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ACCELERATED SHARE REPURCHASE (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Accelerated Share Repurchases

The following table summarizes the terms of the ASR agreement (dollars and shares in millions, except per share data):

												Initial Delivery																		Final Settlement
Agreement Date						Amount Paid						Shares Received						Price per Share						Value of Shares as % of Contract Value						Settlement Date						Total Shares Received						Average Price per Share
February 2023						$	200.0					2.0						$	80.44					80		%				March 2023						2.5						$	79.28

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- Definition

Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 30
-Name Accounting Standards Codification
-Section 25
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481138/505-30-25-5

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- References

No definition available.

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