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Capital Stock | 12 Months Ended
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Dec. 31, 2024
Capital Stock [Abstract] |
Capital Stock |
9. | Capital Stock
The Company’s authorized capital stock consists of 25 million shares of preferred stock, par value $0.001 per share, 500 million shares of Class A common stock, par value $0.001 per share, and 100 million shares of Class B common stock, par value $0.001 per share. As of December 31, 2024 and 2023, there were no preferred or Class B common shares outstanding. Each share of Class A common stock entitles the holder to one vote on matters submitted to a vote of the Company’s stockholders. Stock dividends of Class A common stock may be paid only to holders of Class A common stock. Class A common stock has no conversion rights. Weighted-average common shares outstanding The following is a reconciliation of the weighted-average common shares outstanding for purposes of computing basic and diluted net income per share (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Basic weighted-average common shares outstanding |  |  | 49,662 |  |  |  | 49,711 |  |  |  | 50,002 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Stock awards and options |  |  | — |  |  |  | 149 |  |  |  | 523 |
Diluted weighted-average common shares outstanding |  |  | 49,662 |  |  |  | 49,860 |  |  |  | 50,525 |
For the years ended December 31, 2024, 2023 and 2022, other stock options totaling 1.5 million, 1.8 million and 0.1 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive. Dividends Quarterly cash dividends for the years ended December 31, 2024, 2023 and 2022 totaled $11.9 million, $77.6 million and $77.0 million or $0.06 per share in all quarters of 2024, $0.39 in all quarters of 2023 and $0.385 in all quarters of 2022. The board of directors has declared a quarterly cash dividend of $0.06 per share of Class A common stock to be paid on March 5, 2025 to stockholders of record on February 24, 2025. Repurchases of common stock In July 2018, the Company’s board of directors approved a stock repurchase plan with an authorization amount of $500 million. The repurchases are used primarily for strategic initiatives and to offset dilution from the Company’s equity incentive plans. During the year ended December 31, 2024, the Company purchased no shares. During the years ended December 31, 2023 and 2022, the Company purchased 0.6 million and 1.7 million shares under the 2018 plan for $13.0 million and $70.0 million, respectively. At December 31, 2024, $162.4 million was available for repurchases under the 2018 stock repurchase plan.

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