Shareholders' Equity

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Shareholders' Equity

4. Shareholders’ Equity

During 2023, 2022 and 2021, we purchased 1,024,328, 1,352,954, and 709,200 shares of the Company’s common stock for $166.0 million, $175.4 million, and $100.0 million, respectively, through open market transactions as part of a publicly-announced share repurchase program. Our $75.0 million repurchase authority replenished by our Board of Directors in October 2023 remains in effect.

As of 2023, we are subject to a 1% excise tax on stock repurchases as enacted by the United States Inflation Reduction Act which we include in the cost of stock repurchases as a reduction of shareholders’ equity.