EQUITY |
6 Months Ended |
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Jun. 30, 2025 | |
| Equity [Abstract] | |
| EQUITY | EQUITY The Company is authorized to issue 4,020,000,000 shares of capital stock, consisting of (i) 4,000,000,000 shares of Common Stock and (ii) 20,000,000 shares of Preferred Stock. As of June 30, 2025, there were 171,292,585 and 145,914,429 shares of Common Stock issued and outstanding, respectively. Due to the fact that the shares of Preferred Stock are mandatorily redeemable, the Preferred Stock is classified as a liability on the accompanying condensed consolidated balance sheets. Refer to Note 7, “Long-Term Debt and Preferred Stock” for additional information about the Preferred Stock. On May 7, 2025, the Board re-established the limit for Common Stock repurchases at $100.0 million. The approximate dollar value of shares that may yet be repurchased under the share repurchase plan was $78.3 million as of June 30, 2025 (the “Share Repurchase Plan”). During the three and six months ended June 30, 2025, the Company repurchased 2,886,221 and 3,774,675 shares, respectively, under its Share Repurchase Plan. During the three and six months ended June 30, 2024, the Company repurchased 18,535 and 2,987,892 shares, respectively. The repurchased shares are recorded at cost and are being held in treasury. On August 6, 2025, the Board re-established the limit for Common Stock repurchases at $100.0 million. The Company expects to periodically re-establish the limit for Common Stock repurchases based on subsequent repurchase activity.
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