Stockholders' Equity |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity | Note 8—Stockholders’ Equity Stock repurchase program In July 2024, our Board of Directors authorized a stock repurchase program, which enabled us to repurchase up to $1 billion in the aggregate of our outstanding common stock on the open market or in privately negotiated transactions until the one-year anniversary of the Board’s authorization, unless earlier terminated by the Board. In May 2025, our Board of Directors authorized a stock repurchase program, which enables us to repurchase up to $1.5 billion in the aggregate of our outstanding common stock on the open market or in privately negotiated transactions until the one-year anniversary of the Board’s authorization, unless earlier terminated by the Board. During the three and six months ended June 30, 2025, we repurchased 3.4 million and 5.8 million shares, respectively, of common stock for approximately $269.6 million and $476.5 million, respectively, which includes a 1% excise tax on share repurchases. During the three and six months ended June 30, 2024, we repurchased 3.7 million and 4.5 million shares, respectively, of common stock for approximately $228.1 million and $281.0 million, respectively, which includes a 1% excise tax on share repurchases. We use the cost method to account for treasury stock purchases. Under the cost method, the price paid for the stock is charged to the treasury stock account.
Dividends We paid quarterly cash dividends of $0.25 per share of common stock in each of March and June 2025 totaling $122.5 million. We paid quarterly cash dividends of $0.24 per share of common stock in each of March and June 2024 totaling $119.8 million.
Accumulated Other Comprehensive Loss Accumulated other comprehensive loss balances, net of tax, consist of the following (in millions):
(1) Amounts are reported net of tax. Tax effects were immaterial. |
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