Shareholders' Equity |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Equity [Abstract] | |
| Shareholders' Equity | NOTE 24 – Shareholders’ Equity Share Repurchase Program We have an ongoing authorization from the Board of Directors to repurchase our common stock in the open market or in negotiated transactions. At March 31, 2026, the maximum number of shares that may yet be purchased under this plan was 10.2 million. The repurchase program has no expiration date. These purchases may be made on the open market or in privately negotiated transactions, depending upon market conditions and other factors. Repurchased shares may be used to meet obligations under our company’s employee benefit plans and for general corporate purposes. During the three months ended March 31, 2026, we repurchased $96.4 million or 1.2 million shares using existing Board authorizations at an average price of $77.13 per share to meet obligations under our company’s employee benefit plans and for general corporate purposes. During the three months ended March 31, 2025, we repurchased $93.2 million or 1.4 million shares using existing Board authorizations at an average price of $67.15 per share to meet obligations under our company’s employee benefit plans and for general corporate purposes. Preferred Stock The Company has 3,000,000 authorized shares of preferred stock with a par value of $1.00, redeemable at the Company’s option subject to certain terms. This stock may be issued in series, and the shares of each series will have such rights and preferences as are fixed by the Board of Directors when authorizing the issuance of that particular series. As of March 31, 2026, the Company has three outstanding series of non-convertible, non-cumulative preferred stock: 6.25% non-cumulative perpetual preferred stock, Series B; 6.125% non-cumulative perpetual preferred stock, Series C; and 4.50% non-cumulative perpetual preferred stock, Series D. The liquidation value per share is $25. During the three months ended March 31, 2026 and 2025, we declared and paid cash dividends of $9.3 million, respectively. Treasury Stock As of March 31, 2026 and December 31, 2025, the Company had approximately 13.7 million and 15.0 million shares held as treasury stock, respectively. During the three months ended March 31, 2026 and 2025, we issued 1.8 million shares of common stock from treasury, primarily a result of vesting and exercise transactions under our incentive stock award plans. |