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Shareholders' equity | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
Stock-based compensation | Shareholders' equity Stock-based compensation During the six months ended June 30, 2025, the Company granted 729 stock-settled restricted and performance stock units with an aggregate grant-date fair value of $105,765 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 June 30, 2025, the Company had $178,947 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 and six months ended June 30, 2025.
| Three months ended June 30, |  | Six months ended June 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |  |
Open market repurchases: |  |  |  |  |  |  |  |  |  |  |  |  |
Shares repurchased | 1,921 |  |  | 2,655 |  |  | 5,378 |  |  | 4,774 |  |  |  |  |  |  |
Amount paid(1) | $ | 275,761 |  |  | $ | 375,831 |  |  | $ | 793,982 |  |  | $ | 615,948 |  |  |  |  |  |  |
Average price paid per share(2) | $ | 142.15 |  |  | $ | 140.14 |  |  | $ | 146.25 |  |  | $ | 127.98 |  |  |  |  |  |  |
Berkshire repurchases: |  |  |  |  |  |  |  |  |  |  |  |  |
Shares repurchased | 1,146 |  |  | — |  |  | 1,349 |  |  | — |  |  |  |  |  |  |
Amount paid(1) | $ | 170,263 |  |  | $ | — |  |  | $ | 202,264 |  |  | $ | — |  |  |  |  |  |  |
Average price paid per share(2) | $ | 147.11 |  |  | $ | — |  |  | $ | 148.45 |  |  | $ | — |  |  |  |  |  |  |
Total repurchases: |  |  |  |  |  |  |  |  |  |  |  |  |
Shares repurchased | 3,067 |  |  | 2,655 |  |  | 6,727 |  |  | 4,774 |  |  |  |  |  |  |
Amount paid(1) | $ | 446,024 |  |  | $ | 375,831 |  |  | $ | 996,246 |  |  | $ | 615,948 |  |  |  |  |  |  |
Average price paid per share(2) | $ | 144.00 |  |  | $ | 140.14 |  |  | $ | 146.69 |  |  | $ | 127.98 |  |  |  |  |  |  |
(1)Includes commissions and excise tax. 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 excise tax. Subsequent to June 30, 2025 through August 1, 2025, the Company repurchased 2,749 shares of its common stock for $393,461 at an average price paid of $141.68 per share, inclusive of the shares repurchased from Berkshire Hathaway Inc. as discussed below. As of June 30, 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 August 1, 2025, the Company has a total of $557,971, 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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