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Earnings per Share (Notes) | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings per Share Net income is divided by the weighted average number of common shares outstanding during the year to calculate basic earnings per share. The following table summarizes the dilutive effect of RSUs and options to purchase common stock:
|  | Year ended December 31,
|  | 2023 |  | 2022 |  | 2021
Weighted average common shares—basic |  | 41,439,027 |  |  | 42,249,244 |  |  | 43,006,922 |
Dilutive effect of restricted stock units |  | 246,321 |  |  | 228,771 |  |  | 261,858 |
Dilutive effect of stock options |  | — |  |  | — |  |  | 12,296 |
Weighted average common shares—diluted |  | 41,685,348 |  |  | 42,478,015 |  |  | 43,281,076 |
In March 2020, the Company announced its Board of Directors had authorized the Company to increase the purchase of its common stock up to $250 million in the aggregate. The initial authorization, approved in November 2015, authorized up to $50 million of purchases in the aggregate of its common stock. During 2023, 2022 and 2021, the Company purchased 680,594, 1,264,088 and 596,084 shares of its outstanding common stock for $18.8 million, $36.9 million and $19.1 million, respectively. As of December 31, 2023, the Company has $86.9 million remaining under the repurchase authorization. Holders of common stock are entitled to dividends at the discretion of the Company's Board of Directors. In 2021, the Company's Board of Directors declared the first dividend since the Company's initial public offering in 2007. Since the fourth quarter of 2021, we have declared dividends of $0.04 per share of common stock in each quarter, and total dividends declared and paid on common shares during 2023, 2022 and 2021 were $6.7 million, $6.9 million and $1.7 million, respectively.

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