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Share Repurchase Program and Treasury Stock
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
SHARE REPURCHASE PROGRAM AND TREASURY STOCK SHARE REPURCHASE PROGRAM AND TREASURY STOCK
The Company has $1.9 billion of remaining availability for its share repurchase program as of September 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 32.2 million shares at an average price per share of $297.53 since the inception of the program in 2004 through September 30, 2024. During the nine months ended September 30, 2024 and 2023, the Company spent $637.5 million and $724.0 million on the repurchase of 482,413 shares and 526,019 shares at an average price per share of $1,321.46 and $1,388.54, respectively. The Company also reissued 58,909 shares and 70,812 shares held in treasury upon the exercise of stock options and vesting of restricted stock units during the nine months ended September 30, 2024 and 2023, respectively.