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Equity | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Equity | Equity Stock Repurchase Program In December 2021, our Board approved an aggregate of $3.15 billion for future repurchases of our common stock with no fixed expiration date that became effective on January 1, 2022. The approval of our Board for the stock repurchases does not obligate us to acquire any particular amount of our common stock. In addition, our Board may increase or decrease the amount available for repurchases from time to time. We fund repurchases from our operating cash flow or borrowings under our debt facilities or our Commercial Paper Program. Repurchases may be made from time to time on the open market, through established trading plans, in privately-negotiated transactions or otherwise, in accordance with all applicable securities laws, rules and regulations. In connection with our acquisition of Black Knight, on May 4, 2022 we terminated our Rule 10b5-1 trading plan and suspended share repurchases. Therefore, we did not have any share repurchases during the nine and three months ended September 30, 2024 or 2023. As of September 30, 2024, the remaining balance of Board approved funds for future repurchases was $2.5 billion. We may begin or discontinue stock repurchases at any time and may enter into, amend or terminate a Rule 10b5-1 trading plan at any time or enter into additional plans, subject to applicable rules. Dividends During the nine months ended September 30, 2024 and 2023, we declared and paid cash dividends per share of $1.35 and $1.26, respectively, for an aggregate payout of $780 million and $713 million, respectively. During the three months ended September 30, 2024 and 2023, we declared and paid cash dividends per share of $0.45 and $0.42, respectively, for an aggregate payout of $261 million and $241 million, respectively. Our Board has adopted a quarterly dividend declaration policy providing that the declaration of any dividends will be approved quarterly by the Board or the Audit Committee, taking into account such factors as our evolving business model, prevailing business conditions, our current and future planned strategic growth initiatives, our financial results and capital requirements and other considerations which our Board deems relevant, without a predetermined annual net income payout ratio. Accumulated Other Comprehensive Income/(Loss) The following tables present changes in the accumulated balances for each component of other comprehensive income/ (loss) (in millions):
| Changes in Accumulated Other Comprehensive Income/(Loss) by Component
| Foreign currency translation adjustments |  | Comprehensive income from equity method investment |  | Employee benefit plans adjustments |  | Total
Balance, as of December 31, 2023 | $ | (230) |  |  | $ | 2 |  |  | $ | (66) |  |  | $ | (294) |
Other comprehensive income | 36 |  |  | 9 |  |  | — |  |  | 45 |
Income tax expense | — |  |  | (2) |  |  | — |  |  | (2) |
Net current period other comprehensive income | 36 |  |  | 7 |  |  | — |  |  | 43 |
Balance, as of September 30, 2024 | $ | (194) |  |  | $ | 9 |  |  | $ | (66) |  |  | $ | (251) |
| Changes in Accumulated Other Comprehensive Income/(Loss) by Component
| Foreign currency translation adjustments |  | Comprehensive income from equity method investment |  | Employee benefit plans adjustments |  | Total
Balance, as of June 30, 2024 | $ | (252) |  |  | $ | 9 |  |  | $ | (66) |  |  | $ | (309) |
Other comprehensive income | 58 |  |  | — |  |  | — |  |  | 58 |
Income tax expense | — |  |  | — |  |  | — |  |  | — |
Net current period other comprehensive income | 58 |  |  | — |  |  | — |  |  | 58 |
Balance, as of September 30, 2024 | $ | (194) |  |  | $ | 9 |  |  | $ | (66) |  |  | $ | (251) |
| Changes in Accumulated Other Comprehensive Income/(Loss) by Component
| Foreign currency translation adjustments |  | Comprehensive income from equity method investment |  | Employee benefit plans adjustments |  | Total
Balance, as of December 31, 2022 | $ | (278) |  |  | $ | 2 |  |  | $ | (55) |  |  | $ | (331) |
Other comprehensive income/(loss) | — |  |  | — |  |  | — |  |  | — |
Income tax benefit/(expense) | — |  |  | — |  |  | — |  |  | — |
Net current period other comprehensive income/(loss) | — |  |  | — |  |  | — |  |  | — |
Balance, as of September 30, 2023 | $ | (278) |  |  | $ | 2 |  |  | $ | (55) |  |  | $ | (331) |
| Changes in Accumulated Other Comprehensive Income/(Loss) by Component
| Foreign currency translation adjustments |  | Comprehensive income from equity method investment |  | Employee benefit plans adjustments |  | Total
Balance, as of June 30, 2023 | $ | (231) |  |  | $ | 2 |  |  | $ | (55) |  |  | $ | (284) |
Other comprehensive loss | (47) |  |  | — |  |  | — |  |  | (47) |
Income tax benefit/(expense) | — |  |  | — |  |  | — |  |  | — |
Net current period other comprehensive loss | (47) |  |  | — |  |  | — |  |  | (47) |
Balance, as of September 30, 2023 | $ | (278) |  |  | $ | 2 |  |  | $ | (55) |  |  | $ | (331) |

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