Equity

9 Months Ended

Sep. 30, 2020

Stockholders Equity Note [Abstract]

Equity

9. Equity

Stock Repurchase Program

On November 5, 2019, we received authorization from our Board of Directors to repurchase up to an additional $200,000,000 of our common stock, from time to time, in the open market or in privately negotiated transactions. From January 1, 2020 through October 28, 2020, we repurchased 13,813,158 common shares at a weighted average price of $8.69 per share, or $120,000,000 in the aggregate. Of the 13,813,158 common shares repurchased, (i) 10,856,865 shares were repurchased in the three months ended March 31, 2020 at a weighted average price of $9.21 per share, or $100,000,000 in the aggregate, (ii) 1,233,190 shares were repurchased in the three months ended September 30, 2020 at a weighted average price of $6.91 per share, or $8,520,000 in the aggregate, and (iii) the remaining 1,723,103 shares were repurchased in October 2020 at a weighted average price of $6.66 per share, or $11,480,000 in the aggregate. We have $80,000,000 available for future repurchases under the existing program. The amount and timing of future repurchases, if any, will depend on a number of factors, including, the price and availability of our shares, trading volume, general market conditions and available funding. The stock repurchase program may be suspended or discontinued at any time.