Note 18. Capital Stock
We are authorized to issue up to 2,000,000,000 shares of common stock, with a par value of $1. Common shareowners are entitled to receive such dividends as may be declared by the Board, are entitled to one vote per share, and are entitled, in the event of liquidation, to share ratably in all the assets of Honeywell which are available for distribution to the common shareowners. Common shareowners do not have preemptive or conversion rights. Shares of common stock issued and outstanding or held in the treasury are not liable to further calls or assessments. There are no restrictions on us relative to dividends or the repurchase or redemption of common stock.
In December 2013 the Board of Directors authorized the repurchase of up to a total of $5 billion of Honeywell common stock, $5 billion remained available as of December 31, 2013 for additional share repurchases.
We purchased a total of approximately 13.5 million and 5 million shares of our common stock in 2013 and 2012, for $1,073 and $317 million, respectively.
We are authorized to issue up to 40,000,000 shares of preferred stock, without par value, and can determine the number of shares of each series, and the rights, preferences and limitations of each series. At December 31, 2013, there was no preferred stock outstanding.