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Stockholders' Equity | 3 Months Ended
--- | ---
Mar. 31, 2025
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 March 31,
|  |  |  |  |  | 2025 |  | 2024
|  |  |  |  |  | (in millions, except per share data)
Dividends declared per share |  |  |  |  |  | $ | 0.76 |  |  | $ | 0.66 |
Total dividends declared |  |  |  |  |  | $ | 692 |  |  | $ | 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 March 31,
|  | 2025 |  | 2024
|  | Outstanding Shares |  | Outstanding Shares
|  | Class A |  | Class B |  | Class A |  | Class B
|  | (in millions)
Balance at beginning of period |  | 906.6 |  |  | 6.8 |  |  | 927.3 |  |  | 7.2 |
Purchases of treasury stock |  | (4.7) |  |  | — |  |  | (4.4) |  |  | — |
Share-based payments |  | 1.1 |  |  | — |  |  | 1.2 |  |  | — |
Conversion of Class B to Class A common stock |  | — |  |  | — |  |  | 0.1 |  |  | (0.1) |
Balance at end of period |  | 903.0 |  |  | 6.8 |  |  | 924.2 |  |  | 7.1 |
In December 2024 and 2023, the Company’s Board of Directors approved share repurchase programs of its Class A common stock authorizing the Company to repurchase up to $12.0 billion and $11.0 billion, respectively. The following table summarizes the Company’s share repurchases of its Class A common stock:
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
|  | (in millions, except per share data)
Dollar-value of shares repurchased |  | $ | 2,549 |  |  | $ | 1,992 |
Shares repurchased |  | 4.7 |  |  | 4.4 |
Average price paid per share |  | $ | 541.38 |  |  | $ | 454.23 |
As of March 31, 2025, the remaining authorization under share repurchase programs approved by the Company’s Board of Directors was $12.6 billion. Through April 28, 2025, the Company repurchased $884 million dollar-value of shares. As of April 28, 2025, the remaining authorization under share repurchase programs approved by the Company’s Board of Directors was $11.8 billion.

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