Note 16 - Share Repurchase Programs

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Treasury Stock [Text Block]

16. Share Repurchase Programs

Effective April 1, 2022, our Board of Directors authorized the repurchase of up to 100 million shares of our common stock by March 31, 2025. As of  September 30, 2024, we repurchased a total of 23.1 million shares of our common stock under the 2022 authorization. These repurchases may be made on the open market or through other transactions. Our management has sole discretion with respect to determining the timing and amount of these transactions.

The table below represents shares repurchased under repurchase programs in the nine months ended September 30, 2024 and 2023:

	Number of Shares Purchased				Average Price Paid
	2024		2023		2024		2023
First quarter		-		2,908,703	$	-	$	203.19
Second quarter		492,320		606,581		225.96		199.81
Third quarter		3,006,061		-		245.44		-
Total		3,498,381		3,515,284	$	242.70	$	202.61
Remaining number of shares that may be repurchased under current authority								76,893,646

Management's assessments of market conditions and other pertinent factors guide the timing, manner, and volume of all repurchases. We expect to fund any share repurchases under this program through cash generated from operations, the sale or lease of various operating and non-operating properties, debt issuances, and cash on hand. Open market repurchases are recorded in treasury stock at cost, which includes any applicable commissions, fees, and excise taxes.