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Stockholders' Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Accumulated other comprehensive income
The change in accumulated other comprehensive income related to our interest rate derivatives, net of taxes, was as follows (in millions):
Three months ended March 31,
20252024
Accumulated gain at beginning of period$35.0 $33.7 
Unrealized (loss) gain in fair value of interest rate derivatives(6.1)3.9 
Reclassifications of realized net losses to earnings0.8 0.8 
Accumulated gain at end of period$29.7 $38.4 
The reclassifications of realized net losses to earnings in the above table are recorded within interest expense, net.
Share repurchases
During the three months ended March 31, 2025, we repurchased 200 thousand shares of our common stock with an aggregate price of approximately $34.3 million, or $171.47 price per share. The effect of these treasury shares in reducing the number of common shares outstanding is reflected in our earnings per share calculation. We did not repurchase any common stock during the three months ended March 31, 2024.
On February 27, 2025, we announced that our board of directors authorized a new stock repurchase program that allows for the repurchase of up to $500.0 million of our outstanding common stock. The new program replaces the previous program and is in effect through March 1, 2026.
Dividends
During the three months ended March 31, 2025, we declared and paid the following cash dividends (amount declared and amount paid in millions):
Declaration DateRecord DatePayment DateDividend Per ShareAmount DeclaredAmount Paid
2/27/20253/14/20253/31/2025$1.70 $47.1 $46.7 
2/27/20253/14/20253/31/20250.37 10.2 10.1 
During the three months ended March 31, 2024, we declared and paid the following cash dividends (amount declared and amount paid in millions):
Declaration DateRecord DatePayment DateDividend Per ShareAmount DeclaredAmount Paid
2/22/20243/15/20243/31/2024$1.60 $45.5 $45.1 
2/22/20243/15/20243/31/20240.35 10.0 9.8 
During the three months ended March 31, 2025 and 2024, we declared and paid a special annual dividend in addition to a quarterly dividend. The amount of dividends declared may vary from the amount of dividends paid in a period due to the vesting of restricted stock awards and performance share awards, which accrue dividend equivalent rights that are paid when the award vests. The payment of future dividends will be at the discretion of our board of directors and will depend on our future earnings, capital requirements, financial condition, future prospects, results of operations, contractual restrictions, legal requirements, and other factors deemed relevant by our board of directors.