Shareholders' Equity

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Share repurchase programs

Repurchases of our common stock may be made from time to time on the open market (including through 10b5-1 plans) or through privately negotiated transactions. In the three months ended March 31, 2024, we repurchased 4.7 million shares for $93.3 million, which included commissions. In 2023, we repurchased approximately 21.7 million shares of our common stock for $340.6 million, which included commissions. At March 31, 2024, we had $170 million remaining under a $500 million share repurchase program approved by our Board of Directors in 2023 that expires on July 1, 2025. Through April, we repurchased an additional 2.7 million shares totaling $54.8 million under the remaining authorization. In April 2024, our Board of Directors approved an additional share repurchase program, authorizing us to purchase up to $750 million of common stock prior to December 31, 2026.

Cash dividends

In the first quarter of 2024, we paid quarterly cash dividends of $0.115 per share which totaled $31.7 million. On April 25, 2024, the Board of Directors declared a quarterly cash dividend to the holders of the company’s common stock of $0.115 per share payable on May 21, 2024, to shareholders of record on May 9, 2024.