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Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]  
Stockholders' Equity Equity
2021 "At-the-Market" Stock Offering Program
The Company previously maintained an "at-the-market" stock offering program through which it had the right to issue and sell shares of its common stock having an aggregate gross sales price of up to $750 million ("2021 ATM Program"). The Company terminated its previously outstanding 2021 ATM Program in March 2024 with the entire gross sales price of $750 million remaining unsold.
2024 "At-the-Market" Stock Offering Program
In March 2024, the Company established a new "at-the-market" stock offering program through which it may issue and sell shares of its common stock having an aggregate gross sales price of up to $750 million ("2024 ATM Program"). Sales under the 2024 ATM Program may be made by means of ordinary brokers' transactions on the New York Stock Exchange ("NYSE") or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or, subject to the Company's specific instructions, at negotiated prices. The Company intends to use the net proceeds from any sales under the 2024 ATM Program for general corporate purposes, which may include (1) the funding of future acquisitions or investments or (2) the repayment or repurchase of any outstanding indebtedness. The Company has not sold any shares of common stock under the 2024 ATM Program.
During the year ended December 31, 2024, the following dividends/distributions were declared or paid:
Equity TypeDeclaration DateRecord DatePayment DateDividends Per Share
Aggregate
Payment
Amount(a)
Common StockFebruary 21, 2024March 15, 2024March 28, 2024$1.565 $683 
Common StockMay 22, 2024June 14, 2024June 28, 2024$1.565 $684 
Common StockAugust 7, 2024September 13, 2024September 30, 2024$1.565 $683 
Common StockNovember 6, 2024December 13, 2024December 31, 2024$1.565 $682 
(a)Inclusive of dividends accrued for holders of unvested RSUs, which will be paid when and if the RSUs vest.

See also note 17 for a discussion of the Company's common stock dividend declared in March 2025.
Tax Treatment of Dividends
The following table summarizes, for income tax purposes, the nature of dividends paid during 2024 on the Company's common stock.
Equity TypePayment DateCash Distribution (per share)Ordinary Taxable Dividend (per share)
Qualified Taxable Dividend (per share)(a)
Section 199A Dividend (per share)Non-Taxable Distribution (per share)
Common StockMarch 28, 2024$1.565000 $0.884582 $0.018596 $0.865986 $0.680418 
Common StockJune 28, 2024$1.565000 $0.884582 $0.018596 $0.865986 $0.680418 
Common StockSeptember 30, 2024$1.565000 $0.884582 $0.018596 $0.865986 $0.680418 
Common StockDecember 31, 2024$1.565000 $0.884582 $0.018596 $0.865986 $0.680418 
(a)Qualified taxable dividend and section 199A dividend amounts are included in ordinary taxable dividend amounts.
Purchases of the Company's Common Stock
During the years ended December 31, 2024, 2023 and 2022, the Company purchased 0.3 million, 0.2 million and 0.4 million shares of its common stock, respectively, utilizing $33 million, $30 million and $65 million in cash, respectively. The shares of common stock purchased relate to shares withheld in connection with the payment of withholding taxes upon vesting of RSUs.