XML 36 R23.htm IDEA: XBRL DOCUMENT v3.22.4
Common Stock
 12 Months Ended
Dec. 31, 2022
Stockholders' Equity Note [Abstract]  
Common Stock COMMON STOCK
As of December 31, 2022 and 2021, there were 47,666,725 and 53,299,738 shares of our common stock outstanding, respectively.
We have paid quarterly dividends since October 25, 2011. We currently pay a regular quarterly dividend of $0.15 per share. Subsequent to December 31, 2022, our Board of Directors (the “Board”) announced its intention to increase the regular quarterly dividend to $0.18 per share commencing with the dividend to be paid in April 2023.
In September 2011, the Board authorized a share repurchase program allowing us to begin repurchasing shares of our outstanding common stock. Subsequently, the Board has from time to time increased the amount authorized for repurchases under such program. Since the inception of the repurchase program, the Board has authorized us to repurchase up to $2.15 billion of our outstanding common stock. During the year ended December 31, 2022, we repurchased approximately 5.8 million shares of our common stock for approximately $660.6 million. Since the inception of the repurchase program through December 31, 2022, we have repurchased approximately 25.0 million shares of our common stock for approximately $1.76 billion. As of December 31, 2022, there remained authorization for us to repurchase approximately $389.8 million of our shares. The repurchase program has no expiration date, does not obligate the Company to acquire any particular amount of common stock, and may be suspended, recommenced, or discontinued at any time or from time to time without prior notice. We may repurchase our shares from time to time to the extent permitted by securities laws and other legal requirements, including provisions in our 2020 Credit Agreement placing limitations on such repurchases.