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Stockholders' Equity (Notes)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Stockholders Equity
8.Stockholders' Equity
During 2024, we repurchased or withheld an aggregate of 697,177 shares of our common stock, as described below.
Repurchase Program
Our Board of Directors (the “Board”) has authorized a program to repurchase shares of our outstanding common stock (“Repurchase Program”). The purchases may be made from time to time in the open market or directly from stockholders at prevailing market prices based on market conditions and other factors. During 2024, 516,798 shares were repurchased under the Repurchase Program. As of December 31, 2024, we were authorized to repurchase an additional 1,452,764 shares under the Repurchase Program.
The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposes a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During 2023, we recorded the applicable excise tax in treasury stock of $1 million as part of the cost basis of stock repurchased and recorded a corresponding liability for the excise tax payable in other accrued liabilities in our Consolidated Balance Sheets.
Withheld Shares
During 2024, we withheld 180,379 shares to satisfy tax withholding obligations for the vesting of long-term incentive and restricted stock unit awards.
Dividends
The Board declared and paid quarterly dividends as follows:
(amounts per share)20242023
First quarter$0.57 $0.52 
Second quarter0.60 0.57 
Third quarter0.60 0.57 
Fourth quarter0.60 0.57 
During 2024 and 2023, we declared and paid dividends totaling $89 million and $84 million, respectively.