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EQUITY AND REDEEMABLE NON-CONTROLLING INTEREST
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
EQUITY AND REDEEMABLE NON-CONTROLLING INTEREST EQUITY AND REDEEMABLE NON-CONTROLLING INTEREST
Repurchases of Common Stock
Repurchases of our common stock occurred under a repurchase authorization granted by our Board and related to shares withheld as part of the vesting of RSUs.

On June 4, 2024, our Board approved an additional $350 million repurchase authorization of our common stock. This authorization is in addition to the amount previously authorized by the Board for repurchase. Share repurchases under our authorization were as follows:
 Repurchases Occurring in 2024Cumulative Repurchases as of September 30, 2024
 Shares
Average Price1
SharesAverage Price
Share Repurchase Authorization986,032 $259.76 8,033,542 $185.36 
1Price excludes excise taxes imposed under the Inflation Reduction Act of $2.0 million for the nine months ended September 30, 2024.

As of September 30, 2024, we had $560.9 million available for repurchases pursuant to our share repurchase authorizations from our Board in 2024 and prior years.

In addition, during 2024, we repurchased 45,903 shares at an average price of $328.62 per share, for a total of $15.1 million, related to tax withholding associated with the vesting of RSUs. The repurchase of shares related to tax withholding associated with stock awards does not reduce the number of shares available for repurchase as approved by our Board.

Redeemable Non-Controlling Interest
In 2021, we expanded into Canada through a partnership with Toronto-based Pfaff Automotive Partners. As part of the partnership, we were granted the right to purchase (Call Option), and granted Pfaff Automotive a right to sell (Put Option), the remaining ownership interest in the partnership after a three-year period. As a result of this redemption feature, we recorded redeemable NCI that is classified as mezzanine equity in the accompanying Consolidated Balance Sheets.

In August 2024, we completed the acquisition of the remaining 10.1% interest in our redeemable non-controlling interest (NCI), resulting in us now owning 100% of our operations in Canada. Prior to this transaction, the acquired entities were fully consolidated in our financial statements due to our majority ownership; however, this acquisition eliminates the redeemable NCI. The transaction was executed for total consideration of $58.8 million, which included an additional premium of $11.6 million recognized as a component of “Net income attributable to redeemable non-controlling interest” in our Consolidated Statements of Operations.