| EQUITY Accumulated Other Comprehensive Loss—The components of accumulated other comprehensive loss, net of tax impacts, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign currency translation adjustments | | AFS debt securities unrealized fair value adjustments | | Derivative instruments adjustments | | Pension liabilities adjustments | | Total | | Balance at January 1, 2026 | $ | (136) | | | $ | 2 | | | $ | (16) | | | $ | 1 | | | $ | (149) | | | Other comprehensive loss before reclassification | (3) | | | (4) | | | — | | | — | | | (7) | | | Amounts reclassified from accumulated other comprehensive loss (1) | — | | | — | | | 1 | | | — | | | 1 | | | Balance at March 31, 2026 | $ | (139) | | | $ | (2) | | | $ | (15) | | | $ | 1 | | | $ | (155) | | | Other comprehensive loss before reclassification | (8) | | | (15) | | | — | | | — | | | (23) | | | Amounts reclassified from accumulated other comprehensive loss (1) | — | | | — | | | 1 | | | — | | | 1 | | | Balance at June 30, 2026 | $ | (147) | | | $ | (17) | | | $ | (14) | | | $ | 1 | | | $ | (177) | | | | | | | | | | | | (1) Includes realized losses recognized in interest expense on our condensed consolidated statements of income (loss) related to the settlement of interest rate locks. We expect to reclassify $5 million of losses, net of insignificant tax impacts, related to the interest rate locks over the next 12 months. | | | | | | | | | | | | | Foreign currency translation adjustments | | AFS debt securities unrealized fair value adjustments | | Derivative instruments adjustments | | Pension liabilities adjustments | | Total | | Balance at January 1, 2025 | $ | (251) | | | $ | 2 | | | $ | (20) | | | $ | — | | | $ | (269) | | | Other comprehensive income (loss) before reclassification | 48 | | | (4) | | | — | | | — | | | 44 | | | Amounts reclassified from accumulated other comprehensive loss (2) | — | | | — | | | 1 | | | — | | | 1 | | | Balance at March 31, 2025 | $ | (203) | | | $ | (2) | | | $ | (19) | | | $ | — | | | $ | (224) | | | Other comprehensive income before reclassification | 85 | | | 3 | | | 1 | | | — | | | 89 | | | Amounts reclassified from accumulated other comprehensive loss (2) | — | | | — | | | 1 | | | — | | | 1 | | | Balance at June 30, 2025 | $ | (118) | | | $ | 1 | | | $ | (17) | | | $ | — | | | $ | (134) | | | | | | | | | | | | | (2) Includes realized losses recognized in interest expense on our condensed consolidated statements of income (loss) related to the settlement of interest rate locks. | | | | | | | | | | | | | | | | | | | | |
Share Repurchases—On both May 8, 2024 and May 20, 2026, our board of directors approved an expansion of our share repurchase program. Under each approval, we are authorized to purchase up to an additional $1,000 million of Class A and Class B common stock. These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan or an accelerated share repurchase ("ASR") transaction, at prices we deem appropriate and subject to market conditions, applicable law, and other factors deemed relevant in our sole discretion. The share repurchase program does not obligate us to repurchase any dollar amount or number of shares, and the program may be suspended or discontinued at any time and does not have an expiration date. | | | | | | | | | | | | | Six Months Ended June 30, | | 2026 | | 2025 | | Total number of shares repurchased | 902,854 | | | 1,078,511 | | | Weighted-average price per share | $ | 162.81 | | | $ | 138.50 | | | Aggregate purchase price (1) | $ | 147 | | | $ | 149 | | | | | | (1) Excludes related insignificant expenses. |
The shares of Class A common stock repurchased in the open market were retired and returned to the status of authorized and unissued shares. At June 30, 2026, we had $1,531 million remaining under the share repurchase program.
|