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Stockholders' Equity
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
In 2020, the Company repurchased approximately 55,000 shares of its common stock for $4.7 million in cash under its share repurchase authorization. In 2021, the Company repurchased approximately 113,000 shares of its common stock for $14.7 million in cash under its share repurchase authorization. At December 31, 2021, $469.7 million was available under the Company’s Board of Directors authorization for future share repurchases.
Effective February 11, 2021, the Company’s Board of Directors approved an 11% increase in the quarterly cash dividend on the Company’s common stock to $0.20 per common share from $0.18 per common share.
At December 31, 2021, the Company held 36,137,864 shares in its treasury at a cost of $1,573.0 million, compared with 36,227,061 shares at a cost of $1,565.3 million at December 31, 2020. The number of shares outstanding at December 31, 2021 was 231.7 million shares, compared with 230.5 million shares at December 31, 2020.
Subsequent Event
Effective February 9, 2022, the Company’s Board of Directors approved a 10% increase in the quarterly cash dividend on the Company’s common stock to $0.22 per common share from $0.20 per common share.