Stockholders' Equity |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Equity [Abstract] | |
| Stockholders' Equity | Stockholders’ Equity On August 6, 2020, the Company’s Board of Directors (the “Board”) approved a program authorizing the repurchase of up to ten million shares of the Company’s common stock through August 6, 2025 (the “2020 Program”). The Company entered into certain Rule 10b5-1 trading plans to execute repurchases under the 2020 Program. On August 2, 2024, the Board authorized (i) an increase in its 2020 Program pursuant to which the Company may purchase up to an additional five million shares of the Company’s common stock (the “Additional Authorization”) and (ii) an extension of the expiration date of the share repurchase program from August 6, 2025 to August 2, 2029. As a result of the Additional Authorization, the aggregate number of shares of the Company’s common stock authorized for repurchase under the 2020 Program increased from up to ten million to up to 15 million shares of the Company’s common stock. On February 22, 2026, the Board authorized (i) an increase in its 2020 Program pursuant to which the Company may purchase up to an additional ten million shares of the Company’s common stock and (ii) an extension of the expiration date of the share repurchase program from August 2, 2029 to February 22, 2036 (“Amended Stock Repurchase Program”). As a result of the Amended Stock Repurchase Program, the aggregate number of shares of the Company’s common stock under the 2020 Program increased from up to 15 million shares to up to 25 million shares of the Company’s common stock. During the three and nine months ended September 30, 2026, the Company repurchased 1,700,867 and 5,514,740 shares under the 2020 Program at an aggregate cost of approximately $91.9 million and $260.5 million (including excise tax), respectively. During the three and nine months ended September 30, 2025, the Company repurchased 1,176,559 and 3,011,405 shares under the 2020 Program at an aggregate cost of approximately $43.7 million and $109.9 million, (including excise tax), respectively. Cumulatively as of September 30, 2026, 19,031,713 shares were repurchased under the 2020 Program, at an aggregate cost of $1,015.8 million (including excise tax). As a result of the repurchases, the number of shares of the Company’s common stock available for repurchase as of September 30, 2026 was 5,968,287 shares. Periodically, participants in the Company’s stock plans surrender to the Company shares of stock to pay the exercise price or to satisfy tax withholding obligations arising upon the vesting of restricted stock. During the three months ended September 30, 2026 and 2025, the Company purchased and retired 1,926 and 926 shares, respectively, at an aggregate cost of $0.1 million and less than $0.1 million, respectively, from plan participants for this purpose. During the nine months ended September 30, 2026 and 2025, the Company purchased and retired 166,688 and 107,809 shares, respectively, at an aggregate cost of $7.1 million and $4.5 million, respectively, from plan participants for this purpose.
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