Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
During the three months ended March 31, 2025, the Company paid $32.0 million to repurchase shares of common stock under its repurchase program. The remaining authorization for common stock repurchases was $196.5 million as of March 31, 2025, and is available for use through December 31, 2025. A summary of the Company’s share repurchases during the three months ended March 31, 2025 is set forth below:
Period Total number of shares purchased (1)
Average price paid per share Total number of shares purchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be purchased under the plans or programs ($ mil)
January 1 to January 31, 2025 — $ — — $ 228.5
February 1 to February 28, 2025 — — — 228.5
March 1 to March 31, 2025 391,302 81.84 391,302 196.5
Total 391,302 $ 81.84 391,302 $ 196.5
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(1) The Company’s repurchase program was announced on November 3, 2003 for repurchases up to an aggregate amount of $15 million in value of common stock through December 31, 2004. The Board of Directors amended the program on various dates increasing the amount authorized and extending the authorization date. On November 6, 2024, the Board of Directors authorized an extension of the repurchase program through December 31, 2025. The total amount authorized remained $235.0 million (including amounts expended since the program commenced).
Item 3. Defaults Upon Senior Securities
None
Item 4. Mine Safety Disclosures
Not applicable
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