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SHARE REPURCHASE PROGRAM
12 Months Ended
Dec. 31, 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 pays 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 audited consolidated financial statements). As a result, the Company recognized foreign currency losses of $386 million and $141 million for the years ended December 31, 2023 and 2022, respectively. The share repurchase program expired on March 31, 2024. During the year ended December 31, 2024, the Company did not acquire any shares under the aforementioned share repurchase program.