v3.26.1
Equity
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Equity Equity
Share Repurchase Authorization

In 2015, the Company’s Board of Directors (the “Board”) authorized a share repurchase program to repurchase up to $1.2 billion of the Company’s Common Stock. The Board authorized incremental share repurchases of up to an aggregate additional $6.9 billion of the Company’s Common Stock from February 2021 to April 2026. As of June 30, 2026, $0.8 billion remained available under the share repurchase program. The Company may repurchase its Common Stock from time-to-time in amounts, at prices and in the manner that the Company deems appropriate, subject to the availability of stock, prevailing market conditions, the trading price of the stock, the Company’s financial performance and other conditions. Repurchases may be made through open market purchases (which may include repurchase plans designed to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended), accelerated share repurchases, private transactions or other transactions and will be funded by cash on hand and borrowings. Repurchases may also be made from time-to-time in connection with the settlement of the Company’s stock-based compensation awards.
The Company’s share repurchase activity is presented in the table below for the periods indicated.
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Number of shares repurchased (1) 3,630,175 659,883 6,940,428 960,628 
Cash paid for repurchased shares (in thousands) (2)$547,117 $274,483 $1,081,754 $437,155 
(1)The average purchase price for repurchased shares was $148.93 and $417.99 for the three months ended June 30, 2026 and 2025, respectively, and $153.49 and $446.06 for the six months ended June 30, 2026 and 2025, respectively. The repurchased shares during the three and six months ended June 30, 2026 and 2025 included purchases for both open market purchases and stock-based compensation award settlements.
(2)The cash paid for repurchased shares during the six months ended June 30, 2026 excluded excise tax accrued and included $10.0 million of open market purchases with trade dates in December 2025 that settled in January 2026. The cash paid for repurchased shares during the three months ended June 30, 2026 excluded $11.3 million of open market purchases with trade dates in June 2026 that settled in July 2026 and excise tax accrued. The cash paid for repurchased shares during the six months ended June 30, 2025 included $10.0 million of open market purchases with trade dates in December 2024 that settled in January 2025. The cash paid for repurchased shares during the three months ended June 30, 2025 excluded $6.0 million of open market purchases with trade dates in June 2025 that settled in July 2025 and excise tax accrued.

Accumulated Other Comprehensive Loss, net (“AOCL”)

The tables below provide information about the changes in AOCL by component and the related amounts reclassified out of AOCL to income during the periods indicated (net of tax, in thousands) (1).

Three Months Ended June 30, 2026
Defined
Benefit
Pension Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – March 31, 2026$(6,131)$(38,924)$(45,055)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income
— (7,892)(7,892)
Reclassifications from AOCL to income (2), (3)117 411 528 
Other comprehensive income (loss), net117 (7,481)(7,364)
Balance – June 30, 2026$(6,014)$(46,405)$(52,419)

Three Months Ended June 30, 2025
Interest Rate
Swaps 		Defined
Benefit
Pension Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – March 31, 2025$(6,410)$(5,166)$(56,273)$(67,849)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income
— — 17,789 17,789 
Reclassifications from AOCL to income (2), (4)3,394 51 — 3,445 
Other comprehensive income (loss), net3,394 51 17,789 21,234 
Balance – June 30, 2025$(3,016)$(5,115)$(38,484)$(46,615)
Six Months Ended June 30, 2026
Defined
Benefit
Pension Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – December 31, 2025$(5,944)$(35,071)$(41,015)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income
— (11,745)(11,745)
Reclassifications from AOCL to income (2), (3)
(70)411 341 
Other comprehensive income (loss), net(70)(11,334)(11,404)
Balance – June 30, 2026$(6,014)$(46,405)$(52,419)
Six Months Ended June 30, 2025
Interest Rate
Swaps		Defined
Benefit
Pension Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – December 31, 2024$(9,800)$(5,214)$(73,319)$(88,333)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income
— — 34,835 34,835 
Reclassifications from AOCL to income (2), (4)6,784 99 — 6,883 
Other comprehensive income (loss), net6,784 99 34,835 41,718 
Balance – June 30, 2025$(3,016)$(5,115)$(38,484)$(46,615)
(1)Amounts in parentheses represent debits (deferred losses).
(2)The reclassifications related to defined benefit pension plans were recorded in Other (expense) income, net.
(3)The reclassification related to foreign currency translation adjustments was recorded to Gain from sale of divested operation.
(4)$4.5 million and $8.9 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the three and six months ended June 30, 2025, respectively. The swap contract matured in September 2025.