v3.26.1
Equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Equity 12. Equity
Share Repurchase Program
The Board of Directors reset the total repurchase authorization of the Company’s previously approved share repurchase
program to $2.0 billion in shares of the Company’s common stock, effective as of February 26, 2026. Under the share
repurchase program, shares of the Company’s common stock may be repurchased from time to time in open market
transactions, in privately negotiated transactions, or otherwise, including through Rule 10b5-1 plans. The timing and actual
number of shares of common stock repurchased will depend on a variety of factors, including legal requirements and price,
economic, and market conditions. In addition to repurchases of common stock, the share repurchase program is used for the
payment of tax withholding amounts upon net share settlement of equity-based awards granted pursuant to our Equity Incentive
Plan or otherwise based on the value of shares withheld that would have otherwise been issued to the award holder. The share
repurchase program may be suspended or discontinued at any time and does not have a specified expiration date. As of
March 31, 2026, the Company had repurchased approximately $0.1 billion of common shares under the reset program, and $1.9
billion of repurchase capacity remained available. The following table presents the Company’s shares that have been
repurchased or retired as a result of net share settlement of equity-based awards during the three months ended March 31, 2026
and 2025. Dollar amounts exclude the impact of excise taxes.
Three Months Ended March 31,
2026
2025
Shares
$
Shares
$
(Dollars in millions, except share data)
Shares repurchased
1,331,853
$65.0
493,781
$25.0
Shares retired in connection with the net share settlement of equity-based awards
2,469,837
139.8
2,835,354
151.5
Total
3,801,690
$204.8
3,329,135
$176.5
Dividends
The table below presents information regarding the quarterly dividends on the common shares, which were made at the
sole discretion of the Board of Directors of the Company.
Dividend Record Date
Dividend Payment Date
Dividend per Common
Share
Dividend to Common
Stockholders
(Dollars in millions, except per share data)
May 19, 2025
May 27, 2025
$0.35
$126.3
August 18, 2025
August 28, 2025
0.35
126.5
November 10, 2025
November 19, 2025
0.35
125.9
February 16, 2026
February 20, 2026
0.35
126.4
Total 2025 Dividend Year
$1.40
$505.1
May 18, 2026
May 28, 2026
$0.35
$126.0
Total 2026 Dividend Year (through Q1 2026)
$0.35
$126.0
The Board of Directors will take into account general economic and business conditions, as well as the Company’s
strategic plans and prospects, business and investment opportunities, financial condition and obligations, legal, tax, and
regulatory restrictions, other constraints on the payment of dividends by the Company to its common stockholders or by
subsidiaries to the Company, and other such factors as the Board of Directors may deem relevant. In addition, the terms of the
Company’s credit facility provide certain limits on the Company’s ability to pay dividends.