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SUBSEQUENT EVENT
6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENT SUBSEQUENT EVENTS
On July 26, 2023, the Company announced that its Board of Directors authorized and declared a quarterly cash dividend of $0.05 per share. The Company intends to pay dividends on a quarterly basis, and this dividend represents $0.20 per share on an annualized basis.
The Board of Directors also authorized additional share repurchase of up to $400 million. Together with the existing program, the Company’s total share repurchase authorization was increased to $800 million, of which $200 million has been completed to date. The remaining authorization to repurchase up to $600 million represents more than 7% of the Company’s outstanding shares as of July 26, 2023.