Stockholders' Equity

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

NOTE 9 – STOCKHOLDERS’ EQUITY

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss as of March 31, 2024 and 2023 included the following:

	Three Months Ended March 31, 2024
	Foreign Currency Translation Adjustments			Change in Fair Value of Interest Rate Hedge Agreements			Total
Accumulated other comprehensive (loss) income at December 31, 2023	$	(12,695	)	$	810		$	(11,885	)
Current period other comprehensive (loss) income:
Other comprehensive (loss) income before reclassifications		(1,534	)		4,589			3,055
Amounts reclassified from accumulated other comprehensive (loss) income (1)		—			(1,671	)		(1,671	)
Effect of taxes		112			(812	)		(700	)
Total current period other comprehensive (loss) income		(1,422	)		2,106			684
Accumulated other comprehensive (loss) income at March 31, 2024	$	(14,117	)	$	2,916		$	(11,201	)

(1) The Company expects to reclassify $5.2 million of gains related to the Change in Fair Value of Interest Rate Hedge Agreements from accumulated other comprehensive loss into earnings during the next 12 months.

	Three Months Ended March 31, 2023
	Foreign Currency Translation Adjustments			Change in Fair Value of Interest Rate Hedge Agreement and Other Adjustments			Total
Accumulated other comprehensive (loss) income at December 31, 2022	$	(14,056	)	$	5,923		$	(8,133	)
Current period other comprehensive (loss) income:
Other comprehensive (loss) income before reclassifications		1,753			(2,532	)		(779	)
Amounts reclassified from accumulated other comprehensive (loss) income		—			(1,420	)		(1,420	)
Effect of taxes		(192	)		1,057			865
Total current period other comprehensive (loss) income		1,561			(2,895	)		(1,334	)
Accumulated other comprehensive (loss) income at March 31, 2023	$	(12,495	)	$	3,028		$	(9,467	)

Share Repurchases

The Company repurchased shares under a $200 million share repurchase program authorized by the Company’s board of directors. For the three months ended March 31, 2024 and 2023, the Company used $23.8 million of cash to repurchase 172,817 shares and $18.1 million of cash to repurchase 180,000 shares, respectively. As of March 31, 2024, $69.9 million of repurchase authority remained available for share repurchases.

In addition, the Company repurchased shares in connection with vesting of restricted stock units granted to employees. During the three months ended March 31, 2024 and 2023, the Company used $6.6 million of cash to repurchase 45,881 shares and $4.7 million of cash to repurchase 45,047 shares, respectively.