Stock Repurchase Program |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Stockholders Equity Note [Abstract] | |
| Stock Repurchase Program | 11. STOCK REPURCHASE PROGRAM On January 2, 2026, the Board of Directors of the Company approved a new common stock repurchase program for up to $100.0 million which expires June 30, 2027 (the "Stock Repurchase Program"). This new Stock Repurchase Program replaced the previous stock repurchase program. The other terms of the Stock Repurchase Program are consistent with the Company's previous stock repurchase program. The timing of purchases and the number of shares repurchased under the Stock Repurchase Program will depend on a variety of factors including stock price, trading volume and other general market and economic conditions, the Company’s assessment of alternative uses of capital, regulatory requirements and other factors. Any such repurchases shall be in accordance with the terms of Rule 10b-18 promulgated under the Exchange Act (including without limitation “block” purchases as defined pursuant thereto) and shall be made in accordance with all applicable laws and regulations in effect from time to time. The Stock Repurchase Program may be modified, suspended or discontinued at any time in the Company's discretion without prior notice, and does not commit the Company to repurchase shares of its common stock. The actual number and value of the shares to be purchased will be determined by the Company at its discretion and will depend on a number of factors including the performance of the price of the Company's common stock, other market conditions, the availability and economics of alternative investment opportunities and other factors the Company deems appropriate. During the quarter ended March 31, 2026, we repurchased approximately 0.2 million shares of our common stock for approximately $8.1 million at an average price of $33.71 per share. During the quarter ended March 31, 2025, the Company repurchased approximately 1.0 million shares of our common stock for approximately $25.2 million at an average price of $25.58 per share. As of March 31, 2026, approximately $91.9 million was available under the Stock Repurchase Program to repurchase outstanding shares of our common stock. Shares of stock repurchased under the program are held as treasury shares. These repurchased shares reduce the weighted average number of shares of common stock outstanding for basic and diluted earnings per share calculations. |