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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity Common and Preferred Stock The following table provides details with respect to the changes to the number of shares of common stock, $0.01 par value, outstanding during the first six months of 2024 (in thousands):
|  |  |  |  | Outstanding
Shares of common stock outstanding – December 31, 2023 |  |  |  |  | 63,327 |
Restricted stock awards, net of forfeitures |  |  |  |  | 1,414 |
Shares withheld for taxes on vesting of stock awards |  |  |  |  | (409) |
Purchases of treasury stock |  |  |  |  | (543) |
Shares of common stock outstanding – June 30, 2024 |  |  |  |  | 63,789 |
As of June 30, 2024 and December 31, 2023, the Company had 25,000,000 shares of preferred stock, $0.01 par value, authorized, with no shares issued or outstanding. On February 16, 2023, the Company’s Board of Directors authorized $25.0 million for the repurchase of the Company’s common stock, par value $0.01 per share, through February 2025. Subject to applicable securities laws, such purchases will be at such times and in such amounts as the Company deems appropriate. During the three and six months ended June 30, 2024, the Company purchased 543 thousand shares of common stock under the program at a total cost of $2.4 million. The amount remaining under the Company’s share repurchase authorization as of June 30, 2024 was $15.8 million. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, reported as a component of stockholders’ equity, primarily relates to fluctuations in currency exchange rates against the U.S. dollar as used to translate certain of the international operations of the Company’s operating segments. Accumulated other comprehensive loss increased from $70.0 million at December 31, 2023 to $76.2 million at June 30, 2024. For the three and six months ended June 30, 2024 and 2023, currency translation adjustments recognized as a component of other comprehensive income (loss) were primarily attributable to the United Kingdom and Brazil. During the six months ended June 30, 2024, the exchange rates for the British pound and the Brazilian real weakened by 1% and 12%, respectively, compared to the U.S. dollar, contributing to other comprehensive loss of $6.2 million. During the six months ended June 30, 2023, the exchange rates for the British pound and the Brazilian real strengthened by 5% and 8%, respectively, compared to the U.S. dollar, contributing to other comprehensive income of $7.4 million.

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