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Earnings per Share (Notes)
 12 Months Ended
Dec. 31, 2024
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 on common stock:
Year ended December 31,
202420232022
Weighted average common shares—basic40,725,714 41,439,027 42,249,244 
Dilutive effect of restricted stock units330,279 246,321 228,771 
Weighted average common shares—diluted41,055,993 41,685,348 42,478,015 
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 2024, 2023 and 2022, the Company purchased 771,067, 680,594 and 1,264,088 shares of its outstanding common stock for $19.3 million, $18.8 million and $36.9 million, respectively. As of December 31, 2024, the Company has $67.6 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 2024, 2023 and 2022 were $6.6 million, $6.7 million and $6.9 million, respectively.