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Stock-Based Compensation and Equity (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Stock-Based Compensation Expense

The following table details total stock-based compensation expense for the years ended December 31, 2022, 2021 and 2020, included in the consolidated statements of operations:

(In thousands)			2022						2021						2020
Costs of sales			$	809					$	990					$	1,474
Operating expenses			4,364						4,467						5,531
Pre-tax stock-based compensation expense			5,173						5,457						7,005
Less: income tax effect			(1,086)						(1,146)						(1,471)
Net (after tax) stock-based compensation expense			$	4,087					$	4,311					$	5,534

Restricted stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Activity Under Restricted Stock Plans

A summary of restricted stock activity (including shares of restricted stock issued pursuant to the settlement of performance share awards) under the Plan during the years ended December 31, 2022, 2021 and 2020 is as follows:

			Shares						Weighted-Average Grant-Date Fair Value
Unvested stock outstanding at January 1, 2020			525,859						$	30.51
Granted			136,771						26.16
Performance share awards converted to restricted stock			19,678						30.15
Vested			(268,067)						30.80
Forfeited			(1,274)						26.16
Unvested stock outstanding at December 31, 2020			412,967						$	28.87
Granted			153,700						31.22
Vested			(245,455)						29.16
Forfeited			(6,329)						29.10
Unvested stock outstanding at December 31, 2021			314,883						$	29.79
Granted			161,375						34.22
Vested			(181,405)						29.79
Forfeited			(13,692)						31.66
Unvested stock outstanding at December 31, 2022			281,161						$	32.24

Performance shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Activity Under Restricted Stock Plans

A summary of performance share award activity under the Plan for the years ended December 31, 2022, 2021 and 2020, is as follows, based on the target award amounts set forth in the performance share award agreements:

			Shares						Weighted-Average Grant-Date Fair Value
Performance share awards outstanding at January 1, 2020			200,709						$	30.75
Granted			107,298						26.96
Forfeited or unearned			(35,477)						30.15
Performance share awards converted to restricted stock			(19,678)						30.15
Performance share awards outstanding at December 31, 2020			252,852						$	29.27
Granted			93,444						31.26
Forfeited or unearned			(20,373)						29.92
Performance share awards converted to restricted stock			(75,971)						30.50
Performance share awards outstanding at December 31, 2021			249,952						$	29.59
Granted			101,799						37.98
Forfeited or unearned			(72,059)						32.74
Vested and issued			(27,317)						31.75
Performance share awards outstanding at December 31, 2022			252,375						$	31.84

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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