Equity

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Stockholders' Equity Note Disclosure

Note 3 - Equity

Stock Repurchase Program

During 2022, the Company’s Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $500.0 million in aggregate value of its common stock through December 31, 2024 (“Stock Repurchase Program”). The Stock Repurchase Program permits the Company to repurchase shares of its common stock from time to time in open market transactions,

through privately negotiated transactions or by other means in accordance with federal securities laws and subject to certain provisions of the Credit Agreement and the indentures governing the Senior Notes, as defined in Note 5 - Long-Term Debt. Please refer to Note 3 - Equity in the 2022 Form 10-K for additional information regarding the Company’s Stock Repurchase Program.

The following table presents the Company’s common stock repurchase activity for the three and nine months ended September 30, 2023, and 2022:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands, except per share data)
Shares of common stock repurchased (1)	2,352		453		6,316		453
Weighted-average price per share (2)	$	40.97	$	44.69	$	32.48	$	44.69
Cost of shares of common stock repurchased (2) (3)	$	96,336	$	20,232	$	205,120	$	20,232

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(1)    All repurchased shares of the Company’s common stock were retired upon repurchase.

(2)    Amounts exclude excise taxes, commissions, and fees.

(3)    Amounts may not calculate due to rounding.

As of September 30, 2023, $237.7 million remained available for repurchases of the Company’s outstanding common stock under the Stock Repurchase Program.