Shareholders' Equity

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Shareholders' Equity

NOTE 17 Shareholders’ Equity

Under the authorization from the Company’s board of directors, shares may be purchased from time to time, at the Company’s discretion and subject to the availability of stock, market conditions, the trading price of the stock, alternative uses for capital, the Company’s financial performance and other potential factors. These purchases may be carried out through open market purchases, block trades, accelerated share repurchase plans of up to $100 million each (unless otherwise approved by the board of directors), negotiated private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. On May 1, 2019, the Company's board of directors authorized the purchasing of up to an additional $372 million of the Company's outstanding common stock.

During 2024, the Company did not repurchase shares. During 2023, the Company repurchased 2,100 shares at an average price of $53.84 for a minimal amount under the current share repurchase authorization. At December 31, 2024, the remaining amount authorized by our board of directors for share repurchases was approximately $249 million. Under the authorized repurchase programs, the Company has repurchased approximately 19.7 million shares for an aggregate cost of approximately $748 million between 2014 and 2024.

During 2024, the Company paid a cumulative dividend of $0.54 per share for a total of $154 million. During 2023, the Company paid a cumulative dividend of $0.48 per share for a total of $135 million. On January 22, 2025 the board of directors approved a dividend of $0.15 per share payable on February 12, 2025 to shareholders of record on February 5, 2025.

During 2024, the Company did not issue any shares as part of any business combinations. During 2023, the Company issued 261,614 shares valued at $18 million associated with business combinations.