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Stockholders' Equity
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
(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 
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,
20242023
 Outstanding SharesOutstanding Shares
 Class AClass BClass AClass B
(in millions)
Balance at beginning of period918.5 7.1 935.9 7.4 
Purchases of treasury stock(6.3)— (4.8)— 
Share-based payments0.4 — 0.5 — 
Conversion of Class B to Class A common stock— — — — 
Balance at end of period912.6 7.1 931.6 7.4 
Nine Months Ended September 30,
20242023
 Outstanding SharesOutstanding Shares
 Class AClass BClass AClass B
(in millions)
Balance at beginning of period927.3 7.2 948.4 7.6 
Purchases of treasury stock(16.5)— (19.2)— 
Share-based payments1.7 — 2.2 — 
Conversion of Class B to Class A common stock0.1 (0.1)0.2 (0.2)
Balance at end of period912.6 7.1 931.6 7.4 
In December 2023 and 2022, the Company’s Board of Directors approved share repurchase programs of its Class A common stock authorizing the Company to repurchase up to $11.0 billion and $9.0 billion, respectively. The following table summarizes the Company’s share repurchases of its Class A common stock:
Nine Months Ended September 30,
20242023
(in millions, except per share data)
Dollar-value of shares repurchased 1
$7,565 $7,200 
Shares repurchased16.5 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.
As of September 30, 2024, the remaining authorization under the share repurchase programs approved by the Company’s Board of Directors was $6.6 billion.