Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of quarterly cash dividends declared

The Company declared quarterly cash dividends on its Class A and Class B common stock as summarized below:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in millions, except per share data)
Dividends declared per share	$	0.66	$	0.57	$	1.32	$	1.14
Total dividends declared	$	611	$	538	$	1,226	$	1,079

Schedule of Changes in Common Stock Outstanding

The following table presents the changes in the Company’s outstanding Class A and Class B common stock:


	Three Months Ended June 30,
	2024		2023
	Outstanding Shares		Outstanding Shares
	Class A	Class B	Class A	Class B
	(in millions)
Balance at beginning of period	924.2	7.1	941.4	7.5
Purchases of treasury stock	(5.8)	—	(6.5)	—
Share-based payments	0.1	—	0.9	—
Conversion of Class B to Class A common stock	—	—	0.1	(0.1)
Balance at end of period	918.5	7.1	935.9	7.4


	Six Months Ended June 30,
	2024		2023
	Outstanding Shares		Outstanding Shares
	Class A	Class B	Class A	Class B
	(in millions)
Balance at beginning of period	927.3	7.2	948.4	7.6
Purchases of treasury stock	(10.2)	—	(14.4)	—
Share-based payments	1.3	—	1.7	—
Conversion of Class B to Class A common stock	0.1	(0.1)	0.2	(0.2)
Balance at end of period	918.5	7.1	935.9	7.4

Schedule of share repurchases and authorizations

The following table summarizes the Company’s share repurchases of its Class A common stock:


	Six Months Ended June 30,
	2024		2023
	(in millions, except per share data)
Dollar-value of shares repurchased 1	$	4,631	$	5,294
Shares repurchased	10.2		14.4
Average price paid per share	$	454.92	$	367.00

1The dollar-value of shares repurchased does not include a 1% excise tax. The incremental tax is recorded in treasury stock on the consolidated balance sheet.