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Consolidated Statement of Changes in Equity (Parenthetical) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash dividends declared (USD per share) $ 4.58 $ 4.27 $ 3.99
Retained Earnings      
Acquisition and surrender of common shares [1] $ 36.6 $ 170.5 $ 15.8
[1] For accounting purposes, the Company treats repurchased shares as constructively retired when acquired and accordingly charges the purchase price against Common Stock par value, Additional paid-in capital, to the extent available, and Retained earnings. The change in Retained earnings of $36.6 million, $170.5 million and $15.8 million in 2023, 2022 and 2021, respectively, reflects this accounting treatment.