Common Stock

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Common Stock

Common Stock

The Company has a share repurchases program authorized by the Board of Directors. During the first three months of 2024, the Company repurchased 1.5 million shares of its common stock for $300 million.

At March 31, 2024, the Company remained authorized to repurchase up to approximately $2.9 billion in shares of its common stock. There is no time limit on the authorization. During the first three months of 2023, the Company repurchased 1.8 million shares of its common stock for $300 million.

The Company issued approximately 2.3 million and 1.8 million shares related to stock compensation and employee stock purchase plans during the first three months of 2024 and 2023, respectively.

In March 2024, the Board of Directors of the Company declared a quarterly dividend of $0.71 per share on outstanding common stock, payable in May 2024. In February 2024, the Company paid the quarterly dividend declared in January 2024 by the Company's Board of Directors of $0.71 per share on outstanding common stock.