v3.26.3
Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Equity 12. Equity
Share Repurchase Program
The Board of Directors reset the total repurchase authorization of the Company’s previously approved share
repurchase program to $2.0 billion in shares of the Company’s common stock, effective as of February 26, 2026.
Under the share repurchase program, shares of the Company’s common stock may be repurchased from time to
time in open market transactions, in privately negotiated transactions, or otherwise, including through Rule 10b5-1
plans. The timing and actual number of shares of common stock repurchased will depend on a variety of factors,
including legal requirements and price, economic, and market conditions. In addition to repurchases of common
stock, the share repurchase program is used for the payment of tax withholding amounts upon net share settlement
of equity-based awards granted pursuant to our Equity Incentive Plan or otherwise based on the value of shares
withheld that would have otherwise been issued to the award holder. The share repurchase program may be
suspended or discontinued at any time and does not have a specified expiration date. As of September 30, 2026,
$1.4 billion of repurchase capacity remained under the program, which reflects both common shares repurchased
and shares retired in connection with the net share settlement of equity-based awards. The following table presents
the Company’s shares that have been repurchased or retired as a result of net share settlement of equity-based
awards during the three and nine months ended September 30, 2026 and 2025. Dollar amounts exclude the impact
of excise taxes.
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Shares
$
Shares
$
Shares
$
Shares
$
(Dollars in millions, except share data)
Shares repurchased
2,637,455
$125.0
1,568,399
$100.0
10,554,697
$490.0
4,236,146
$225.0
Shares retired in connection with the
net share settlement of equity-
based awards
1,854,503
85.4
1,693,158
102.7
4,406,553
229.3
4,620,513
257.8
Total
4,491,958
$210.4
3,261,557
$202.7
14,961,250
$719.3
8,856,659
$482.8
Dividends
The table below presents information regarding the quarterly dividends on the common shares, which were
made at the sole discretion of the Board of Directors of the Company.
Dividend Record Date
Dividend Payment Date
Dividend per Common
Share
Dividend to Common
Shareholders
(Dollars in millions, except per share data)
May 19, 2025
May 27, 2025
$0.35
$126.3
August 18, 2025
August 28, 2025
0.35
126.5
November 10, 2025
November 19, 2025
0.35
125.9
February 16, 2026
February 20, 2026
0.35
126.4
Total 2025 Dividend Year
$1.40
$505.1
May 18, 2026
May 28, 2026
$0.35
$125.7
August 17, 2026
August 26, 2026
0.35
124.5
November 16, 2026
November 23, 2026
0.35
123.9
Total 2026 Dividend Year (through Q3 2026)
$1.05
$374.1
The Board of Directors will take into account general economic and business conditions, as well as the
Company’s strategic plans and prospects, business and investment opportunities, financial condition and
obligations, legal, tax, and regulatory restrictions, other constraints on the payment of dividends by the Company to
its common shareholders or by subsidiaries to the Company, and other such factors as the Board of Directors may
deem relevant. In addition, the terms of the Company’s credit facility provide certain limits on the Company’s ability
to pay dividends.