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| Stock-based compensation | Shareholders' equity Stock-based compensation During the six months ended June 30, 2026, the Company granted 727 stock-settled restricted and performance stock units with an aggregate grant-date fair value of $116,627. Additionally, the Company granted 98 stock-settled stock appreciation rights with an aggregate grant-date fair value of $5,460. As of June 30, 2026, the Company had $195,359 in total estimated but unrecognized stock-based compensation expense under the Company's equity compensation and employee stock purchase plans. The Company expects to recognize this expense over a weighted average remaining period of 1.4 years.
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| Share repurchases | Share repurchases The following table summarizes the Company's common stock repurchases during the three and six months ended June 30, 2026:
(1)Includes commissions and excise tax, as applicable. The excise tax is recorded as part of the cost basis of treasury shares repurchased and, as such, is included in stockholders’ equity. (2)Excludes commissions and excise tax. Berkshire share repurchase agreement Pursuant to the April 30, 2024 share repurchase agreement with Berkshire Hathaway Inc. on behalf of itself and its affiliates (collectively, Berkshire), the Company had a repurchase obligation at June 30, 2026 to purchase shares from Berkshire for $36,513 in the aggregate, recorded as a payable and classified as due to related party on the Company's consolidated balance sheet. On July 31, 2026, the Company settled the Berkshire repurchase obligation in total for 183 shares of common stock for $36,513, at an average price paid of $199.55 per share. See Note 18 to the Company's consolidated financial statements included in the 2025 10-K for further discussion of the Company’s relationship with Berkshire and the share repurchase agreement. Share repurchase authorizations The Company is authorized to make share repurchases pursuant to prior Board authorizations. This authorization allows the Company to make purchases from time to time in the open market or in privately negotiated transactions, including without limitation, through accelerated share repurchase transactions, derivative transactions, tender offers, Rule 10b5-1 plans or any combination of the foregoing, depending upon market conditions and other considerations. As of July 31, 2026, the Company has a total of $1,372,960, excluding excise taxes, available under current authorizations for additional share repurchases. Although these share repurchase authorizations do not have an expiration date, the Company remains subject to share repurchase limitations, including under the terms of its senior secured credit facilities.
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