XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.25.3

Equity | 9 Months Ended
--- | ---
Sep. 30, 2025
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. The Board authorized incremental share repurchases of up to an aggregate additional $5.8 billion of the Company’s common stock from February 2021 to September 2025, including $1.0 billion authorized in September 2025. As of September 30, 2025, $1.3 billion remained available under the share repurchase program. 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. The Company’s share repurchase activity is presented in the table below for the periods indicated.
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Number of shares repurchased (1) |  | 3,955,033 |  |  | 136,319 |  |  | 4,915,661 |  |  | 1,404,628 |
Cash paid for repurchased shares (in thousands) (2) |  | $ | 1,055,523 |  |  | $ | 68,660 |  |  | $ | 1,492,678 |  |  | $ | 633,377 |
(1)The average purchase price for repurchased shares was $265.38 and $466.99 for the three months ended September 30, 2025 and 2024, respectively, and $300.69 and $450.92 for the nine months ended September 30, 2025 and 2024, respectively. The repurchased shares during the three and nine months ended September 30, 2025 and 2024 included purchases for both open market purchases and stock-based compensation award settlements. (2)The cash paid for repurchased shares during the three and nine months ended September 30, 2025 excluded $0.1 million of open market purchases with trade dates in September 2025 that settled in October 2025 and excise tax accrued. The cash paid for repurchased shares during the nine months ended September 30, 2025 included $10.0 million of open market purchases with trade dates in December 2024 that settled in January 2025. The cash paid for repurchased shares during the three months ended September 30, 2025 included $6.0 million of open market purchases with trade dates in June 2025 that settled in July 2025. The cash paid for repurchased shares during the three months ended September 30, 2024 included $5.0 million of open market purchases with trade dates in June 2024 that settled in July 2024. Accumulated Other Comprehensive Loss, net (“AOCL”) 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 September 30, 2025
|  | Interest Rate Swaps |  | Defined Benefit Pension Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance – June 30, 2025 |  | $ | (3,016) |  |  | $ | (5,115) |  |  | $ | (38,484) |  |  | $ | (46,615) |
Other comprehensive income (loss) activity during the period: |  |  |  |  |  |  |  |
Change in AOCL before reclassifications to income |  | — |  |  | — |  |  | 7,303 |  |  | 7,303 |
Reclassifications from AOCL to income (2), (3) |  | 3,016 |  |  | 51 |  |  | — |  |  | 3,067 |
Other comprehensive income (loss), net |  | 3,016 |  |  | 51 |  |  | 7,303 |  |  | 10,370 |
Balance – September 30, 2025 |  | $ | — |  |  | $ | (5,064) |  |  | $ | (31,181) |  |  | $ | (36,245) |
Three Months Ended September 30, 2024
|  | Interest Rate Swaps |  | Defined Benefit Pension Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance – June 30, 2024 |  | $ | (16,912) |  |  | $ | (5,629) |  |  | $ | (59,112) |  |  | $ | (81,653) |
Other comprehensive income (loss) activity during the period: |  |  |  |  |  |  |  |
Change in AOCL before reclassifications to income |  | — |  |  | — |  |  | 22,398 |  |  | 22,398 |
Reclassifications from AOCL to income (2), (3) |  | 3,571 |  |  | 51 |  |  | — |  |  | 3,622 |
Other comprehensive income (loss), net |  | 3,571 |  |  | 51 |  |  | 22,398 |  |  | 26,020 |
Balance – September 30, 2024 |  | $ | (13,341) |  |  | $ | (5,578) |  |  | $ | (36,714) |  |  | $ | (55,633) |
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |
|  | Interest Rate Swaps |  | Defined Benefit Pension Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance – December 31, 2024 |  | $ | (9,800) |  |  | $ | (5,214) |  |  | $ | (73,319) |  |  | $ | (88,333) |
Other comprehensive income (loss) activity during the period: |  |  |  |  |  |  |  |
Change in AOCL before reclassifications to income |  | — |  |  | — |  |  | 42,138 |  |  | 42,138 |
Reclassifications from AOCL to income (2), (3) |  | 9,800 |  |  | 150 |  |  | — |  |  | 9,950 |
Other comprehensive income (loss), net |  | 9,800 |  |  | 150 |  |  | 42,138 |  |  | 52,088 |
Balance – September 30, 2025 |  | $ | — |  |  | $ | (5,064) |  |  | $ | (31,181) |  |  | $ | (36,245) |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |
|  | Interest Rate Swaps |  | Defined Benefit Pension Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance – December 31, 2023 |  | $ | (24,162) |  |  | $ | (5,731) |  |  | $ | (46,438) |  |  | $ | (76,331) |
Other comprehensive income (loss) activity during the period: |  |  |  |  |  |  |  |
Change in AOCL before reclassifications to income |  | — |  |  | — |  |  | 9,724 |  |  | 9,724 |
Reclassifications from AOCL to income (2), (3) |  | 10,821 |  |  | 153 |  |  | — |  |  | 10,974 |
Other comprehensive income (loss), net |  | 10,821 |  |  | 153 |  |  | 9,724 |  |  | 20,698 |
Balance – September 30, 2024 |  | $ | (13,341) |  |  | $ | (5,578) |  |  | $ | (36,714) |  |  | $ | (55,633) |
(1)Amounts in parentheses represent debits (deferred losses). (2)$4.3 million and $4.8 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the three months ended September 30, 2025 and 2024, respectively. $13.2 million and $14.4 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the nine months ended September 30, 2025 and 2024, 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 (expense) income, net.

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478448/946-505-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-6 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration