Stock Repurchases

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Stock Repurchases

6. Stock Repurchases:

Our Board of Directors have authorized a total of $4 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. The Share Repurchase Plans do not require the repurchase of a specific number of shares and may be terminated at any time. As of December 31, 2024, $492 million of shares are available for repurchase under the Share Repurchase Plans.

We repurchased 0.1 million shares at an aggregate cost, inclusive of fees, of $54.2 million in 2024 and 1.3 million shares for $300.0 million in 2022. No shares were repurchased in 2023. The shares repurchased are held as treasury shares.