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Common Stock and Related Matters | 9 Months Ended
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Sep. 30, 2024
Class of Stock Disclosures [Abstract] |
Common Stock and Related Matters | Note 8 — Common Sto ck and Related Matters Common Share Repurchase Program In October 2020, our Board of Directors approved a share repurchase program (the “2020 Share Repurchase Program”) for the repurchase of up to $500.0 million of our outstanding common stock. During the second quarter of 2023, we exhausted the 2020 Share Repurchase Program. In May 2023, our Board of Directors approved a share repurchase program (the “2023 Share Repurchase Program”) for the repurchase of up to $1.0 billion of our outstanding common stock. In July 2024, our Board of Directors approved a new share repurchase program (the “2024 Share Repurchase Program” and, together with the 2023 Share Repurchase Program, the “Share Repurchase Programs”) for the repurchase of up to $1.0 billion of our outstanding common stock. The amount authorized under the 2024 Share Repurchase Program was in addition to the amount remaining under the 2023 Share Repurchase Program. We are not obligated to repurchase any specific dollar amount or number of shares under the Share Repurchase Programs and may discontinue these programs at any time. For the three and nine months ended September 30, 2024, we repurchased 1,150,107 shares and 5,322,367 shares of our common stock at a weighted average per share price of $146.02 and $121.50 for a total net cost of $167.9 million and $646.7 million, respectively. For the three and nine months ended September 30, 2023, we repurchased 1,583,317 shares and 4,395,519 shares of our common stock at a weighted average per share price of $83.38 and $75.77 for a total net cost of $132.0 million and $333.1 million, respectively. As of September 30, 2024, there was $1.1 billion remaining under the Share Repurchase Programs. Common Stock Dividends In April 2024, we declared an increase to our common dividend to $0.75 per common share, or $3.00 per common share annualized effective for the first quarter of 2024. The following table details the dividends declared and/or paid by us to common shareholders for the nine months ended September 30, 2024:
Three Months Ended |  | Date Paid or To Be Paid |  | Total Common Dividends Declared |  |  | Amount of Common Dividends Paid or To Be Paid |  |  | Dividends on Share-Based Awards |  |  | Dividends Declared per Share of Common Stock |
(In millions, except per share amounts) |
September 30, 2024 |  | November 15, 2024 |  | $ | 165.2 |  |  | $ | 163.5 |  |  | $ | 1.7 |  |  | $ | 0.75000 |
June 30, 2024 |  | August 15, 2024 |  |  | 166.1 |  |  |  | 164.3 |  |  |  | 1.8 |  |  |  | 0.75000 |
March 31, 2024 |  | May 15, 2024 |  |  | 168.1 |  |  |  | 166.3 |  |  |  | 1.8 |  |  |  | 0.75000 |
December 31, 2023 |  | February 15, 2024 |  |  | 112.8 |  |  |  | 111.6 |  |  |  | 1.2 |  |  |  | 0.50000 |

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