v3.26.3
Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Equity Equity
Common Stock
In connection with stock compensation vesting and stock option exercises, the Company issued 853,540 shares of Common Stock during the nine months ended September 30, 2026.
Dividends
In February 2025, the Board of Directors approved a quarterly dividend program. Dividends are subject to declaration by the Board of Directors and requirements of the ABL Facility, the indentures governing the Secured Notes, and Delaware law. In July 2026, the Board of Directors established a dividend committee (the "Dividend Committee") authorized to approve quarterly dividends within parameters approved by the Board of Directors. The Dividend Committee declared a dividend of $0.07 per share for the third quarter of 2026. The Board of Directors declared quarterly dividends of $0.07 per share for the first and second quarters of 2026 and the first, second, and third quarters of 2025.
Stock Repurchase Program
In September 2024, the Board of Directors authorized a share repurchase program pursuant to which the Company may repurchase up to $1.0 billion of its outstanding shares of Common Stock. The stock repurchase program does not obligate the Company to purchase any particular number of shares, and the timing and exact amount of any repurchases will depend on various factors, including market pricing and conditions, business, legal, and other considerations. The Company may repurchase its shares in open-market transactions or through privately negotiated transactions in accordance with federal securities laws, at the Company's discretion. The repurchase program, which has no expiration date, may be increased, suspended, or terminated at any time and remains subject to the discretion of the Board of Directors. The program is expected to be implemented over the course of several years and will be conducted subject to the requirements of the ABL Facility, the indentures governing the Secured Notes, and Delaware law.
During the nine months ended September 30, 2026 and 2025, respectively, the Company repurchased 352,900 and 2,924,846 shares of Common Stock for $7.3 million and $80.2 million, respectively, excluding excise tax. As of September 30, 2026, $717.1 million of the authorization for future repurchases of Common Stock remained available.
Accumulated Other Comprehensive Loss
The changes in accumulated other comprehensive loss ("AOCI"), net of tax, for the nine months ended September 30, 2026 and 2025 were as follows:
Nine Months Ended September 30, 2026
(in thousands)Foreign currency translationUnrealized (losses) gains on hedging activitiesTotal
Balance at December 31, 2025$(66,004)$(3,449)$(69,453)
Other comprehensive (loss) income before reclassifications(3,416)4,813 1,397 
Reclassifications from AOCI to income— (444)(444)
Balance at March 31, 2026(69,420)920 (68,500)
Other comprehensive (loss) income before reclassifications(4,745)3,057 (1,688)
Reclassifications from AOCI to income— (319)(319)
Balance at June 30, 2026(74,165)3,658 (70,507)
Other comprehensive (loss) income before reclassifications(1,226)2,190 964 
Reclassifications from AOCI to income— (468)(468)
Balance at September 30, 2026$(75,391)$5,380 $(70,011)
Nine Months Ended September 30, 2025
(in thousands)Foreign currency translationUnrealized gains (losses) on hedging activitiesTotal
Balance at December 31, 2024$(80,720)$10,093 $(70,627)
Other comprehensive income (loss) before reclassifications161 (5,710)(5,549)
Reclassifications from AOCI to income— (2,431)(2,431)
Balance at March 31, 2025(80,559)1,952 (78,607)
Other comprehensive income (loss) before reclassifications16,278 (1,469)14,809 
Reclassifications from AOCI to income— (2,453)(2,453)
Balance at June 30, 2025(64,281)(1,970)(66,251)
Other comprehensive income (loss) before reclassifications(5,820)1,770 (4,050)
Reclassifications from AOCI to income— (2,482)(2,482)
Balance at September 30, 2025$(70,101)$(2,682)$(72,783)
The Company reclassified amounts from AOCI into the condensed consolidated statements of operations within interest expense related to the interest rate swaps. Associated with these reclassifications, the Company recorded tax expense of $0.1 million and $0.7 million for the three months ended September 30, 2026 and 2025, respectively, and $0.3 million and $2.1 million for the nine months ended September 30, 2026 and 2025, respectively. The interest rate swaps are discussed in Note 9.