STOCKHOLDERS' EQUITY |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Stockholders' Equity Note [Abstract] | |
| STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY Prior Stock Repurchase Program In February 2025, the Board of Directors approved the Prior Stock Repurchase Program that authorizes the repurchase of up to $500 million of CoStar Group Shares. During the three months ended March 31, 2025, the Company repurchased 0.2 million CoStar Group Shares for an aggregate cost of $19 million. Subsequently, the Company completed the Prior Stock Repurchase Program, including the use of an accelerated share repurchase agreement entered into in November 2025. In total, the Company repurchased 7.1 million shares for an aggregate cost of $500 million during 2025. The aggregate purchase price of CoStar Group Shares is recorded as treasury stock and presented as a reduction to stockholders' equity. New Stock Repurchase Program In December 2025, the Board of Directors approved a Stock Repurchase Program which authorizes, but does not obligate, the repurchase of up to $1.5 billion of CoStar Group Shares. Stock repurchases may be effected through open market repurchases in compliance with Rule 10b-18 under the Exchange Act or through a trading plan adopted in accordance with Rule 10b5-1 of the Exchange Act. Repurchases may be made from time to time at management's discretion, and the timing and amount of any such repurchases will be determined based on share price, market conditions, legal requirements, and other relevant factors. The program has no time limit and can be discontinued at any time at the Company’s discretion. On February 27, 2026, the Company entered into the 2026 ASR Agreement with a financial institution counterparty to repurchase $500 million of its outstanding common stock. The Company repurchased 11.2 million CoStar Group Shares during the term of the 2026 ASR Agreement based on the volume-weighted average price, net of discount, of $44.27 per share over the duration of the program, which was completed in March 2026. During the three months ended March 31, 2026, the Company also repurchased $5 million of CoStar Group Shares pursuant to a 10b5-1 Plan, resulting in total repurchases of 11.4 million CoStar Group Shares for an aggregate cost of $505 million under the Stock Repurchase Program, including pursuant to the 2026 ASR Agreement. As of March 31, 2026, $995 million remains available for repurchases under the Stock Repurchase Program. Shares of common stock repurchased under the Stock Repurchase Program become treasury stock and are recorded as a reduction to stockholders' equity when the transaction is settled. Direct costs incurred to acquire the shares are included in the total cost of the shares. Preferred Stock The Company has 2.0 million shares of preferred stock, $0.01 par value, authorized for issuance. The Board of Directors may issue the preferred stock from time to time as shares of one or more classes or series. Common Stock The Company has 1.2 billion CoStar Group Shares authorized for issuance. Dividends may be declared and paid on the common stock, subject in all cases to the rights and preferences of the holders of preferred stock and authorization by the Board of Directors. In the event of liquidation or winding up of the Company and after the payment of all preferential amounts required to be paid to the holders of any series of preferred stock, any remaining funds shall be distributed among the holders of the issued and outstanding common stock.
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