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Equity | 3 Months Ended
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Mar. 31, 2021
Stockholders' Equity Note [Abstract] |
Equity | Equity Share Repurchase Authorization In 2015, the Company’s Board of Directors (the “Board”) authorized a share repurchase program to repurchase up to $1.2 billion of the Company’s common stock. On February 4, 2021, the Board authorized incremental share repurchases of up to an additional $300 million of the Company’s common stock. $0.5 billion remained available under the share repurchase program as of March 31, 2021. The Company may repurchase its common stock from time-to-time in amounts, at prices and in the manner that the Company deems appropriate, subject to the availability of stock, prevailing market conditions, the trading price of the stock, the Company’s financial performance and other conditions. Repurchases may be made through open market purchases (which may include repurchase plans designed to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended), accelerated share repurchases, private transactions or other transactions and will be funded by cash on hand and borrowings. Repurchases may also be made from time-to-time in connection with the settlement of the Company’s stock-based compensation awards. See Note 14 — Subsequent Event for a discussion regarding an increase in the Company’s share repurchase authorization. The Company’s share repurchase activity is presented in the table below for the periods indicated.
| Three Months Ended |  |
| March 31, |  |
| 2021 |  | 2020 |  |  |  |
Number of shares repurchased (1) | 2,274,710 |  |  | 417,707 |  |  |  |  |
Cash paid for repurchased shares (in thousands) (2) | $ | 398,450 |  |  | $ | 73,164 |  |  |  |  |
(1) The average purchase price for repurchased shares was $180.44 and $151.22 for the three months ended March 31, 2021 and 2020, respectively. The repurchased shares during the three months ended March 31, 2021 and 2020 included purchases for both stock-based compensation awards and open market purchases. (2) The cash paid for repurchased shares during the three months ended March 31, 2021 included $8.0 million of open market purchases with trade dates in December 2020 that settled in January 2021. There were $20.0 million of open market purchases with trade dates in March 2021 that settled in April 2021. The cash paid for repurchased shares during the three months ended March 31, 2020 included open market purchases with trade dates in December 2019 that settled in January 2020. Accumulated Other Comprehensive Income (Loss), net (“AOCI/L”) The tables below provide information about the changes in AOCI/L by component and the related amounts reclassified out of AOCI/L to income during the periods indicated (net of tax, in thousands) (1). Three Months Ended March 31, 2021
| Interest Rate Swaps |  | Defined Benefit Pension Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance – December 31, 2020 | $ | (78,104) |  |  | $ | (9,309) |  |  | $ | (11,815) |  |  | $ | (99,228) |
Other comprehensive income (loss) activity during the period: |  |  |  |  |  |  |
Change in AOCI/L before reclassifications to income | — |  |  | — |  |  | 677 |  |  | 677 |
Reclassifications from AOCI/L to income (2), (3) | 5,270 |  |  | 103 |  |  | — |  |  | 5,373 |
Other comprehensive income (loss) for the period | 5,270 |  |  | 103 |  |  | 677 |  |  | 6,050 |
Balance – March 31, 2021 | $ | (72,834) |  |  | $ | (9,206) |  |  | $ | (11,138) |  |  | $ | (93,178) |
Three Months Ended March 31, 2020
| Interest Rate Swaps |  | Defined Benefit Pension Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance – December 31, 2019 | $ | (47,164) |  |  | $ | (8,584) |  |  | $ | (22,190) |  |  | $ | (77,938) |
Other comprehensive income (loss) activity during the period: |  |  |  |  |  |  |
Change in AOCI/L before reclassifications to income | (47,054) |  |  | — |  |  | (46,381) |  |  | (93,435) |
Reclassifications from AOCI/L to income (2), (3) | 2,322 |  |  | 79 |  |  | — |  |  | 2,401 |
Other comprehensive income (loss) for the period | (44,732) |  |  | 79 |  |  | (46,381) |  |  | (91,034) |
Balance – March 31, 2020 | $ | (91,896) |  |  | $ | (8,505) |  |  | $ | (68,571) |  |  | $ | (168,972) |
(1)Amounts in parentheses represent debits (deferred losses). (2)$7.0 million and $3.2 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the three months ended March 31, 2021 and 2020, respectively. See Note 7 — Debt and Note 10 — Derivatives and Hedging for information regarding the cash flow hedges. (3)The reclassifications related to defined benefit pension plans were recorded in Other income (expense), net. The estimated net amount of the existing losses on the Company’s interest rate swaps that are reported in Accumulated other comprehensive loss, net at March 31, 2021 that is expected to be reclassified into earnings within the next 12 months is $29.2 million.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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