of record on August 4, 2026.
Share Repurchases
The following table presents information about our repurchases of common stock:
Six Months Ended June 30,
20262025
(Dollars in millions)
Total number of shares repurchased
28,094,695 30,295,410 
Total cost of shares repurchased
$1,542 $1,262 
Commissions and excise tax included in total cost$15 $12 
As of June 30, 2026, the remaining amount authorized under the share repurchase program was $29 million. In July 2026, the Company’s Board of Directors authorized increasing the remaining share repurchase amount to $6.0 billion and extending the share repurchase program’s expiration date to July 21, 2029.
All share repurchases of the Company’s common stock have been recorded as treasury stock in the accompanying condensed consolidated balance sheets. Repurchases of the Company’s common stock are made at the Company’s discretion in accordance with
applicable federal securities laws in the open market or otherwise, including pursuant to plans designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, privately negotiated transactions, accelerated share repurchases or block trades, subject to market conditions, applicable legal requirements and other factors. The timing, method and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, legal requirements, other investment opportunities and market conditions.
Earnings Per Share
Earnings Per Share
The weighted average number of common and common equivalent shares used in the calculation of basic and diluted earnings per share consisted of the following:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(In millions)
Weighted-average common shares outstanding (used in the calculation of basic earnings per share)
654 695 661 704 
Potential dilution from stock options and restricted stock and stock units
2 1 2 — 
Weighted-average common and common equivalent shares (used in the calculation of diluted earnings per share)
656 696 663 704 
Antidilutive stock options and restricted stock and stock units excluded from the calculation of diluted earnings per share
3 9 3 9 
Diluted earnings per share is calculated using the treasury stock method.
Noncontrolling Interest in SCL
Noncontrolling Interests
In June 2026, SCL paid a dividend of HKD 0.50 per share to SCL shareholders (a total of $517 million, of which the Company retained $387 million during the six months ended June 30, 2026).