Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of quarterly cash dividends declared

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,
	2024		2023		2024		2023
	(in millions, except per share data)
Dividends declared per share	$	0.66	$	0.57	$	1.98	$	1.71
Total dividends declared	$	607	$	536	$	1,833	$	1,615

Schedule of Changes in Common Stock Outstanding

The following table presents the changes in the Company’s outstanding Class A and Class B common stock:


	Three Months Ended September 30,
	2024		2023
	Outstanding Shares		Outstanding Shares
	Class A	Class B	Class A	Class B
	(in millions)
Balance at beginning of period	918.5	7.1	935.9	7.4
Purchases of treasury stock	(6.3)	—	(4.8)	—
Share-based payments	0.4	—	0.5	—
Conversion of Class B to Class A common stock	—	—	—	—
Balance at end of period	912.6	7.1	931.6	7.4


	Nine Months Ended September 30,
	2024		2023
	Outstanding Shares		Outstanding Shares
	Class A	Class B	Class A	Class B
	(in millions)
Balance at beginning of period	927.3	7.2	948.4	7.6
Purchases of treasury stock	(16.5)	—	(19.2)	—
Share-based payments	1.7	—	2.2	—
Conversion of Class B to Class A common stock	0.1	(0.1)	0.2	(0.2)
Balance at end of period	912.6	7.1	931.6	7.4

Schedule of share repurchases and authorizations

The following table summarizes the Company’s share repurchases of its Class A common stock:


	Nine Months Ended September 30,
	2024		2023
	(in millions, except per share data)
Dollar-value of shares repurchased 1	$	7,565	$	7,200
Shares repurchased	16.5		19.2
Average price paid per share	$	458.36	$	375.34

1The dollar-value of shares repurchased does not include a 1% excise tax. The incremental tax is recorded in treasury stock on the consolidated balance sheet.