Stock Repurchase Program

6 Months Ended

Jun. 30, 2023

Class of Stock Disclosures [Abstract]

Stock Repurchase Program

Stock Repurchase Program

Under our stock repurchase program, we repurchased shares as follows:

	Six Months Ended
(in thousands, except per share data)	June 30, 2023		June 30, 2022
Number of shares repurchased	650		500
Average price paid per share	$	302.34	$	311.14
Total cost	$	196,494	$	155,571

All of the shares repurchased during the six months ended June 30, 2023 were repurchased during the first quarter. As of June 30, 2023, 1.1 million shares remained available for repurchase under the program. Average price paid per share excludes excise tax. As of January 1, 2023, our share repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act. Any excise tax incurred is recognized and reflected as part of the cost basis of the shares acquired in the Condensed Consolidated Statements of Stockholders' Equity.