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Share Repurchase Program | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Share Repurchase Program | Share Repurchase Program On September 11, 2024, we announced that our Board of Directors authorized the repurchase of up to $300,000,000 of our common stock, in addition to any amount that remained from prior authorizations. As of September 30, 2025, approximately $148,883,000 remained available for repurchases under our share repurchase plan. Our share repurchases may be made on the open market, subject to Rule 10b-18 or in privately negotiated transactions, through block trades, through 10b5-1 plans or otherwise, at management’s discretion. The number of shares purchased and the timing of the purchases will be based on market conditions, working capital requirements, general business conditions and other factors. We intend to retire the repurchased shares. During the three months ended September 30, 2025, we repurchased 600,727 shares of our common stock on the open market at a total cost of approximately $75,000,000 (an average price of $124.85 per share). During the three months ended September 30, 2024, we repurchased 835,188 shares of our common stock on the open market at a total cost of approximately $165,020,000 (an average price of $197.58 per share). During the nine months ended September 30, 2025, we repurchased 1,200,727 shares of our common stock, of which 600,000 shares were purchased in a private transaction from ValueAct Capital, an affiliate at the time of the repurchase, at a total cost of approximately $76,118,000 (an average price of $126.86 per share, representing a negotiated 3.95% discount from the closing price of our common stock the day prior to the transaction) and the remainder was repurchased on the open market at a total a total cost of approximately $75,000,000 (an average price of $124.85 per share). During the nine months ended September 30, 2024, we repurchased 1,022,545 shares of our common stock on the open market at a total cost of approximately $200,020,000 (an average price of $195.61 per share). All shares repurchased during the nine months ended September 30, 2025 and 2024 were retired.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505-30/tableOfContent + Details
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