v3.24.0.1
Capital Stock:
 12 Months Ended
Dec. 31, 2023
Class of Stock Disclosures [Abstract]  
Capital Stock:
Capital Stock:

Shares of authorized common stock are 6.0 billion; issued, repurchased and outstanding shares were as follows:
Shares IssuedShares
Repurchased		Shares
Outstanding
Balances, January 1, 20212,109,316,331 (551,942,600)1,557,373,731 
Repurchase of shares(8,514,629)(8,514,629)
Issuance of stock awards1,310,891 1,310,891 
Balances, December 31, 20212,109,316,331 (559,146,338)1,550,169,993 
Repurchase of shares(1,966,730)(1,966,730)
Issuance of stock awards2,014,448 2,014,448 
Balances, December 31, 20222,109,316,331 (559,098,620)1,550,217,711 
Repurchase of shares— — 
Issuance of stock awards2,206,820 2,206,820 
Balances, December 31, 20232,109,316,331 (556,891,800)1,552,424,531 

On June 11, 2021, PMI's Board of Directors authorized a new share repurchase program of up to $7 billion, with target spending of $5 billion to $7 billion over a three-year period. On July 22, 2021, PMI began repurchasing shares under this new share repurchase program. From July 22, 2021 through March 31, 2022, PMI repurchased 10.5 million shares of its common stock at a cost of approximately $1.0 billion. During the first three months of 2022, PMI repurchased 2.0 million shares of its common stock at a cost of $199 million. On May 11, 2022, PMI announced the suspension of its three-year share repurchase program following the recommended public offer to acquire the outstanding shares of Swedish Match from its shareholders. For further details, see Note 3. Acquisitions. Prior to the suspension of the program, PMI made no share repurchases during the second quarter of 2022.

At December 31, 2023, 30,505,637 shares of common stock were reserved for stock awards under PMI’s stock plans, and 250 million shares of preferred stock, without par value, were authorized but unissued. PMI currently has no plans to issue any shares of preferred stock.