v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Federal Home Loan Banks [Abstract]  
Stockholders' Equity
(14)
Stockholders’ Equity

Share Repurchase Program

On July 25, 2011, the Company’s Board of Directors approved a share repurchase program for the repurchase of up to an aggregate of $200 of its outstanding common stock from time to time in open market purchases, privately negotiated transactions or through other appropriate means. The timing and quantity of any shares repurchased will depend upon a variety of factors, including business conditions, stock market conditions and business development activities, including, but not limited to, merger and acquisition opportunities. These repurchases may be commenced, suspended or discontinued at any time without prior notice. Any repurchased shares are held by the Company as authorized but unissued shares.

During the six months ended June 30, 2026, there were no repurchases of common stock. During the six months ended June 30, 2025, the Company repurchased approximately 0.5 shares of its common stock for total consideration of $45. The Company has repurchased approximately 3.1 shares of common stock for approximately $172 pursuant to the program since its adoption.

Cash Dividends

Holders of the Company’s common stock are entitled to receive dividends when and if they are declared by the Company’s Board of Directors. During the first and second quarters of 2026, the Company’s Board of Directors declared a cash dividend

of $0.25 per share, totaling in aggregate $34 during the six months ended June 30, 2026. During the first and second quarters of 2025, the Company’s Board of Directors declared a cash dividend of $0.22 per share, totaling in aggregate $30 during the six months ended June 30, 2025.

On August 3, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.25 per share to be paid on September 3, 2026 to stockholders of record as of August 25, 2026.

Future dividend declarations, if any, as well as the record and payment dates for such dividends, are subject to the final determination of the Company’s Board of Directors.

Accumulated Other Comprehensive (Loss) Income

The changes in accumulated other comprehensive (loss) income (“AOCI”) by component as of June 30, 2026 and June 30, 2025, net of aggregate tax (benefit) expense of $(6) and $10 for each period, respectively, were as follows:

 

 

 

Changes in value of financial instruments designated as cash flow hedges

 

 

Foreign currency translation adjustments

 

 

Change in net investment hedge

 

 

Unrecognized pension gain (loss)

 

 

Total

 

Balance at December 31, 2025

 

$

1

 

 

$

(55

)

 

$

(52

)

 

$

13

 

 

$

(93

)

Other comprehensive income (loss) before reclassifications

 

 

5

 

 

 

(34

)

 

 

49

 

 

 

3

 

 

 

23

 

Amounts reclassified out of AOCI

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1

)

Net other comprehensive income (loss)

 

 

4

 

 

 

(34

)

 

 

49

 

 

 

3

 

 

 

22

 

Balance at March 31, 2026

 

$

5

 

 

$

(89

)

 

$

(3

)

 

$

16

 

 

$

(71

)

Other comprehensive income (loss) before reclassifications

 

 

1

 

 

 

25

 

 

 

6

 

 

 

(2

)

 

 

30

 

Amounts reclassified out of AOCI

 

 

1

 

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

—

 

Net other comprehensive income (loss)

 

 

2

 

 

 

25

 

 

 

6

 

 

 

(3

)

 

 

30

 

Balance at June 30, 2026

 

$

7

 

 

$

(64

)

 

$

3

 

 

$

13

 

 

$

(41

)

 

 

 

Changes in value of financial instruments designated as cash flow hedges

 

 

Foreign currency translation adjustments

 

 

Change in net investment hedge

 

 

Unrecognized pension gain (loss)

 

 

Total

 

Balance at December 31, 2024

 

$

30

 

 

$

(292

)

 

$

11

 

 

$

3

 

 

$

(248

)

Other comprehensive income (loss) before reclassifications

 

 

(26

)

 

 

54

 

 

 

(19

)

 

 

4

 

 

 

13

 

Amounts reclassified out of AOCI

 

 

10

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10

 

Net other comprehensive income (loss)

 

 

(16

)

 

 

54

 

 

 

(19

)

 

 

4

 

 

 

23

 

Balance at March 31, 2025

 

$

14

 

 

$

(238

)

 

$

(8

)

 

$

7

 

 

$

(225

)

Other comprehensive income (loss) before reclassifications

 

 

(16

)

 

 

191

 

 

 

(40

)

 

 

—

 

 

 

135

 

Amounts reclassified out of AOCI

 

 

7

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

6

 

Net other comprehensive income (loss)

 

 

(9

)

 

 

190

 

 

 

(40

)

 

 

—

 

 

 

141

 

Balance at June 30, 2025

 

$

5

 

 

$

(48

)

 

$

(48

)

 

$

7

 

 

$

(84

)