v3.25.1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Dividends
The Company declared quarterly cash dividends on its Class A and Class B common stock as summarized below: 
Three Months Ended March 31,
20252024
(in millions, except per share data)
Dividends declared per share $0.76 $0.66 
Total dividends declared$692 $615 
Common Stock Activity
The following table presents the changes in the Company’s outstanding Class A and Class B common stock:
Three Months Ended March 31,
20252024
 Outstanding SharesOutstanding Shares
 Class AClass BClass AClass B
(in millions)
Balance at beginning of period906.6 6.8 927.3 7.2 
Purchases of treasury stock(4.7)— (4.4)— 
Share-based payments1.1 — 1.2 — 
Conversion of Class B to Class A common stock— — 0.1 (0.1)
Balance at end of period903.0 6.8 924.2 7.1 
In December 2024 and 2023, the Company’s Board of Directors approved share repurchase programs of its Class A common stock authorizing the Company to repurchase up to $12.0 billion and $11.0 billion, respectively. The following table summarizes the Company’s share repurchases of its Class A common stock:
Three Months Ended March 31,
20252024
(in millions, except per share data)
Dollar-value of shares repurchased
$2,549 $1,992 
Shares repurchased4.7 4.4 
Average price paid per share$541.38 $454.23 
As of March 31, 2025, the remaining authorization under share repurchase programs approved by the Company’s Board of Directors was $12.6 billion. Through April 28, 2025, the Company repurchased $884 million dollar-value of shares. As of April 28, 2025, the remaining authorization under share repurchase programs approved by the Company’s Board of Directors was $11.8 billion.