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Share Repurchase Authorizations | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
Share Repurchase Authorizations | Share Repurchase Authorizations Prior to July 31, 2023, the Board authorized the repurchase of up to $1.8 billion of our Class A common stock, Class C capital stock, outstanding convertible senior notes or a combination thereof. For additional information on these authorizations, see Note 13 in the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. On July 31, 2023, the Board authorized the repurchase of up to an additional $750 million of our Class A common stock, Class C capital stock, outstanding convertible senior notes or a combination thereof. This additional authorization (together with the previous authorizations, the “Repurchase Authorizations”) increased our total cumulative Repurchase Authorizations to $2.5 billion. Repurchases of stock under the Repurchase Authorizations may be made in open-market transactions or privately negotiated transactions, or in such other manner as deemed appropriate by management, and may be made from time to time as determined by management depending on market conditions, share price, trading volume, cash needs and other business factors, in each case as permitted by securities laws and other legal requirements. As of September 30, 2023, $914 million remained available for future repurchases pursuant to the Repurchase Authorizations. The following table summarizes our Class A common stock and Class C capital stock repurchase activity under the Repurchase Authorizations for the periods presented (in millions, except share data, which are presented in thousands, and per share amounts):
| Three Months Ended September 30, 2023 |  | Three Months Ended September 30, 2022
| Class A common stock |  | Class C capital stock |  | Class A common stock |  | Class C capital stock
Shares repurchased | 965 |  |  | 932 |  |  | 772 |  |  | 4,225 |
Weighted-average price per share | $ | 52.57 |  |  | $ | 52.80 |  |  | $ | 35.52 |  |  | $ | 35.18 |
Total purchase price | $ | 50 |  |  | $ | 50 |  |  | $ | 27 |  |  | $ | 149 |
| Nine Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2022
| Class A common stock |  | Class C capital stock |  | Class A common stock |  | Class C capital stock
Shares repurchased | 1,775 |  |  | 5,411 |  |  | 3,349 |  |  | 13,943 |
Weighted-average price per share | $ | 48.71 |  |  | $ | 46.15 |  |  | $ | 46.13 |  |  | $ | 44.40 |
Total purchase price | $ | 86 |  |  | $ | 250 |  |  | $ | 154 |  |  | $ | 619 |

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