Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Repurchase of Equity Securities

On April 23, 2024, the Company’s Board of Directors (the “Board”) authorized a stock repurchase program under which the Company may purchase up to $2.0 billion of the Company’s Class A Common Stock (“Common Stock”) during the three-year period ending on the close of business on April 28, 2027 (the “2024 Stock Repurchase Program”). The 2024 Stock Repurchase Program became effective on April 29, 2024. During the three months ended March 31, 2026, the Company repurchased 1.3 million shares of its Common Stock for $178.0 million under the 2024 Stock Repurchase Program. All of the repurchased shares under the 2024 Stock Repurchase Program during the three months ended March 31, 2026 were retained in Treasury stock at the time of repurchase. From April 1, 2026 to April 28, 2026, the Company repurchased 0.3 million additional shares of its Common Stock for $44.2 million, and, as of April 29, 2026, the Company has remaining authorization to purchase up to $648.8 million of its Common Stock under the 2024 Stock Repurchase Program. The timing and amount of any future repurchases will depend on a number of factors, such as the levels of cash generation from operations, the volume of stock options exercised by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Common Stock.

The table below reflects the Company’s stock repurchases for the three months ended March 31, 2026:


							Total Number of		Maximum Dollar
(dollars in millions, except price per share)							Shares Purchased as		Value of Shares
		Total Number		Average			Part of Publicly		that May Yet be
		of Shares		Price Paid			Announced Plans or		Purchased Under the
Period		Purchased		per Share			Programs		Plans or Programs
January 1 to January 31, 2026		302,262		$	146.17		302,262		$	826.9
February 1 to February 28, 2026		450,472			143.43		450,472			762.3
March 1 to March 31, 2026		521,800			132.68		521,800		$	693.1
Total		1,274,534		$	139.68		1,274,534

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

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