v3.26.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Dividends
The Company declared quarterly cash dividends on its Class A and Class B common stock as summarized below: 
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions, except per share data)
Dividends declared per share $0.87 $0.76 $2.61 $2.28 
Total dividends declared$759 $684 $2,293 $2,063 
Common Stock Activity
The following table presents the changes in the Company’s outstanding Class A and Class B common stock:
Three Months Ended September 30,
20262025
Class AClass BClass AClass B
(in millions)
Balance at beginning of period870.7 6.5 899.1 6.7 
Purchases of treasury stock(5.3)— (5.8)— 
Share-based payments0.2 — 0.1 — 
Conversion of Class B to Class A common stock— — — — 
Balance at end of period865.6 6.5 893.4 6.7 
Nine Months Ended September 30,
20262025
Class AClass BClass AClass B
(in millions)
Balance at beginning of period887.3 6.6 906.6 6.8 
Purchases of treasury stock(22.9)— (14.7)— 
Share-based payments1.1 — 1.4 — 
Conversion of Class B to Class A common stock0.1 (0.1)0.1 (0.1)
Balance at end of period865.6 6.5 893.4 6.7 
In December 2025 and 2024, the Company’s Board of Directors approved programs authorizing the Company to repurchase shares of its Class A common stock up to $14.0 billion and $12.0 billion, respectively. The following table summarizes the Company’s share repurchases of its Class A common stock:
Nine Months Ended September 30,
20262025
(in millions, except per share data)
Dollar-value of shares repurchased
$11,893 $8,169 
Shares repurchased22.9 14.7 
Average price paid per share$520.64 $554.47 
As of September 30, 2026, the remaining authorization under share repurchase programs approved by the Company’s Board of Directors was $5.6 billion. Through October 26, 2026, the Company repurchased $0.6 billion dollar-value of shares. As of October 26, 2026, the remaining authorization under share repurchase programs approved by the Company’s Board of Directors was $4.9 billion.