v3.24.3
SHAREHOLDERS' EQUITY (DEFICIT)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
SHAREHOLDERS' EQUITY (DEFICIT) SHAREHOLDERS’ EQUITY (DEFICIT)
Return of capital
On July 28, 2022, the Board of Directors authorized a stock repurchase program (the “2022 Repurchase Program”) for the purchase of up to $1,000.0 million worth of shares of MSCI’s common stock in addition to the $539.1 million of authorization then remaining under a previously existing share repurchase program that was replaced by, and incorporated into, the 2022 Repurchase Program for a total of $1,539.1 million of stock repurchase authorization available under the 2022 Repurchase Program.
Share repurchases made pursuant to the 2022 Repurchase Program may take place in the open market or in privately negotiated transactions from time to time based on market and other conditions. This authorization may be modified, suspended or terminated by the Board of Directors at any time without prior notice. As of September 30, 2024, there was $405.4 million of available authorization remaining under the 2022 Repurchase Program.
The following table provides information with respect to repurchases of the Company’s common stock made on the open market:
Nine months ended
(in thousands, except per share data)
Average
Price
Paid Per
Share		Total
Number of
Shares
Repurchased
Dollar
Value of
Shares
Repurchased(1)
September 30, 2024$500.52 880 $440,265 
September 30, 2023$468.26 980 $458,721 
___________________________
(1)The values in this column exclude the 1% excise tax incurred on share repurchases pursuant to the Inflation Reduction Act. Any excise tax incurred is recognized as part of the cost of the shares acquired in the Unaudited Condensed Consolidated Statement of Shareholders’ Equity (Deficit).
The following table presents dividends declared per common share as well as total amounts declared, distributed and deferred for the periods indicated:
Dividends
(in thousands, except per share data)Per ShareDeclaredDistributed(Released)/Deferred
2024
Three Months Ended March 31,$1.60 $129,444 $131,378 $(1,934)
Three Months Ended June 30,1.60 127,304 126,958 346 
Three Months Ended September 30,1.60 126,185 125,763 422 
Total$4.80 $382,933 $384,099 $(1,166)
2023    
Three Months Ended March 31,$1.38 $111,986 $112,189 $(203)
Three Months Ended June 30,1.38 110,383 110,147 236 
Three Months Ended September 30,1.38 109,847 109,408 439 
Total$4.14 $332,216 $331,744 $472 
Common Stock
The following table presents activity related to shares of common stock issued and repurchased during the nine months ended September 30, 2024:
Common StockTreasury Common Stock
IssuedStockOutstanding
Balance at December 31, 2023
133,817,332(54,726,120)79,091,212
Dividend payable/paid61—61
Common stock issued252,637—252,637
Shares withheld for tax withholding —(119,861)(119,861)
Shares repurchased under stock repurchase programs———
Shares issued to directors67(67)—
Balance at March 31, 2024
134,070,097(54,846,048)79,224,049
Dividend payable/paid———
Common stock issued779—779
Shares withheld for tax withholding —(359)(359)
Shares repurchased under stock repurchase programs—(499,224)(499,224)
Shares issued to directors4,94119,49924,440
Balance at June 30, 2024
134,075,817(55,326,132)78,749,685
Dividend payable/paid———
Common stock issued3,301—3,301
Shares withheld for tax withholding—(1,387)(1,387)
Shares repurchased under stock repurchase programs—(380,397)(380,397)
Shares issued to directors13(13)—
Balance at September 30, 2024
134,079,131(55,707,929)78,371,202