v3.26.3
Equity
 9 Months Ended
Sep. 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 $7.4 billion of the Company’s Common Stock from February 2021 to July 2026. As of September 30, 2026, $1.1 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 EndedNine Months Ended
September 30,September 30,
2026202520262025
Number of shares repurchased(1)
886,818 3,955,033 7,827,246 4,915,661 
Cash paid for repurchased shares (in thousands)(2)
$138,223 $1,055,523 $1,219,977 $1,492,678 
(1)The average purchase price for repurchased shares was $143.14 and $265.38 for the three months ended September 30, 2026 and 2025, respectively, and $152.32 and $300.69 for the nine months ended September 30, 2026 and 2025, respectively. The repurchased shares during the three and nine months ended September 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 nine months ended September 30, 2026 included $10.0 million of open market purchases with trade dates in December 2025 that settled in January 2026 and excise tax accrued . The cash paid for repurchased shares during the three months ended September 30, 2026 included $11.3 million of open market purchases with trade dates in June 2026 that settled in July 2026. The cash paid for repurchased shares during the three months ended September 30, 2025 excluded $0.1 million of open market purchases with trade dates in September 2025 that settled in October 2025 and excise tax accrued. The cash paid for repurchased shares during the nine months ended September 30, 2025 included $10.0 million of open market purchases with trade dates in December 2024 that settled in January 2025 and excise tax accrued. The cash paid for repurchased shares during the three months ended September 30, 2025 included $6.0 million of open market purchases with trade dates in June 2025 that settled in July 2025.

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 September 30, 2026
Defined
Benefit
Pension Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – June 30, 2026$(6,014)$(46,405)$(52,419)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income
— 2,497 2,497 
Reclassifications from AOCL to income(2)(3)
116 — 116 
Other comprehensive income (loss), net116 2,497 2,613 
Balance – September 30, 2026$(5,898)$(43,908)$(49,806)

Three Months Ended September 30, 2025
Interest Rate
Swaps 		Defined
Benefit
Pension Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – June 30, 2025$(3,016)$(5,115)$(38,484)$(46,615)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income
— — 7,303 7,303 
Reclassifications from AOCL to income(2)(4)
3,016 51 — 3,067 
Other comprehensive income (loss), net3,016 51 7,303 10,370 
Balance – September 30, 2025$— $(5,064)$(31,181)$(36,245)
Nine Months Ended September 30, 2026
Defined
Benefit
Pension Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – December 31, 2025$(5,944)$(35,071)$(41,015)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income
(397)(9,248)(9,645)
Reclassifications from AOCL to income(2)(3)
443 411 854 
Other comprehensive income (loss), net46 (8,837)(8,791)
Balance – September 30, 2026$(5,898)$(43,908)$(49,806)
Nine Months Ended September 30, 2025
Interest Rate
Swaps		Defined
Benefit
Pension Plans		Foreign
Currency
Translation
Adjustments		Total
Balance – December 31, 2024$(9,800)$(5,214)$(73,319)$(88,333)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income
— — 42,138 42,138 
Reclassifications from AOCL to income(2)(4)
9,800 150 — 9,950 
Other comprehensive income (loss), net9,800 150 42,138 52,088 
Balance – September 30, 2025$— $(5,064)$(31,181)$(36,245)
(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)$4.3 million and $13.2 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the three and nine months ended September 30, 2025, respectively. The swap contract matured in September 2025.