v3.26.1
Share Repurchase Authorizations
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Share Repurchase Authorizations Share Repurchase Authorizations
Prior to March 4, 2026, the Board authorized the repurchase of up to $3.5 billion of our Class A common stock, Class C capital stock, convertible senior notes or a combination thereof. On March 4, 2026, the Board authorized the repurchase of up to an additional $1.25 billion of our Class A common stock, Class C capital stock, or a combination thereof, which increased our total cumulative Repurchase Authorizations to $4.8 billion. On June 3, 2026, the Board approved an amendment to its Repurchase Authorizations pursuant to which, effective June 3, 2026, no repurchase of shares under the Repurchase Authorizations is permitted if, after giving effect to such repurchase, any single shareholder would beneficially own more than 45% of the then-outstanding voting power of the Company’s voting securities. As of June 30, 2026, $1.1 billion remained available for future repurchases of our stock pursuant to the Repurchase Authorizations.
The following table summarizes our Class A common stock and Class C capital stock repurchase activity under the Repurchase Authorizations, excluding excise taxes and commissions, for the periods presented (in millions, except share data, which are presented in thousands, and per share amounts):
Three Months Ended
June 30, 2026		Three Months Ended
June 30, 2025
Class A common stock
Class C
capital stock
Class A common stockClass C capital stock
Shares repurchased1,033 4,611 1,784 522 
Weighted-average price per share$35.71 $35.38 $65.04 $65.03 
Total purchase price$37 $163 $116 $34 
Six Months Ended
June 30, 2026		Six Months Ended
June 30, 2025
Class A common stock
Class C
capital stock
Class A common stockClass C capital stock
Shares repurchased4,832 14,277 4,244 1,401 
Weighted-average price per share$45.25 $42.52 $70.09 $73.19 
Total purchase price$219 $607 $297 $103