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Capital Stock
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Capital Stock

Note 13 — Capital Stock

 

Under the share repurchase plan adopted by the Board of Directors of the Company (the "Board") in May 2018 (the “2018 Repurchase Plan"), the Board authorized $500 million for the repurchase of the Company's common stock which was fully utilized as of June 30, 2024. Repurchase of the Company’s common stock under the 2018 Repurchase Plan was all made in open market transactions. On February 19, 2024, the Board approved a $300 million share repurchase plan (the “2024 Share Repurchase Plan”) which was in addition to the amount that remained available for repurchases under the 2018 Repurchase Plan. The repurchase of the Company’s common stock under the 2024 Share Repurchase Plan are anticipated to be made in open market transactions, block transactions, privately negotiated purchase transactions or other purchase techniques at the discretion of management based upon consideration of market, business, legal, accounting, and other factors.

 

During the three months ended June 30, 2025, the Company repurchased 939,012 shares of common stock in open market transactions under the 2024 Share Repurchase Plan at an average price of $53.24 per share and at a cost of $50.5 million, including commissions and excise tax, leaving approximately $134.0 million available for additional repurchases under the 2024 Share Repurchase Plan. During the six months ended June 30, 2025, the Company repurchased a total of 1,774,174 shares at a total cost of $100.9 million. The acquisition of these shares was accounted for under the treasury stock method.