Shareholders' Equity

12 Months Ended

Dec. 31, 2022

Stockholders Equity Note [Abstract]

Shareholders' Equity

4. Shareholders’ Equity

During 2022, 2021 and 2020, we purchased 1,352,954, 709,200, and 337,007 shares of the Company’s common stock for $175.4 million, $100.0 million, and $25.0 million, respectively, through open market transactions as part of a publicly-announced share repurchase program. In January 2023, our Board of Directors authorized the Company to repurchase up to an aggregate of $75 million of our common stock. Beginning in 2023, we will be subject to a 1% excise tax on stock repurchases as enacted by the United States Inflation Reduction Act which we will include in the cost of stock repurchases as a reduction of shareholders’ equity.