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Capital stock
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Capital stock Capital stock
Share repurchases
 The Board of Directors of the Company (the “Board”) has authorized repurchases of up to $2,250,000 under the Company’s existing share repurchase program, including $500,000 approved during the first quarter of 2023. Under the program, shares may be purchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
 
During the three months ended March 31, 2022 and 2023, the Company repurchased 1,630,533 and 630,605 of its common shares, respectively, on the open market at a weighted average price of $46.61 and $47.57 per share, respectively, for an aggregate cash amount of $75,999 and $30,000, respectively. All repurchased shares have been retired. 
 
The Company records repurchases of its common shares on the settlement date of each transaction. Shares purchased and retired are deducted to the extent of their par value from common stock and from retained earnings for the excess over par value. Direct costs incurred to acquire the shares are included in the total cost of the shares purchased. For the three months ended March 31, 2022 and 2023, retained earnings were reduced by the direct costs related to share repurchases of $33 and $13, respectively.
 
$594,924 remained available for share repurchases under the Company’s existing share repurchase program as of March 31, 2023. This repurchase program does not obligate the Company to acquire any specific number of shares and does not specify an expiration date. 
17. Capital stock (Continued)

Dividend
On February 10, 2022, the Company announced that its Board had approved a 16% increase in its quarterly cash dividend to $0.125 per share, up from $0.1075 per share in 2021, representing an annual dividend of $0.50 per common share, up from $0.43 per share in 2021, payable to holders of the Company’s common shares. On March 23, 2022, the Company paid a dividend of $0.125 per share, amounting to $23,134 in the aggregate, to shareholders of record as of March 10, 2022.

On February 9, 2023, the Company announced that its Board had approved a 10% increase in its quarterly cash dividend to $0.1375 per share, up from $0.125 per share in 2022, representing a planned annual dividend of $0.55 per common share, up from $0.50 per share in 2022, payable to holders of the Company’s common shares. On March 24, 2023, the Company paid a dividend of $0.1375 per share, amounting to $25,255 in the aggregate, to shareholders of record as of March 10, 2023.