STOCKHOLDERS’ EQUITY

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

STOCKHOLDERS’ EQUITY

STOCKHOLDERS’ EQUITY

Capital Stock

The Company’s authorized capital stock consists of 400,000,000 shares of common stock, par value $0.00001 per share (the “Common Stock”), and 50,000,000 shares of preferred stock, par value $0.00001 per share.

Stock Repurchase Program

The following table summarizes share repurchase activity for the periods presented:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Amount available for repurchase — beginning of period(1)	$	230,413	$	86,831
Amount repurchased	(58,029)		(38,418)
Amount available for repurchase — end of period	$	172,384	$	48,413

(1) Represents the amount available for repurchase as of January 1 for the years presented, adjusted for previously expired share repurchase authorizations.

The Company repurchased 1,948,187 shares under the share repurchase program during the three months ended March 31, 2022 and 1,447,309 during the three months ended March 31, 2021.