Equity

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Stockholders' Equity Note Disclosure

Note 3 - Equity

Stock Repurchase Program

The Company’s current stock repurchase program authorizes the Company to repurchase up to $500.0 million in aggregate value of its common stock through December 31, 2024 (“Stock Repurchase Program”). The Stock Repurchase Program permits the Company to repurchase shares of its common stock from time to time in open market transactions, through privately negotiated transactions or by other means in accordance with federal securities laws and subject to certain provisions of the Credit Agreement and the indentures governing the Senior Notes, as defined in Note 5 - Long-Term Debt. Please refer to Note 3 - Equity in the 2023 Form 10-K for additional information regarding the Company’s Stock Repurchase Program.

The following table presents activity under the Company’s Stock Repurchase Program during the three months ended March 31, 2024, and 2023:

	For the Three Months Ended March 31,
	2024		2023
	(in thousands, except per share data)
Shares of common stock repurchased (1)	712		1,414
Weighted-average price per share (2)	$	45.99	$	28.32
Cost of shares of common stock repurchased (2) (3)	$	32,753	$	40,040

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(1)    All repurchased shares of the Company’s common stock were retired upon repurchase.

(2)    Amounts exclude excise taxes, commissions, and fees.

(3)    Amounts may not calculate due to rounding.

Since the inception of the Stock Repurchase Program in 2022, the Company has repurchased and subsequently retired approximately 9.0 million shares of the Company’s outstanding common stock at a cost of $317.9 million, excluding excise taxes, commissions, and fees. As of March 31, 2024, $182.1 million remained available for repurchases of the Company’s outstanding common stock through December 31, 2024, under the Stock Repurchase Program.