Stockholders' Equity |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||
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| 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 2026 (in thousands):
As further discussed in Note 4, “Long-term Debt,” on April 1, 2026 the Company issued 529,428 shares of common stock in connection with the retirement of its 2026 Notes. As of June 30, 2026 and December 31, 2025, the Company had 25,000,000 shares of preferred stock, $0.01 par value, authorized, with no shares issued or outstanding. In October 2024, the Company’s Board of Directors authorized $50.0 million for repurchases of the Company’s common stock, par value $0.01 per share, through October 2026. Subject to applicable securities laws, such purchases will be at such times and in such amounts as the Company deems appropriate. During the six months ended June 30, 2026, the Company purchased 583,541 shares of common stock under the program at a total cost of $5.1 million. The amount remaining under the Company’s share repurchase authorization as of June 30, 2026 was $19.6 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 $66.3 million at December 31, 2025 to $66.8 million at June 30, 2026. For the three and six months ended June 30, 2026 and 2025, 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, 2026, the exchange rate for the British pound weakened by 2% compared to the U.S. dollar, while the Brazilian real strengthened by 6%, contributing to other comprehensive loss of $0.5 million. During the six months ended June 30, 2025, the exchange rates for the British pound and the Brazilian real strengthened by 9% and 13%, respectively, contributing to other comprehensive income of $14.6 million.
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