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Stockholders' Equity | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity Dividends The following table summarizes the Company’s fixed and variable dividends declared for the three months ended March 31, 2024 and 2023:
|  | Rate per Share |  |
|  | Base |  | Variable |  |  |  | Total |  | Total Dividends Declared
|  |  |  |  |  |  |  |  |  | (In thousands)
Q1 2024 |  | $ | 1.25 |  |  | $ | 2.00 |  |  |  |  | $ | 3.25 |  |  | $ | 137,541 |
Q1 2023 |  | 1.25 |  |  | 3.55 |  |  |  |  | 4.80 |  |  | 204,884 |
Total dividends declared in the table above includes $2.5 million and $5.1 million associated with dividend equivalent rights on unvested equity-based compensation awards for the three months ended March 31, 2024 and 2023, respectively. On May 7, 2024, the Company declared a base-plus-variable cash dividend of $2.94 per share of common stock. The dividend will be payable on June 5, 2024 to shareholders of record as of May 22, 2024. Share Repurchase Program During the three months ended March 31, 2024, the Company repurchased 193,269 shares of common stock at a weighted average price of $155.20 per common share for a total cost of $30.0 million. As of March 31, 2024, there was $653.0 million of capacity remaining under the Company’s $750.0 million share repurchase program. During the three months ended March 31, 2023, the Company repurchased 110,667 shares of common stock at a weighted average price of $135.55 per common share for a total cost of $15.0 million. Warrants As of March 31, 2024, the Company had 2,812,498 warrants outstanding, comprised of (i) 494,352 warrants with an exercise price of $75.57 per share that expire on November 19, 2024, (ii) 1,102,262 warrants with an exercise price of $116.37 per share that expire on September 1, 2024 and (iii) 1,215,884 warrants with an exercise price of $133.70 per share that expire on September 1, 2025. During the three months ended March 31, 2024 and March 31, 2023, there were 420,157 and 82,954 warrants exercised, respectively.

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