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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2023
Shareholders' Equity [Abstract] |
Shareholders' Equity | 11.SHAREHOLDERS’ EQUITY Common Stock Equivalents The Company has outstanding stock options, time-based restricted stock units (“RSUs”), and performance-based restricted stock units (“PSUs”) which were considered in the Company’s diluted earnings per share calculation (see Note 15). Stock Repurchases The Company’s Board of Directors authorizes the Company to purchase, from time to time, outstanding Class A common stock through open market repurchases in compliance with Rule 10b-18 under the Exchange Act, and/or in privately negotiated transactions at management’s discretion based on market and business conditions, applicable legal requirements, and other factors. Once authorized, the repurchase plan has no time deadline and will continue until otherwise modified or terminated by the Company’s Board of Directors at any time in its sole discretion. Shares repurchased are retired. On October 28, 2021, the Company’s Board of Directors authorized a $1.0 billion stock repurchase plan, replacing the prior plan. As of the date of this filing, the Company had $504.7 million of authorization remaining under the new plan. The following is a summary of the Company’s share repurchases:
|  | For the three months |  | For the six months
|  | ended June 30, |  | ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Total number of shares purchased (in millions) (1) |  |  | — |  |  | — |  |  | — |  |  | 1.3
Average price paid per share (1) |  | $ | — |  | $ | — |  | $ | — |  | $ | 332.00
Total price paid (in millions) (1) |  | $ | — |  | $ | — |  | $ | — |  | $ | 431.6
(1)Amounts reflected are based on the trade date and differ from the Consolidated Statements of Cash Flows which reflects share repurchases based on the settlement date. Dividends For the six months ended June 30, 2023, the Company paid the following cash dividends:
|  | Payable to Shareholders |  |  |  |  |  |
|  | of Record at the Close |  | Cash Paid |  | Aggregate Amount |  |
Date Declared |  | of Business on |  | Per Share |  | Paid |  | Date Paid
February 20, 2023 |  | March 10, 2023 |  | $0.85 |  | $93.9 million |  | March 24, 2023
April 30, 2023 |  | May 26, 2023 |  | $0.85 |  | $92.1 million |  | June 21, 2023
Dividends paid in 2023 were ordinary taxable dividends. Subsequent to June 30, 2023, the Company declared the following cash dividends:
|  | Payable to Shareholders |  | Cash to |  |
|  | of Record at the Close |  | be Paid |  |
Date Declared |  | of Business on |  | Per Share |  | Date to be Paid
July 30, 2023 |  | August 24, 2023 |  | $0.85 |  | September 20, 2023

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