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Equity (Tables) | 3 Months Ended
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Mar. 31, 2023
Stockholders' Equity Note [Abstract] |
Schedule of share repurchase activity | The Company’s share repurchase activity is presented in the table below for the periods indicated.
|  | Three Months Ended |  |
|  | March 31, |  |
|  | 2023 |  | 2022 |  |  |  |
Number of shares repurchased (1) |  | 327,680 |  |  | 1,627,709 |  |  |  |  |
Cash paid for repurchased shares (in thousands) (2) |  | $ | 106,850 |  |  | $ | 451,070 |  |  |  |  |
(1)The average purchase price for repurchased shares was $332.18 and $284.53 for the three months ended March 31, 2023 and 2022, respectively. The repurchased shares during the three months ended March 31, 2023 and 2022 included purchases for both open market purchases and stock-based compensation award settlements. (2)The cash paid for repurchased shares during the three months ended March 31, 2023 excluded $2.0 million of open market purchases with trade dates in March 2023 that settled in April 2023. The cash paid for repurchased shares during the three months ended March 31, 2022 excluded $12.1 million of open market purchases with trade dates in March 2022 that settled in April 2022.
Schedule of the changes in Accumulated Other Comprehensive Loss by component (net of tax) | The tables below provide information about the changes in AOCL by component and the related amounts reclassified out of AOCL to income during the periods indicated (net of tax, in thousands) (1). Three Months Ended March 31, 2023
|  | Interest Rate Swaps |  | Defined Benefit Pension Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance - Balance at December 31, 2022 |  | $ | (39,248) |  |  | $ | (4,247) |  |  | $ | (58,115) |  |  | $ | (101,610) |
Other comprehensive income (loss) activity during the period: |  |  |  |  |  |  |  |
Change in AOCL before reclassifications to income |  | — |  |  | — |  |  | 1,832 |  |  | 1,832 |
Reclassifications from AOCL to income (2), (3) |  | 3,834 |  |  | 34 |  |  | — |  |  | 3,868 |
Other comprehensive income (loss), net |  | 3,834 |  |  | 34 |  |  | 1,832 |  |  | 5,700 |
Balance – March 31, 2023 |  | $ | (35,414) |  |  | $ | (4,213) |  |  | $ | (56,283) |  |  | $ | (95,910) |
Three Months Ended March 31, 2022
|  | Interest Rate Swaps |  | Defined Benefit Pension Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance – December 31, 2021 |  | $ | (56,323) |  |  | $ | (6,672) |  |  | $ | (18,436) |  |  | $ | (81,431) |
Other comprehensive income (loss) activity during the period: |  |  |  |  |  |  |  |
Change in AOCL before reclassifications to income |  | — |  |  | — |  |  | (6,798) |  |  | (6,798) |
Reclassifications from AOCL to income (2), (3) |  | 5,370 |  |  | 48 |  |  | — |  |  | 5,418 |
Other comprehensive income (loss), net |  | 5,370 |  |  | 48 |  |  | (6,798) |  |  | (1,380) |
Balance – March 31, 2022 |  | $ | (50,953) |  |  | $ | (6,624) |  |  | $ | (25,234) |  |  | $ | (82,811) |
(1)Amounts in parentheses represent debits (deferred losses). (2)$5.1 million and $7.2 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, 2023 and 2022, respectively. See Note 8 — Debt and Note 11 — Derivatives and Hedging for information regarding the cash flow hedges. (3)The reclassifications related to defined benefit pension plans were recorded in Other (expense) income, net.

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