Share Repurchase Program |
6 Months Ended |
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Jun. 30, 2026 | |
| Equity [Abstract] | |
| Share Repurchase Program | Share Repurchase Program On December 19, 2025, we announced that our Board of Directors authorized the repurchase of up to $299,000,000 of our common stock, including amounts that remained from prior authorizations. As of June 30, 2026, approximately $149,000,000 remained available for repurchases under our share repurchase program. Our share repurchases may be made on the open market, subject to Rule 10b-18 or in privately negotiated transactions, through block trades, through 10b5-1 plans or otherwise, at management’s discretion. The number of shares purchased and the timing of the purchases will be based on market conditions, working capital requirements, general business conditions and other factors. We intend to retire the repurchased shares. During the three months ended June 30, 2026, we repurchased 710,276 shares of our common stock on the open market at a total cost of approximately $75,000,000 (an average price of $105.59 per share). During the three months ended June 30, 2025, we repurchased 600,000 shares of our common stock in a private transaction from ValueAct Capital, a former affiliate, at a total cost of $76,118,000 (an average price of $126.86 per share, representing a negotiated 3.95% discount from the closing price of our common stock the day prior to the transaction). During the six months ended June 30, 2026, we repurchased 1,609,837 shares of our common stock on the open market at a total cost of approximately $149,999,795 (an average price of $93.18 per share). During the six months ended June 30, 2025, we repurchased 600,000 shares of our common stock in a private transaction from ValueAct Capital, a former affiliate, at a total cost of $76,118,000 (an average price of $126.86 per share, representing a negotiated 3.95% discount from the closing price of our common stock the day prior to the transaction). All shares repurchased during the six months ended June 30, 2026 and 2025 were retired.
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