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Stockholders' Equity
 12 Months Ended
Dec. 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):
Years Ended December 31,
202520242023
Accumulated gain at beginning of period$35.0 $33.7 $40.6 
Unrealized (loss) in fair value of interest rate derivatives(14.0)(2.0)(10.2)
Reclassification of realized net losses to earnings1.1 3.3 3.3 
Accumulated gain at end of period $22.1 $35.0 $33.7 
The reclassifications of realized net losses to earnings in the above table are recorded within interest expense, net.
Share repurchases
On February 27, 2025, we announced that our board of directors authorized a stock repurchase program that allows for the repurchase of up to $500.0 million of our outstanding common stock. This program replaced the previous program and is in effect through March 1, 2026. During the year ended December 31, 2025, we repurchased 850 thousand shares of our common stock with an aggregate price of approximately $172.6 million, or $203.03 average price per share. As of December 31, 2025, we had $327.4 million remaining on the stock repurchase program. During the year ended December 31, 2024 we repurchased approximately 698 thousand shares of our common stock with an aggregate price of approximately $145.3 million, or $208.23 average 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.
On February 26, 2026, 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, 2027.
Dividends
During the year ended December 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 
5/8/20256/15/20256/30/20250.37 10.1 10.1 
8/7/20259/15/20259/30/20250.37 10.1 10.0 
10/30/202512/15/202512/31/20250.37 10.0 9.9 
During the year ended December 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 10.09.8 
5/9/20246/15/20246/30/20240.35 9.89.8 
8/1/20249/15/20249/30/20240.35 9.89.8 
11/7/202412/15/202412/31/20240.35 9.89.7 
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. During the years ended December 31, 2025 and 2024, we paid $0.8 million and $0.5 million, respectively, in accrued dividends not included in the table above related to the vesting of these awards. 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.
Our credit facilities place restrictions on the amount of dividends and stock repurchases we can make during a fiscal year. See Note 8, Long-term Debt, for more information.