Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.20.4
SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Changes in shares of common stock, treasury stock and common stock held in trust for employee benefit plans
Changes in shares of common stock, treasury stock and common stock held in trust for employee benefit plans were as follows:
In millions Common
Stock		 Treasury
Stock		 Common Stock
Held in Trust
Balance at December 31, 2017 222.4  56.7  0.5 
Shares acquired —  7.9  — 
Shares issued —  (0.2) (0.1)
Balance at December 31, 2018 222.4  64.4  0.4 
Shares acquired —  8.1  — 
Shares issued —  (0.8) (0.2)
Balance at December 31, 2019 222.4  71.7  0.2 
Shares acquired —  3.9  — 
Shares issued —  (0.8) (0.2)
Balance at December 31, 2020 222.4  74.8  — 
Repurchases of common stock For the year ended December 31, 2020, we made the following purchases under the stock repurchase programs:
In millions (except per share amounts)
For each quarter ended		 2020 Shares Purchased Average Cost
Per Share		 Total Cost of
Repurchases
Remaining
Authorized
Capacity (1)
October 2018, $2 billion repurchase program
March 29 3.5  $ 156.92  $ 550  $ 85 
June 28 —  —  —  85 
September 27 —  —  —  85 
December 31 0.4  219.15  85  — 
Subtotal 3.9  163.11  635  — 
December 2019, $2 billion repurchase program
December 31 0.0 
(2)
 218.97  6  1,994 
Total 3.9  163.50  $ 641 
(1) The remaining authorized capacity under these plans was calculated based on the cost to purchase the shares but excludes commission expenses in accordance with the authorized plan.
(2) The shares purchased under the 2019 repurchase program rounded to zero.
Dividends per share paid to common shareholders Cash dividends per share paid to common shareholders for the last three years were as follows:
  Quarterly Dividends
  2020 2019 2018
First quarter $ 1.311  $ 1.14  $ 1.08 
Second quarter 1.311  1.14  1.08 
Third quarter 1.311  1.311  1.14 
Fourth quarter 1.35  1.311  1.14 
Total $ 5.28  $ 4.90  $ 4.44