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Common and Preferred Stock | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Common and Preferred Stock | Common and Preferred Stock On March 17, 2020, the Company’s Board of Directors approved an increase of $500.0 million in the authorized level of repurchases of common stock. This approval is in addition to the prior repurchase authorizations of the Board of Directors of $300.0 million on December 1, 2015. These authorizations have no expiration date. Repurchases under the program will be funded with future cash flow generation or borrowings available under the Revolving Facility. There were no share repurchases during 2021. During 2020, the Company repurchased a total of 0.9 million shares at a cost of $110.3 million. As of December 31, 2021, the amount of share repurchase authorization remaining was $712.0 million. At December 31, 2021 and 2020, the Company had 150 million shares of authorized common stock, with a par value of $.01 per share, and five million shares of authorized preferred stock, with a par value of $.01 per share. No preferred stock was outstanding at December 31, 2021 or 2020.

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