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Share Repurchase Program and Treasury Stock | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
SHARE REPURCHASE PROGRAM AND TREASURY STOCK | SHARE REPURCHASE PROGRAM AND TREASURY STOCK The Company has $2.1 billion of remaining availability for its share repurchase program as of June 30, 2024. The share repurchases are expected to be funded from cash generated from operating activities, borrowings, and cash balances. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity, and other factors. The Company has purchased 32.0 million shares at an average price per share of $292.31 since the inception of the program in 2004 through June 30, 2024. During the six months ended June 30, 2024 and 2023, the Company spent $425.0 million and $500.0 million on the repurchase of 330,492 shares and 344,382 shares at an average price per share of $1,285.94 and $1,464.00, respectively. The Company also reissued 23,538 shares and 70,191 shares held in treasury upon the exercise of stock options and vesting of restricted stock units during the six months ended June 30, 2024 and 2023, respectively.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505-30/tableOfContent + Details
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