Stock Repurchases

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Stock Repurchases

5. Stock Repurchases:

Our Board of Directors has authorized a total of $4.0 billion to repurchase shares of our common stock (collectively referred to as the "Share Repurchase Plans"), including a $1.0 billion share repurchase authorization in July 2021. The Share Repurchase Plans allow us to repurchase shares from time to time in open market transactions and in privately negotiated transactions based on business, market, applicable legal requirements and other considerations. Such repurchases may also be made in compliance with Rule 10b5-1 trading plans entered into by us, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of September 30, 2024, $532.5 million was available for repurchase under the Share Repurchase Plans.

For the three and nine months ended September 30, 2024, we repurchased 23,000 shares at an aggregate cost, inclusive of fees, of $13.5 million.