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Equity and Redeemable Non-Controlling Interest | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Equity and Redeemable Non-Controlling Interest | EQUITY AND REDEEMABLE NON-CONTROLLING INTEREST Common Stock The shares of common stock are not convertible into any other series or class of our securities. Holders of common stock are entitled to one vote for each share held of record. Repurchases of Common Stock Repurchases of our common stock occurred under repurchase authorizations granted by our Board and related to shares withheld as part of the vesting of RSUs. Share repurchases under our authorization were as follows:
| Repurchases Occurring in 2024 |  | Cumulative Repurchases as of December 31, 2024
| Shares |  | Average Price |  | Shares |  | Average Price
Share repurchase authorization | 1,229,503 |  |  | $ | 283.02 |  |  | 8,277,013 |  |  | $ | 191.01 |
As of December 31, 2024, we had $469.0 million available for repurchases pursuant to our share repurchase authorization. In addition, during 2024, we repurchased 45,989 shares at an average price of $328.63 per share, for a total of $15.1 million, related to tax withholdings associated with the vesting of RSUs. The repurchase of shares related to tax withholdings associated with share-based awards does not reduce the number of shares available for repurchase as approved by our Board. The following is a summary of our repurchases:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Shares repurchased pursuant to repurchase authorizations 1 | 1,229,503 |  |  | 142,729 |  |  | 2,428,850 |
Total purchase price ($ in millions) | $ | 348.0 |  |  | $ | 34.4 |  |  | $ | 671.4 |
Average purchase price per share | $ | 283.02 |  |  | $ | 240.81 |  |  | $ | 276.42 |
Shares repurchased in association with tax withholdings on the vesting of RSUs | 45,989 |  |  | 70,692 |  |  | 56,911 |
1.Price excludes excise taxes imposed under the Inflation Reduction Act of $2.9 million for the twelve months ended December 31, 2024. Dividends We declared and paid dividends on our common stock as follows:
Quarter declared |  | Dividend amount per share |  | Total amount of dividends paid ($ in millions)
2022 |  |  |  |
First quarter |  | $ | 0.35 |  |  | $ | 10.3 |
Second quarter |  | 0.42 |  |  | 11.9 |
Third quarter |  | 0.42 |  |  | 11.6 |
Fourth quarter |  | 0.42 |  |  | 11.4 |
2023 |  |  |  |
First quarter |  | $ | 0.42 |  |  | $ | 11.5 |
Second quarter |  | 0.50 |  |  | 13.8 |
Third quarter |  | 0.50 |  |  | 13.8 |
Fourth quarter |  | 0.50 |  |  | 13.7 |
2024 |  |  |  |
First quarter |  | $ | 0.50 |  |  | $ | 13.8 |
Second quarter |  | 0.53 |  |  | 14.4 |
Third quarter |  | 0.53 |  |  | 14.2 |
Fourth quarter |  | 0.53 |  |  | 14.1 |
Redeemable Non-Controlling Interest In 2021, we expanded into Canada through a partnership with Toronto-based Pfaff Automotive Partners. As part of the partnership, we were granted the right to purchase (Call Option), and granted Pfaff Automotive a right to sell (Put Option), the remaining ownership interest in the partnership after a three-year period. As a result of this redemption feature, we recorded redeemable NCI that is classified as mezzanine equity in the accompanying Consolidated Balance Sheets. In 2024, we completed the acquisition of the remaining 10.1% interest in our redeemable non-controlling interest (NCI), resulting in us now owning 100% of our operations in Canada. Prior to this transaction, the acquired entities were fully consolidated in our financial statements due to our majority ownership; however, this acquisition eliminates the redeemable NCI. The transaction was executed for total consideration of $58.7 million, recognized as a component of “Other financing activities” within the Consolidated Statements of Cash Flows, which included an additional premium of $11.6 million recognized as a component of “Net income attributable to redeemable non-controlling interest” in our Consolidated Statements of Operations.

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