Capital Stock

6 Months Ended

Jun. 30, 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 June 30, 2025 and 2024, stock awards and options of 1.8 million and 1.7 million, respectively, and for the six-month periods ended June 30, 2025 and 2024, stock awards and options of 1.8 million and 1.7 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Dividends

In February and May 2025, the Company’s board of directors declared quarterly cash dividends of $0.06 per share. These quarterly cash dividends of $3.0 million were paid on March 5, 2025 and June 11, 2025, respectively, to stockholders of record on February 24, 2025 and May 30, 2025, respectively. In August 2025, the Company’s board of directors declared a quarterly cash dividend of $0.06 per share to be paid on September 10, 2025 to stockholders of record on August 29, 2025.

Repurchase of common stock

During the six-month period ended June 30, 2025, the Company repurchased 0.6 million shares of its Class A common stock under its stock repurchase plan for $5.0 million. The Company repurchased no shares of its Class A common stock under its stock repurchase plan during the three-month period ended June 30, 2025 and the three- and six-month periods ended June 30, 2024. As of June 30, 2025, $157.4 million was available for repurchases under the Company’s stock repurchase plan.