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ACCELERATED SHARE REPURCHASE
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
ACCELERATED SHARE REPURCHASE ACCELERATED SHARE REPURCHASE
During 2024 and 2023, the Company entered into accelerated share repurchase ("ASR") agreements providing for the repurchase of the Company's common stock based on the volume-weighted average price ("VWAP") of the Company's common stock during the term of the applicable agreements, less a discount. The following table summarizes the terms of the ASR agreements (dollars and shares in millions, except per share data):
  Initial DeliveryFinal Settlement
Agreement DateAmount
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 20232.5 $79.28 
April 2024$150.0 1.4 $85.95 80 %May 20241.7 $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).

The ASR agreements were accounted for as two separate transactions: (1) the value of the initial delivery of shares was recorded as shares of common stock acquired in a treasury stock transaction on the acquisition date, and (2) the remaining amount of the purchase price paid was recorded as a forward contract indexed to the Company's own common stock and was initially recorded in Additional Paid-in Capital and subsequently, upon settlement, will be transferred to Treasury Stock on the consolidated condensed balance sheets. The initial delivery of shares resulted in an immediate reduction of the outstanding shares used to calculate the weighted-average common shares outstanding for basic and diluted earnings per share. The Company determined that the forward contracts indexed to the Company's common stock met all the applicable criteria for equity classification and, therefore, were not accounted for as a derivative instrument.