Common Stock and Related Matters |
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| Class of Stock Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock and Related Matters |
Common Share Repurchase Program
In July 2024, our Board of Directors approved a share repurchase program (the “2024 Share Repurchase Program”) for the repurchase of up to $1.0 billion of our outstanding common stock. In addition, in August 2025, our Board of Directors approved a new share repurchase program (the “2025 Share Repurchase Program” and, together with the 2024 Share Repurchase Program, the “Share Repurchase Programs”) for the repurchase of up to $1.0 billion of our outstanding common stock. We are not obligated to repurchase any specific dollar amount or number of shares under the Share Repurchase Programs and may discontinue these programs at any time.
For the three and nine months ended September 30, 2026, we repurchased 180,768 shares and 716,671 shares of our common stock at a weighted average per share price of $287.64 and $261.04 for a total net cost of $52.0 million and $187.1 million, respectively. For the three and nine months ended September 30, 2025, we repurchased 932,023 shares and 3,538,285 shares of our common stock at a weighted average per share price of $166.95 and $170.93 for a total net cost of $155.6 million and $604.8 million, respectively. As of September 30, 2026, there was $1,186.5 million remaining under the Share Repurchase Programs.
Common Stock Dividends
In April 2026, we declared an increase to our common dividend to $1.25 per common share, or $5.00 per common share annualized, effective for the first quarter of 2026.
The following table details the dividends declared and/or paid by us to common shareholders for the nine months ended September 30, 2026:
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