XML 33 R21.htm IDEA: XBRL DOCUMENT v3.25.2
REPURCHASES OF COMMON STOCK
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
REPURCHASES OF COMMON STOCK REPURCHASES OF COMMON STOCK
We primarily acquire shares of our common stock by repurchases in the open market. We also acquire shares that are surrendered by employees in payment for the statutory withholding taxes due on the vesting of restricted stock units and the settlement of deferred stock units, otherwise referred to herein as employee surrenders. We issue shares of treasury stock upon the vesting of certain restricted stock units and upon the exercise of certain stock options. The Inflation Reduction Act of 2022 imposed a nondeductible 1% excise tax on the net value of certain stock repurchases, which is included in the cost of treasury stock acquired in open market repurchases. The number of shares of treasury stock issued during the three and six months ended June 30, 2025, and 2024, was not material.

The following table is a summary of our open market common stock repurchases, reported on a trade date basis, and shares acquired through employee surrenders:
(in thousands, except per share amounts)
For the Three Months Ended
June 30,		For the Six Months Ended
June 30,
2025202420252024
  
Shares repurchased in the open market713 415 1,644 718 
Shares acquired through employee surrenders for statutory tax withholding2 — 16 18 
Total shares repurchased715 415 1,660 736 
Cost of shares repurchased in the open market$327,530 $208,169 $736,745 $375,271 
Cost of shares for employee surrenders970 79 7,094 10,268 
Total cost of shares$328,500 $208,248 $743,839 $385,539 
Average cost per share - open market repurchases$458.96 $501.44 $448.02 $522.32 
Average cost per share - employee surrenders$513.46 $496.95 $452.84 $560.01 
Average cost per share - total$459.10 $501.44 $448.07 $523.26