Capital Stock

3 Months Ended

Mar. 31, 2025

Capital Stock [Abstract]

Capital Stock

7. Capital Stock

Net income per share

Net income per share is computed based on the weighted-average number of common shares outstanding during the periods presented. Additionally, diluted earnings per share data gives effect to all potentially dilutive common shares that were outstanding during the periods presented. For the three-month periods ended March 31, 2025 and 2024, the only dilutive common shares outstanding relate to the Company’s outstanding stock awards and options. For the three-month periods ended March 31, 2025 and 2024, 2.4 million and 1.8 million, respectively, of stock awards and options were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Dividends

In February 2025, the Company’s board of directors declared a quarterly cash dividend of $0.06 per share. This quarterly cash dividend of $3.0 million was paid on March 5, 2025 to stockholders of record on February 24, 2025. In May 2025, the board of directors declared a quarterly cash dividend of $0.06 per share to be paid on June 11, 2025 to stockholders of record on May 30, 2025.

Repurchase of common stock

During the three-month period ended March 31, 2025, the Company repurchased 0.6 million share of its Class A common stock under its stock repurchase plans for $5.0 million and repurchased no shares during the three-month period ended March 31, 2024. As of March 31, 2025, $157.4 million was available for repurchases under the Company’s stock repurchase plan.