Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Equity

Note 8. Equity

The following table summarizes dividends paid and stock repurchases under the Company's stock repurchase program (in millions, except per share amounts):

	Three Months Ended March 31,
	2023		2022
Dividends:
Per share	$	0.22	$	0.21
Amount	$	70.6	$	67.5
Repurchased under the 2018 Stock Repurchase Program:
Shares	4.5		3.2
Average price per share	$	31.20	$	34.55
Amount	$	140.0	$	112.2

Cash Dividends on Shares of Common Stock

During the three months ended March 31, 2023, the Company declared and paid a quarterly cash dividend of $0.22 per common share, totaling $70.6 million, on its outstanding common stock. Any future dividends, and the establishment of record and payment dates, are subject to approval by the Board of Directors of Juniper or an authorized committee thereof. See Note 14, Subsequent Events, for discussion of the Company's dividend declaration subsequent to March 31, 2023.

Stock Repurchase Activities

During the three months ended March 31, 2023, the Company repurchased 4.5 million shares of its common stock in the open market at an average price of $31.20 per share for an aggregate purchase price of $140.0 million under the 2018 Stock Repurchase Program.

As of March 31, 2023, there was approximately $0.5 billion of authorized funds remaining under the 2018 Stock Repurchase Program.

Future share repurchases under the 2018 Stock Repurchase Program will be subject to a review of the circumstances at that time and will be made from time to time in private transactions or open market purchases as permitted by securities laws and other legal requirements.

In addition to repurchases under the 2018 Stock Repurchase Program, the Company also withholds shares of common stock from certain employees in connection with the vesting of stock awards issued to such employees to satisfy applicable tax withholding requirements. Such withheld shares are treated as common stock repurchases in the Company's financial statements as they reduce the number of shares that would have been issued upon vesting. Repurchases associated with tax withholdings were $11.4 million and $14.1 million during the three months ended March 31, 2023 and March 31, 2022, respectively.

Accumulated Other Comprehensive Income, Net of Tax

The components of accumulated other comprehensive income, net of related taxes, for the three months ended March 31, 2023 were as follows (in millions):

	Unrealized Gains/Losses on Available-for- Sale Debt Securities		Unrealized  Gains/Losses on Cash Flow Hedges		Foreign Currency Translation Adjustments		Total
Balance as of December 31, 2022	$	21.8	$	61.5	$	(79.1)	$	4.2
Other comprehensive income (loss) before reclassifications	2.1		(6.9)		1.5		(3.3)
Amount reclassified from accumulated other comprehensive income	—		7.4		—		7.4
Other comprehensive income, net	2.1		0.5		1.5		4.1
Balance as of March 31, 2023	$	23.9	$	62.0	$	(77.6)	$	8.3