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Capital Stock
 12 Months Ended
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.