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Shareholders' equity | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
Stock-based compensation | Shareholders' equity Stock-based compensation During the three months ended March 31, 2025, the Company granted 723 stock-settled restricted and performance stock units with an aggregate grant-date fair value of $104,916 and a weighted average expected life of approximately 3.4 years. Additionally, the Company granted 96 stock-settled stock appreciation rights with an aggregate grant-date fair value of $4,960 and weighted-average expected life of approximately 4.75 years. As of March 31, 2025, the Company had $207,587 in total estimated but unrecognized stock-based compensation expense under the Company's equity compensation and employee stock purchase plans. The Company expects to recognize this expense over a weighted average remaining period of 1.3 years.
Share repurchases | Share repurchases The following table summarizes the Company's common stock repurchases during the three months ended March 31, 2025 and 2024:
| Three months ended March 31, 2025 |  | Three months ended March 31, 2024 |  |
| Shares repurchased |  | Amount paid(1) |  | Average price paid per share(2) |  | Shares repurchased |  | Amount paid(1) |  | Average price paid per share(2) |  |  |  |  |  |
Open market repurchases: | 3,457 |  |  | $ | 518,221 |  |  | $ | 148.53 |  |  | 2,119 |  |  | $ | 240,117 |  |  | $ | 112.76 |  |  |  |  |  |  |
Berkshire repurchases: | 203 |  |  | 32,001 |  |  | 156.01 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Total repurchases: | 3,660 |  |  | $ | 550,222 |  |  | $ | 148.94 |  |  | 2,119 |  |  | $ | 240,117 |  |  | $ | 112.76 |  |  |  |  |  |  |
(1)Includes commissions and the 1% excise tax imposed on certain share repurchases by the Inflation Reduction Act of 2022. The excise tax is recorded as part of the cost basis of treasury shares repurchased and, as such, is included in stockholders’ equity. (2)Excludes commissions and the excise tax described above. Subsequent to March 31, 2025 through May 12, 2025, the Company repurchased 1,730 shares of its common stock for $259,152 at an average price paid of $148.34 per share, inclusive of the shares repurchased from Berkshire Hathaway Inc. as discussed below. As of March 31, 2025, the Company is authorized to make share repurchases pursuant to a September 5, 2024 Board authorization of $2,000,000. This authorization allows the Company to make purchases from time to time in the open market or in privately negotiated transactions, including without limitation, through accelerated share repurchase transactions, derivative transactions, tender offers, Rule 10b5-1 plans or any combination of the foregoing, depending upon market conditions and other considerations. As of May 12, 2025, the Company has a total of $1,132,566, excluding excise taxes, available under the current authorization for additional share repurchases. Although this share repurchase authorization does not have an expiration date, the Company remains subject to share repurchase limitations, including under the terms of its senior secured credit facilities.

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