TREASURY STOCK AND DIVIDENDS

9 Months Ended

Sep. 30, 2025

In the first quarter of 2025, the Company's Board of Directors (the "Board") authorized a program to repurchase up to $20 billion of the Company's common stock. At September 30, 2025, the Company had a total remaining authorization of $23.9 billion related to share repurchase programs authorized by the Board. Additionally, the Board has given the Company the general authorization to repurchase shares of its common stock withheld to satisfy employee withholding tax obligations related to stock-based compensation.

The following table summarizes the Company's stock repurchase activities:



(in millions, except for shares, which are reflected in thousands)	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
	Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount
Authorized stock repurchase programs	118	$	663	464	$	1,767	774	$	3,780	1,345	$	4,978
General authorization for shares withheld on stock award vesting	2	10		2	9		105	518		94	330
Total	120	$	673	466	$	1,776	879	$	4,298	1,439	$	5,308

For the nine months ended September 30, 2025 and 2024, the Company remitted employee withholding taxes of $516 million and $329 million, respectively, to tax authorities, which may differ from the aggregate cost of the shares withheld for taxes for each period due to the timing in remitting the taxes. The cash remitted to the tax authorities is included in financing activities in the Unaudited Consolidated Statements of Cash Flows.

As of September 30, 2025 and December 31, 2024, the Company recorded estimated liabilities of $31 million and $56 million, respectively, related to excise taxes on share repurchases, which are included in "Accrued expenses and other current liabilities" in the Consolidated Balance Sheets. During the nine months ended September 30, 2025, the Company remitted excise taxes of $56 million to tax authorities, which is included in financing activities in the Unaudited Consolidated Statement of Cash Flows.

During the nine months ended September 30, 2025 and 2024, the Board declared quarterly cash dividends of $9.60 and $8.75, respectively, per share of common stock and the Company paid $941 million and $885 million, respectively, in total cash dividends. In October 2025, the Board declared a cash dividend of $9.60 per share of common stock, payable on December 31, 2025 to stockholders of record as of the close of business on December 5, 2025.