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Common Stock Repurchase Programs
3 Months Ended
Mar. 31, 2024
Disclosure Common Stock Repurchase Program Additional Information [Abstract]  
Common Stock Repurchase Programs Common Stock Repurchase Programs
In May 2021, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock (“May 2021 Repurchase Program”), which was completed in March 2023. In January 2023, our Board of Directors authorized a new plan to repurchase up to $1.0 billion of our common stock (“January 2023 Repurchase Program”). The January 2023 Repurchase Program does not have an expiration date.
Accelerated Share Repurchase Agreements (“ASRs”)

During the three months ended March 31, 2023, we entered into or completed ASRs providing for the repurchase of our common stock based on the volume-weighted average price during the term of the agreement, less an agreed upon discount.

We did not enter into any new ASRs during the three months ended March 31, 2024; however, we did settle and obtain final delivery of shares for the ASR contract entered in the fourth quarter of 2023. The following table summarizes the information regarding repurchases of our common stock under the ASRs for the three months ended March 31, 2024 and 2023:


Agreement
 Date
Repurchase
 Program
Amount Paid
(in millions)
Completion
Date
Total Shares
Received
Average Price per Share
Q4 2022May 2021$200.0 Q1 2023984,714 $203.10 
Q1 2023May 2021$250.0 Q1 2023805,908 $310.21 
Q4 2023January 2023$250.0 Q1 20241,086,334 $230.13 

Open Market Common Stock Repurchases

During the three months ended March 31, 2024 and 2023 we did not repurchase any shares in the open market.

During the three months ended December 31, 2023, we repurchased $100.0 million of our common stock through open market repurchases under the January 2023 Repurchase Program.

As of March 31, 2024, $650.0 million remains available for repurchases under the January 2023 Repurchase Program.
Subsequent to the first quarter, on April 26, 2024, we announced a plan to repurchase $150.0 million of our common stock through open market repurchases under the January 2023 Repurchase Program.