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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity Class A and Class B Common Stock The shares of Class A common stock are not convertible into any other series or class of our securities. Each share of Class B common stock, however, is freely convertible into one share of Class A common stock at the option of the holder of the Class B common stock. All shares of Class B common stock automatically convert to shares of Class A common stock (on a share-for-share basis, subject to adjustment) on the earliest record date for an annual meeting of our shareholders on which the number of shares of Class B common stock outstanding is less than 1% of the total number of shares of common stock outstanding. Shares of Class B common stock may not be transferred to third parties, except for transfers to certain family members and in other limited circumstances. Holders of Class A common stock are entitled to one vote for each share held of record and holders of Class B common stock are entitled to ten votes for each share held of record. The Class A common stock and Class B common stock vote together as a single class on all matters submitted to shareholders. Repurchases of Class A Common Stock Repurchases of our Class A Common Stock occurred under repurchase authorizations granted by our Board of Directors and related to shares withheld as part of the vesting of restricted stock units (RSUs). On October 22, 2018, our Board of Directors approved an additional $250 million repurchase authorization of our Class A common stock, increasing our total share repurchase authorization to $500 million. Share repurchases under our authorization were as follows:
|  | Repurchases Occurring in 2020 |  | Cumulative Repurchases as of December 31, 2020
|  | Shares |  | Average Price |  | Shares |  | Average Price
Share repurchase authorization |  | 563,953 |  |  | $ | 81.71 |  |  | 3,719,048 |  |  | $ | 84.02 |
As of December 31, 2020, we had $187.5 million available for repurchases pursuant to our share repurchase authorization. In addition, during 2020, we repurchased 30,620 shares at an average price of $149.02 per share, for a total of $4.6 million, related to tax withholdings associated with the vesting of RSUs. The repurchase of shares related to tax withholdings associated with stock awards does not reduce the number of shares available for repurchase as approved by our Board of Directors. The following is a summary of our repurchases in the years ended December 31, 2020, 2019 and 2018:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Shares repurchased pursuant to repurchase authorizations |  | 563,953 |  |  | — |  |  | 2,112,370 |
Total purchase price (in millions) |  | $ | 46.1 |  |  | $ | — |  |  | $ | 179.0 |
Average purchase price per share |  | $ | 81.71 |  |  | $ | — |  |  | $ | 84.72 |
Shares repurchased in association with tax withholdings on the vesting of RSUs |  | 30,620 |  |  | 40,356 |  |  | 30,119 |
Dividends We declared and paid dividends on our Class A and Class B Common Stock as follows:
Quarter declared |  | Dividend amount per Class A and Class B share |  | Total amount of dividends paid (in millions)
2018 |  |  |  |
First quarter |  | $ | 0.27 |  |  | $ | 6.7 |
Second quarter |  | 0.29 |  |  | 7.2 |
Third quarter |  | 0.29 |  |  | 7.0 |
Fourth quarter |  | 0.29 |  |  | 6.8 |
2019 |  |  |  |
First quarter |  | $ | 0.29 |  |  | $ | 6.7 |
Second quarter |  | 0.30 |  |  | 7.0 |
Third quarter |  | 0.30 |  |  | 7.0 |
Fourth quarter |  | 0.30 |  |  | 6.9 |
2020 |  |  |  |
First quarter |  | $ | 0.30 |  |  | $ | 7.0 |
Second quarter |  | 0.30 |  |  | 6.8 |
Third quarter |  | 0.31 |  |  | 7.1 |
Fourth quarter |  | 0.31 |  |  | 8.2 |
Follow-On Public Offering In October 2020, we completed the public offering of 3,659,091 shares of our Class A common stock, no par value per share, which included the exercise in full by the underwriters of their option to purchase up to 477,272 additional shares of our Class A common stock, at the public offering price of $220.00 per share. We received $777.6 million from the offering, net of the underwriting discount and before deducting the offering expenses of $0.5 million. ATM Equity Offering Agreement On July 24, 2020, we entered into an ATM Equity Offering SM Sales Agreement with BofA Securities, Inc. and Jefferies LLC acting as sales agents and/or principals and Bank of America, N.A. and Jefferies LLC acting as forward purchasers, pursuant to which we may offer and sell, from time to time through the sales agents, shares of our Class A common stock, no par value, having an aggregate gross sales price of up to $400.0 million. To date, no sales have been made under the program.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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