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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2025
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 On April 27, 2025, the Company’s Board of Directors authorized a new $1.5 billion share repurchase plan, replacing the prior plan authorized on October 28, 2021 which had a remaining authorization of $81.8 million. This new plan authorizes the Company to purchase, from time to time, up to $1.5 billion of its 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. Shares repurchased will be retired. The new 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. As of the date of this filing, the Company had $1.45 billion 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,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Total number of shares purchased (in millions) (1) |  |  | 0.6 |  |  | 0.4 |  |  | 0.6 |  |  | 0.9
Average price per share (1) |  | $ | 211.63 |  | $ | 213.30 |  | $ | 211.63 |  | $ | 213.85
Total purchase price (in millions) (1) |  | $ | 130.7 |  | $ | 93.9 |  | $ | 130.7 |  | $ | 200.0
Subsequent to June 30, 2025, the Company made the following share repurchases:
Total number of shares purchased (in millions) (1) |  |  |  |  |  |  |  |  |  |  |  | 0.18
Average price per share (1) |  |  |  |  |  |  |  |  |  |  | $ | 227.92
Total purchase price (in millions) (1) |  |  |  |  |  |  |  |  |  |  | $ | 41.4
(1)Amounts reflected are based on the trade date and may 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, 2025, 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 23, 2025 |  | March 13, 2025 |  | $1.11 |  | $122.3 million (1) |  | March 27, 2025
April 27, 2025 |  | May 22, 2025 |  | $1.11 |  | $119.4 million |  | June 17, 2025
(1)Amount reflected includes the payment of $2.4 million in dividend equivalents. Dividends paid in 2025 were ordinary taxable dividends. Subsequent to June 30, 2025, 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
August 3, 2025 |  | August 21, 2025 |  | $1.11 |  | September 18, 2025

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