Share Repurchase Authorizations

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Share Repurchase Authorizations

Share Repurchase Authorizations

The Board has authorized the repurchase of up to $2.5 billion of our Class A common stock, Class C capital stock, outstanding Notes or a combination thereof. For additional information on these authorizations, see Note 13 in the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

Repurchases of stock under the Repurchase Authorizations may be made in open-market transactions or privately negotiated transactions, or in such other manner as deemed appropriate by management, and may be made from time to time as determined by management depending on market conditions, share price, trading volume, cash needs and other business factors, in each case as permitted by securities laws and other legal requirements. As of September 30, 2024, $381 million remained available for future repurchases pursuant to the Repurchase Authorizations.

There were no share repurchases during the three months ended September 30, 2024. The following tables summarize our Class A common stock and Class C capital stock repurchase activity under the Repurchase Authorizations for the periods presented (in millions, except share data, which are presented in thousands, and per share amounts):

	Three Months Ended September 30, 2023
	Class A common stock		Class C capital stock
Shares repurchased	965		932
Weighted-average price per share	$	52.57	$	52.80
Total purchase price	$	50	$	50

	Nine Months Ended September 30, 2024				Nine Months Ended September 30, 2023
	Class A common stock		Class C capital stock		Class A common stock		Class C capital stock
Shares repurchased	1,100		5,996		1,775		5,411
Weighted-average price per share	$	42.26	$	42.45	$	48.71	$	46.15
Total purchase price	$	46	$	255	$	86	$	250