Stockholders' Equity (Notes)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Stockholders Equity

8. Stockholders' Equity

During 2023, we repurchased or withheld an aggregate of 1,259,109 shares of our common stock, as described below.

Repurchase Program

Our Board of Directors (the “Board”) has authorized a program to repurchase shares of our outstanding common stock (“Repurchase Program”). The purchases may be made from time to time in the open market or directly from stockholders at prevailing market prices based on market conditions and other factors. During 2023, 1,062,598 shares were repurchased under the Repurchase Program. On August 1, 2023, we announced that our Board authorized an increase of 2,000,000 shares that may be repurchased under the Repurchase Program. As of December 31, 2023, we were authorized to repurchase an additional 1,969,562 shares under the Repurchase Program.

The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposes a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During 2023, we recorded the applicable excise tax in treasury stock as part of the cost basis of stock repurchased and recorded a corresponding

liability for the excise tax payable in other accrued liabilities in our Consolidated Balance Sheets.

Withheld Shares

During 2023, we withheld 196,511 shares to satisfy tax withholding obligations for the vesting of long-term incentive and restricted stock unit awards.

Dividends

The Board declared and paid quarterly dividends as follows:

(amounts per share)	2023		2022
First quarter	$	0.52	$	0.45
Second quarter	0.57		0.52
Third quarter	0.57		0.52
Fourth quarter	0.57		0.52

During 2023 and 2022, we declared and paid dividends totaling $84.2 million and $76.6 million, respectively.