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Common Stock Repurchase Programs | 6 Months Ended
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Jun. 30, 2024
Equity [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 six months ended June 30, 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 or six months ended June 30, 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 and six months ended June 30, 2024 and 2023:
Agreement Date |  | Repurchase Program |  | Amount Paid (in millions) |  | Completion Date |  | Total Shares Received |  | Average Price per Share
Q4 2022 |  | May 2021 |  | $ | 200.0 |  |  | Q1 2023 |  | 984,714 |  |  | $ | 203.10 |
Q1 2023 |  | May 2021 |  | $ | 250.0 |  |  | Q1 2023 |  | 805,908 |  |  | $ | 310.21 |
Q4 2023 |  | January 2023 |  | $ | 250.0 |  |  | Q1 2024 |  | 1,086,334 |  |  | $ | 230.13 |
Open Market Common Stock Repurchases On June 3, 2024, we initiated a plan to repurchase $150.0 million of our common stock through open market repurchases under the January 2023 Repurchase Program. This plan was completed on June 26, 2024. In total, we repurchased approximately 0.6 million shares of our common stock at an average price of $250.73 per share, including commissions and fees. During the twelve months ended December 31, 2023, we repurchased $100.0 million of our common stock through open market repurchases under the January 2023 Repurchase Program, none of which occurred during the six months ended June 30, 2023. As of June 30, 2024, $500.0 million remains available for repurchases under the January 2023 Repurchase Program.

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