SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

SHAREHOLDERS’ EQUITY

SHAREHOLDERS’ EQUITY

We repurchase our common stock mainly through open market repurchase plans and, at times, through accelerated share repurchase ("ASR") programs. During the three months ended June 30, 2022 and 2021, we repurchased and retired 4,523,563 and 1,501,549 shares of our common stock at a cost, including commissions, of $600.3 million and $290.0 million, or $132.64 and $193.12 per share, respectively. During the six months ended June 30, 2022 and 2021, we repurchased and retired 9,039,189 and 5,456,949 shares of our common stock at a cost, including commissions, of $1,250.0 million and $1,072.9 million, or $138.29 and $196.65 per share, respectively. The activity for the six months ended June 30, 2021 included the repurchase of 2,491,161 shares at an average price of $200.71 per share under an ASR agreement we entered into on February 10, 2021 with a financial institution to repurchase an aggregate of $500 million of our common stock during the ASR program purchase period, which ended on March 31, 2021.

As of June 30, 2022, the remaining amount available under our share repurchase program was $1,107.0 million. On July 28, 2022, our board of directors approved an increase to our existing share repurchase program authorization, which raised the total available authorization to $1.5 billion.

On July 28, 2022, our board of directors declared a dividend of $0.25 per share payable on September 30, 2022 to common shareholders of record as of September 16, 2022.