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REPURCHASES OF COMMON STOCK | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
REPURCHASES OF COMMON STOCK | REPURCHASES OF COMMON STOCK We primarily acquire shares of our common stock by repurchases in the open market. We also acquire shares that are surrendered by employees in payment for the statutory withholding taxes due on the vesting of restricted stock units and the settlement of deferred stock units, otherwise referred to herein as employee surrenders. We issue shares of treasury stock upon the vesting of certain restricted stock units and upon the exercise of certain stock options. The Inflation Reduction Act of 2022 imposed a nondeductible 1% excise tax on the net value of certain stock repurchases, which is included in the cost of treasury stock acquired in open market repurchases. The number of shares of treasury stock issued during the three months ended March 31, 2025, and 2024, was not material. The following is a summary of our open market common stock repurchases, reported on a trade date basis, and shares acquired through employee surrenders:
(in thousands, except per share amounts) | For the Three Months Ended March 31,
| 2025 |  | 2024
Shares repurchased in the open market | 931 |  |  | 303 |
Shares acquired through employee surrenders for statutory tax withholding | 14 |  |  | 18 |
Total shares repurchased | 945 |  |  | 321 |
Cost of shares repurchased in the open market | $ | 409,215 |  |  | $ | 167,102 |
Cost of shares for employee surrenders | 6,124 |  |  | 10,189 |
Total cost of shares | $ | 415,339 |  |  | $ | 177,291 |
Average cost per share - open market repurchases | $ | 439.64 |  |  | $ | 550.90 |
Average cost per share - employee surrenders | $ | 444.52 |  |  | $ | 560.56 |
Average cost per share - total | $ | 439.71 |  |  | $ | 551.45 |

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505-30/tableOfContent + Details
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