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STOCKHOLDERS' EQUITY | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Dividends The following table provides details of dividend payments, excluding dividend equivalent rights for unvested stock awards, during 2025 under our Board approved quarterly cash dividend policy:
Record Date |  | Payment Date |  | Amount per Share |  | Total Amount
|  |  |  |  |  | (in millions)
2025 payments |  |  |  |  |  |
12/31/2024 |  | 1/31/2025 |  | $ | 0.8850 |  |  | $ | 107 |
In February 2025, the Board declared a cash dividend of $0.885 per share payable on April 25, 2025 to stockholders of record as of the close of business on March 28, 2025. In April 2025, the Board declared a cash dividend of $0.885 per share payable on July 25, 2025 to stockholders of record as of the close of business on June 27, 2025. Declaration and payment of future quarterly dividends are at the discretion of our Board and may be adjusted as business needs or market conditions change. Stock Repurchases Our Board of Directors may authorize the purchase of our common stock shares. Under the share repurchase authorization, shares may be purchased from time to time at prevailing prices in the open market, by block purchases, through plans designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, or in privately-negotiated transactions, including pursuant to accelerated share repurchase agreements with investment banks, subject to certain regulatory restrictions on volume, pricing, and timing. Effective February 16, 2024, the Board of Directors replaced the February 2023 repurchase authorization (of which approximately $824 million remained unused) with a new share repurchase authorization for repurchases of up to $3 billion of our common shares exclusive of shares repurchased in connection with employee stock plans, expiring as of February 15, 2027, which we refer to as the 2024 repurchase authorization. During the three months ended March 31, 2025, we did not repurchase shares in open market transactions under the February 2024 share repurchase authorization. During the three months ended March 31, 2024, we repurchased 1.8 million shares in open market transactions for $702 million. These shares were repurchased at an average price of $388.78 under the February 2023 and 2024 share repurchase authorizations. Our remaining repurchase authorization was $2.9 billion as of April 29, 2025. In connection with employee stock plans, we acquired 0.03 million common shares for $9 million and 0.04 million common shares for $15 million during the three months ended March 31, 2025 and 2024, respectively. For additional information regarding our stockholders' equity, refer to Note 16 to the audited Consolidated Financial Statements included in Part II, Item 8, "Financial Statements and Supplementary Data" in our 2024 Form 10-K.

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