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Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Equity 13. Equity
Share Repurchase Program
The Board of Directors reset the total repurchase authorization of the Company’s previously approved share repurchase
program to $1.4 billion in shares of the Company’s common stock, effective as of February 6, 2024. Under the share repurchase
program, shares of the Company’s common stock may be repurchased from time to time in open market transactions, in
privately negotiated transactions, or otherwise, including through Rule 10b5-1 plans. The timing and actual number of shares of
common stock repurchased will depend on a variety of factors, including legal requirements and price, economic, and market
conditions. In addition to repurchases of common stock, the share repurchase program is used for the payment of tax
withholding amounts upon net share settlement of equity-based awards granted pursuant to our Equity Incentive Plan or
otherwise based on the value of shares withheld that would have otherwise been issued to the award holder. The share
repurchase program may be suspended or discontinued at any time and does not have a specified expiration date. As of
March 31, 2025, $675.6 million of repurchase capacity remained under the program, which reflects both common shares
repurchased and shares retired in connection with the net share settlement of equity-based awards. The following table presents
the Company’s shares that have been repurchased or retired as a result of net share settlement of equity-based awards during the
three months ended March 31, 2025 and 2024. Dollar amounts exclude the impact of excise taxes.
Three Months Ended March 31,
2025
2024
Shares
$
Shares
$
(Dollars in millions, except share data)
Shares repurchased
493,781
$25.0
2,853,602
$130.6
Shares retired in connection with the net share settlement of equity-based awards
2,835,354
151.5
481,261
19.4
Total
3,329,135
$176.5
3,334,863
$150.0
Dividends
The table below presents information regarding the quarterly dividends on the common shares, which were made at the
sole discretion of the Board of Directors of the Company.
Dividend Record Date
Dividend Payment Date
Dividend per Common
Share
Dividend to Common
Stockholders
(Dollars in millions, except per share data)
May 14, 2024
May 21, 2024
$0.35
$125.6
August 16, 2024
August 26, 2024
0.35
125.5
November 18, 2024
November 25, 2024
0.35
125.2
February 21, 2025
February 28, 2025
0.35
126.4
Total 2024 Dividend Year
$1.40
$502.7
May 19, 2025
May 27, 2025
$0.35
$126.4
Total 2025 Dividend Year (through Q1 2025)
$0.35
$126.4
The Board of Directors will take into account general economic and business conditions, as well as the Company’s
strategic plans and prospects, business and investment opportunities, financial condition and obligations, legal, tax and
regulatory restrictions, other constraints on the payment of dividends by the Company to its common stockholders or by
subsidiaries to the Company, and other such factors as the Board of Directors may deem relevant. In addition, the terms of the
Company’s credit facility provide certain limits on the Company’s ability to pay dividends.