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SHARE REPURCHASE PROGRAM
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
SHARE REPURCHASE PROGRAM SHARE REPURCHASE PROGRAM
On February 21, 2023, the Board authorized the Company to repurchase shares of the Company’s common stock, for an aggregate consideration of up to $900 million.
The Company acquired shares of its own common stock in the Argentine market and paid for them in Argentine Pesos at a price that reflects the additional cost of accessing U.S. dollars through securities denominated in U.S. dollars, because of restrictions imposed by the Argentine government for buying U.S. dollars at the official exchange rate in Argentina (see Note 2 – Summary of significant accounting policies - Argentine currency status and macroeconomic outlook of these unaudited interim condensed consolidated financial statements). As a result, the Company recognized foreign currency losses of $213 million for the six-month period ended June 30, 2023, while foreign currency losses for the three-month period ended June 30, 2023 amounted to $157 million. During the three-month period ended March 31, 2024, the Company had not acquired any shares under the aforementioned share repurchase program.