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Equity (Tables)

9 Months Ended

Sep. 30, 2025

Stockholders' Equity Note [Abstract]

The Company’s share repurchase activity is presented in the table below for the periods indicated.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Number of shares repurchased (1)	3,955,033		136,319		4,915,661		1,404,628
Cash paid for repurchased shares (in thousands) (2)	$	1,055,523	$	68,660	$	1,492,678	$	633,377

(1)The average purchase price for repurchased shares was $265.38 and $466.99 for the three months ended September 30, 2025 and 2024, respectively, and $300.69 and $450.92 for the nine months ended September 30, 2025 and 2024, respectively. The repurchased shares during the three and nine months ended September 30, 2025 and 2024 included purchases for both open market purchases and stock-based compensation award settlements.

(2)The cash paid for repurchased shares during the three and nine months ended September 30, 2025 excluded $0.1 million of open market purchases with trade dates in September 2025 that settled in October 2025 and excise tax accrued. The cash paid for repurchased shares during the nine months ended September 30, 2025 included $10.0 million of open market purchases with trade dates in December 2024 that settled in January 2025. The cash paid for repurchased shares during the three months ended September 30, 2025 included $6.0 million of open market purchases with trade dates in June 2025 that settled in July 2025. The cash paid for repurchased shares during the three months ended September 30, 2024 included $5.0 million of open market purchases with trade dates in June 2024 that settled in July 2024.

Schedule Of The Changes In Accumulated Other Comprehensive Loss By Component (Net Of Tax)

The tables below provide information about the changes in AOCL by component and the related amounts reclassified out of AOCL to income during the periods indicated (net of tax, in thousands) (1).

Three Months Ended September 30, 2025


	Interest Rate Swaps		Defined Benefit Pension Plans		Foreign Currency Translation Adjustments		Total
Balance – June 30, 2025	$	(3,016)	$	(5,115)	$	(38,484)	$	(46,615)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income	—		—		7,303		7,303
Reclassifications from AOCL to income (2), (3)	3,016		51		—		3,067
Other comprehensive income (loss), net	3,016		51		7,303		10,370
Balance – September 30, 2025	$	—	$	(5,064)	$	(31,181)	$	(36,245)

Three Months Ended September 30, 2024


	Interest Rate Swaps		Defined Benefit Pension Plans		Foreign Currency Translation Adjustments		Total
Balance – June 30, 2024	$	(16,912)	$	(5,629)	$	(59,112)	$	(81,653)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income	—		—		22,398		22,398
Reclassifications from AOCL to income (2), (3)	3,571		51		—		3,622
Other comprehensive income (loss), net	3,571		51		22,398		26,020
Balance – September 30, 2024	$	(13,341)	$	(5,578)	$	(36,714)	$	(55,633)


Nine Months Ended September 30, 2025
	Interest Rate Swaps		Defined Benefit Pension Plans		Foreign Currency Translation Adjustments		Total
Balance – December 31, 2024	$	(9,800)	$	(5,214)	$	(73,319)	$	(88,333)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income	—		—		42,138		42,138
Reclassifications from AOCL to income (2), (3)	9,800		150		—		9,950
Other comprehensive income (loss), net	9,800		150		42,138		52,088
Balance – September 30, 2025	$	—	$	(5,064)	$	(31,181)	$	(36,245)


Nine Months Ended September 30, 2024
	Interest Rate Swaps		Defined Benefit Pension Plans		Foreign Currency Translation Adjustments		Total
Balance – December 31, 2023	$	(24,162)	$	(5,731)	$	(46,438)	$	(76,331)
Other comprehensive income (loss) activity during the period:
Change in AOCL before reclassifications to income	—		—		9,724		9,724
Reclassifications from AOCL to income (2), (3)	10,821		153		—		10,974
Other comprehensive income (loss), net	10,821		153		9,724		20,698
Balance – September 30, 2024	$	(13,341)	$	(5,578)	$	(36,714)	$	(55,633)

(1)Amounts in parentheses represent debits (deferred losses).

(2)$4.3 million and $4.8 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the three months ended September 30, 2025 and 2024, respectively. $13.2 million and $14.4 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the nine months ended September 30, 2025 and 2024, respectively. See Note 7 — Debt and Note 10 — Derivatives and Hedging for information regarding the cash flow hedges.

(3)The reclassifications related to defined benefit pension plans were recorded in Other (expense) income, net.