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STOCKHOLDERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTEREST | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
STOCKHOLDERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTEREST | STOCKHOLDERS’ EQUITY AND REDEEMABLE NONCONTROLLING INTEREST Stockholders' Equity Changes in Accumulated Other Comprehensive Loss by Component Comprehensive income (loss) includes: •Foreign currency translation adjustments; •Net deferred gains (losses) on cash flow hedges, which represent deferred gains (losses), net of tax, on interest rate-related derivative financial instruments designated as cash flow hedges, net of amounts reclassified to interest expense (see Note 8); and •Net changes in available-for-sale debt securities, which represent unrealized holding gains (losses), net of tax, on available-for-sale debt securities. For the three and nine months ended September 30, 2025 and 2024, the tax effects related to the deferred gains (losses) on cash flow hedges and net changes in available-for-sale debt securities were not material. Foreign currency translation adjustments related to indefinite investments in non-U.S. subsidiaries are not adjusted for income taxes. The changes in accumulated other comprehensive loss by component for the three and nine months ended September 30, 2025 were as follows:
For the Three Months Ended September 30, 2025 | Foreign Currency Translation Adjustments |  |  |  | Net Deferred Gains on Cash Flow Hedges, net of tax |  |  |  | Accumulated Other Comprehensive Loss
Balance, June 30, 2025 | $ | (21) |  |  |  |  | $ | 5 |  |  |  |  | $ | (16) |
Other comprehensive loss before reclassifications | (24) |  |  |  |  | — |  |  |  |  | (24) |
Net current period other comprehensive loss | (24) |  |  |  |  | — |  |  |  |  | (24) |
Balance, September 30, 2025 | $ | (45) |  |  |  |  | $ | 5 |  |  |  |  | $ | (40) |
For the Nine Months Ended September 30, 2025 | Foreign Currency Translation Adjustments |  |  |  | Net Deferred Gains on Cash Flow Hedges, net of tax |  |  |  | Accumulated Other Comprehensive Loss
Balance, December 31, 2024 | $ | (93) |  |  |  |  | $ | 5 |  |  |  |  | $ | (88) |
Other comprehensive income before reclassifications | 48 |  |  |  |  | — |  |  |  |  | 48 |
Net current period other comprehensive income | 48 |  |  |  |  | — |  |  |  |  | 48 |
Balance, September 30, 2025 | $ | (45) |  |  |  |  | $ | 5 |  |  |  |  | $ | (40) |
The changes in accumulated other comprehensive loss by component for the three and nine months ended September 30, 2024 were as follows:
For the Three Months Ended September 30, 2024 | Foreign Currency Translation Adjustments |  |  |  | Net Deferred Gains on Cash Flow Hedges, net of tax |  |  |  | Accumulated Other Comprehensive Loss
Balance, June 30, 2024 | $ | (22) |  |  |  |  | $ | 3 |  |  |  |  | $ | (19) |
Other comprehensive income before reclassifications | 1 |  |  |  |  | 3 |  |  |  |  | 4 |
Net current period other comprehensive income | 1 |  |  |  |  | 3 |  |  |  |  | 4 |
Balance, September 30, 2024 | $ | (21) |  |  |  |  | $ | 6 |  |  |  |  | $ | (15) |
For the Nine Months Ended September 30, 2024 | Foreign Currency Translation Adjustments |  |  |  | Net Deferred Gains on Cash Flow Hedges, net of tax |  |  |  | Accumulated Other Comprehensive Loss
Balance, December 31, 2023 | $ | (17) |  |  |  |  | $ | 3 |  |  |  |  | $ | (14) |
Other comprehensive (loss) income before reclassifications | (4) |  |  |  |  | 3 |  |  |  |  | (1) |
Net current period other comprehensive (loss) income | (4) |  |  |  |  | 3 |  |  |  |  | (1) |
Balance, September 30, 2024 | $ | (21) |  |  |  |  | $ | 6 |  |  |  |  | $ | (15) |
Dividend Program During each of the first three quarters of 2025, the Company's Board of Directors declared a quarterly cash dividend of $0.80 per common share. During each of the four quarters of 2024, the Company's Board of Directors declared a quarterly cash dividend of $0.75 per common share. Share Repurchase Program As of September 30, 2025, $0.7 billion remained available under the Company’s share repurchase authorization. The share repurchase authorization has no set expiration or termination date. Share Repurchases For the nine months ended September 30, 2025, the Company repurchased 0.9 million shares of its common stock for $150 million. For the nine months ended September 30, 2024, the Company repurchased no shares of its common stock. Shares Reissued from Treasury Stock For the nine months ended September 30, 2025 and 2024, the Company reissued 1.2 million shares and 1.0 million shares, respectively, from treasury stock under its Employee Stock Purchase Plan and its stock-based compensation program. For details regarding the Company's stock ownership and compensation plans, see Note 17 to the audited consolidated financial statements in the Company's 2024 Annual Report on Form 10-K. Redeemable Noncontrolling Interest In connection with the sale of an 18.9% noncontrolling interest in a subsidiary to UMass on July 1, 2015, the Company granted UMass the right to require the Company to purchase all of its interest in the subsidiary at fair value commencing July 1, 2020. The subsidiary performs diagnostic information services in a defined territory within the state of Massachusetts. Since the redemption of the noncontrolling interest is outside of the Company's control, it has been presented outside of stockholders' equity at the greater of its carrying amount or its fair value. As of September 30, 2025 and December 31, 2024, the redeemable noncontrolling interest was presented at its fair value. For further details regarding the fair value of the redeemable noncontrolling interest, see Note 6.

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