CAPITAL STOCK

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

CAPITAL STOCK

CAPITAL STOCK

CAPITAL STOCK

At December 31, 2024, our authorized capital stock consists of 400,000,000 shares of common stock, par value $0.01 per share, and 10,000,000 shares of preferred stock, par value of $0.01 per share.

TREASURY STOCK

On March 4, 2022, our Board of Directors authorized the repurchase by us of up to an aggregate of $300.0 million of our common stock by various means from time to time through and including December 31, 2026. Pursuant to this authorization, we did not repurchase any of our shares of common stock in 2024. In 2023, we repurchased a total of 3,893,098 shares of our common stock at an average price per share of $44.86, for a total purchase price of $174.6 million. In 2022, we repurchased a total of 786,235 shares of our common stock at an average price per share of $40.80, for a total purchase price of $32.1 million, pursuant to this authorization. As of December 31, 2024, we had approximately $93.3 million remaining for the repurchase of our common stock under this authorization.

In 2024, 2023 and 2022, we issued 470,788 treasury shares, 490,242 treasury shares and 765,917 treasury shares, respectively, at an average cost of $3.19 per share each year for restricted stock units that vested during these years. In 2024, 2023 and 2022, we repurchased 176,093 shares, 176,196 shares and 310,904 shares of our common stock, respectively, at an average cost of $43.92 per share, $52.62 per share and $41.92 per share, respectively, in accordance with our stock-based compensation plans to satisfy employee withholding tax requirements resulting from certain restricted stock units becoming vested.

We account for treasury shares using the FIFO cost method. As of December 31, 2024, 68,317,846 shares of our common stock were held in treasury.