Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.22.4
SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2022
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, 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  — 
Shares acquired —  5.7  — 
Shares issued 0.1  (0.5) — 
Balance at December 31, 2021 222.5  80.0  — 
Shares acquired —  1.9  — 
Shares issued —  (0.7) — 
Balance at December 31, 2022 222.5  81.2  — 
Repurchases of common stock For the year ended December 31, 2022, we made the following purchases under the stock repurchase program:
In millions (except per share amounts)
For each quarter ended		 Shares Purchased Average Cost
Per Share		 Total Cost of
Repurchases
Remaining
Authorized
Capacity (1)
March 31 1.6  $ 199.27  $ 311  $ 2,281 
June 30 0.1  194.00  36  2,245 
September 30 0.2  197.72  23  2,222 
December 31 0.0 
(2)
 206.12  4  2,218 
Total 1.9  198.74  $ 374 
(1) The remaining $218 million authorized capacity under the 2019 plan was calculated based on the cost to purchase the shares, but excludes commission expenses in accordance with the authorized plan.
(2) Shares purchased in the fourth quarter totaled 21,830.
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
  2022 2021 2020
First quarter $ 1.45  $ 1.35  $ 1.311 
Second quarter 1.45  1.35  1.311 
Third quarter 1.57  1.45  1.311 
Fourth quarter 1.57  1.45  1.35 
Total $ 6.04  $ 5.60  $ 5.28