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STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2025
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
On October 23, 2024, our Board of Directors authorized a renewal of the Company's stock repurchase program which permits the repurchase up to $1.0 billion of the Company’s common stock through December 31, 2026. Repurchases under the program may occur from time to time through open market purchases, privately negotiated transactions or other transactions.

Using the availability under our stock repurchase program, we may enter into accelerated share repurchase agreements ("ASRs"). Such agreements require a cash payment, which has generally been $50.0 million for the agreements we have executed. We receive an initial delivery of 80% of common stock shares, with the remaining 20% received (or to be received) at final settlement using a volume-weighted average price calculation in accordance with the terms of each ASR agreement.

The following table summarizes share repurchase activity for the periods presented:
Three Months Ended March 31,
(Number of Shares)20252024
Number of shares repurchased with ASR(1)
842,217705,343
Other share repurchases(2)
1,401,778786,142
Total amount repurchased2,243,9951,491,485
(1) Subsequent to March 31, 2025 we received an ASR settlement of 173,293 shares which are not included in the table above.
(2) Amount represents shares repurchased under our existing share repurchase program which are not part of ASRs.
The following table summarizes our spend on share repurchases for the periods presented:
Three Months Ended March 31,
(Dollars in thousands)20252024
Amount available for repurchase — beginning of period$910,093 $494,489 
Amount repurchased(135,093)(91,649)
Amount available for repurchase — end of period$775,000 $402,840