Common Share Repurchases |
9 Months Ended |
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Sep. 30, 2025 | |
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract] | |
Common Share Repurchases | COMMON SHARE REPURCHASES During the three and nine months ended September 30, 2025, the Company repurchased 2.3 million and 5.1 million common shares, respectively, under its share repurchase authorizations for total cost of $625 million and $1.38 billion, respectively. The average cost per share repurchased was $271.76 and $268.28, respectively. In addition, the Company acquired 10,402 shares and 0.7 million common shares for a total cost of $3 million and $168 million during the three and nine months ended September 30, 2025, respectively, that were not part of its publicly announced share repurchase authorizations. These shares consisted of shares retained to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the exercise price, as well as the related payroll withholding taxes, with respect to certain stock options that were exercised. Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. As of September 30, 2025, the Company had $3.67 billion of capacity remaining under its share repurchase authorizations.
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