XML 33 R23.htm IDEA: XBRL DOCUMENT

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events Cross-Currency Swap Contracts On October 10, 2024, the Company entered into cross-currency swap contracts designated as net investment hedges used to hedge a portion of the Company’s net investment in its European operations. The notional amounts of these cross-currency swap contracts in U.S. dollar equivalents were to sell $328 million of USD for €300 million of Euro. The Company designated the cross-currency swap as a net investment hedge, where changes in the fair value of the effective portion of the swap are to be recorded to other comprehensive income. Share Repurchase Authorization On October 29, 2024, the Company's Board of Directors (the “Board”) approved a new share repurchase authorization which enables the company to repurchase up to $400 million of its Class A common stock through privately-negotiated purchases with individual holders or in the open market. This new authorization replaces the prior $200 million repurchase authorization. No repurchases have been made under the existing authorization. A committee of the Board will determine the timing, amount and terms of any repurchase.