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ACCELERATED SHARE REPURCHASE (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Accelerated Share Repurchases

The following table summarizes the terms of the ASR agreements (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
April 2024						$	150.0					1.4						$	85.95					80		%				May 2024						1.7						$	86.72
August 2024						$	500.0					5.8						$	68.93					80		%				(a)

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(a)     The ASR agreement has a scheduled settlement date of December 27, 2024. At the conclusion of the ASR agreement, the Company may receive additional shares or may be required to pay additional cash or shares (at our election).

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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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