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Capital Stock
 9 Months Ended
Sep. 30, 2023
Capital Stock [Abstract]  
Capital Stock
6.
Capital Stock

Net income per share

Net income per share is computed based on the weighted-average number of common shares outstanding during the periods presented. Additionally, diluted earnings per share data gives effect to all potentially dilutive common shares that were outstanding during the periods presented. For the three-month periods ended September 30, 2023 and 2022, stock options of 2.1 million and 0.5 million, respectively, and for the nine-month periods ended September 30, 2023 and 2022, stock options of 1.3 million and 0.1 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Dividends

In February, May and July 2023, the Company’s board of directors declared quarterly cash dividends of $0.39 per share. These quarterly cash dividends of $19.4 million, $19.5 million and $19.5 million were paid on March 8, 2023, June 7, 2023 and September 6, 2023, respectively, to stockholders of record on February 27, 2023, May 26, 2023 and August 25, 2023, respectively. In October 2023, the Company’s board of directors declared a quarterly cash dividend of $0.39 per share to be paid on December 6, 2023 to stockholders of record on November 24, 2023.

Repurchase of common stock

During the three- and nine-month periods ended September 30, 2023, the Company repurchased 0.6 million shares of its Class A common stock under its stock repurchase plan for $13.0 million.  During the three- and nine-month periods ended September 30, 2022, the Company repurchased 1.0 million shares and 1.4 million shares of its Class A common stock under its stock repurchase plan for $40.0 million and $60.0 million, respectively.  As of September 30, 2023, $162.4 million was available for repurchases under the Company’s stock repurchase plan.