CAPITAL STOCK

12 Months Ended

Dec. 31, 2022

The Company had no shares of preferred stock outstanding as of December 31, 2022 and 2021. The activity related to outstanding common stock and common stock held in treasury was as follows:


	2022		2021		2020
	Outstanding Common Stock	Treasury Stock	Outstanding Common Stock	Treasury Stock	Outstanding Common Stock	Treasury Stock
Balance at beginning of period	51,220,205	58,439,014	52,524,391	57,134,828	53,687,528	55,971,691
Exercise of stock options	101,802	(101,802)	188,444	(188,444)	311,374	(311,374)
Settlement of restricted stock units – net of 31,132, 61,377 and 41,019 shares retained, respectively	64,649	(64,649)	127,969	(127,969)	82,241	(82,241)
Settlement of performance share units – net of 10,359, 9,746 and 16,830 shares retained, respectively	13,890	(13,890)	12,507	(12,507)	28,098	(28,098)
Purchase of treasury shares	(1,144,223)	1,144,223	(1,633,106)	1,633,106	(1,584,850)	1,584,850
Balance at end of period	50,256,323	59,402,896	51,220,205	58,439,014	52,524,391	57,134,828