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SHAREHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
COMMON SHARES ISSUED AND OUTSTANDING
The following table presents changes in common shares issued and outstanding:
 
 
 
 
 
 
 
 
 
Year ended December 31,
2019
 
2018
 
2017
 
 
 
 
 
 
 
 
 
 
Shares issued, balance at beginning of year
176,580

 
176,580

 
176,580

 
 
Shares issued

 

 

 
 
Total shares issued at end of year
176,580

 
176,580

 
176,580

 
 
 
 
 
 
 
 
 
 
Treasury shares, balance at beginning of year
(92,994
)
 
(93,419
)
 
(90,139
)
 
 
Shares repurchased
(176
)
 
(200
)
 
(4,288
)
 
 
Shares reissued
549

 
625

 
1,008

 
 
Total treasury shares at end of year
(92,621
)
 
(92,994
)
 
(93,419
)
 
 
 
 
 
 
 
 
 
 
Total shares outstanding
83,959

 
83,586

 
83,161

 
 
 
 
 
 
 
 
 

SHARE REPURCHASES
The following table presents common shares repurchased from shares held in Treasury:
 
 
 
 
 
 
 
 
 
Year ended December 31,
2019
 
2018
 
2017
 
 
 
 
 
 
 
 
 
 
In the open market:
 
 
 
 
 
 
 
Total shares

 

 
3,932

 
 
Total cost
$

 
$

 
$
261,180

 
 
Average price per share(1)
$

 
$

 
$
66.43

 
 
 
 
 
 
 
 
 
 
From employees:(2)
 
 
 
 
 
 
 
Total shares
176

 
200

 
356

 
 
Total cost
$
10,165

 
$
10,080

 
$
24,678

 
 
Average price per share(1)
$
57.66

 
$
50.40

 
$
69.36

 
 
 
 
 
 
 
 
 
 
Total shares repurchased:
 
 
 
 
 
 
 
Total shares
176

 
200

 
4,288

 
 
Total cost
$
10,165

 
$
10,080

 
$
285,858

 
 
Average price per share(1)
$
57.66

 
$
50.40

 
$
66.67

 
 
 
 
 
 
 
 
 
(1)
Calculated using whole numbers.
(2)
Shares are repurchased from employees to satisfy withholding tax liabilities that arise on the vesting of share-settled restricted stock units.

SUMMARY OF DIVIDENDS DECLARED AND PAID
The following table presents dividends declared and paid related to the Company's common and preferred shares:
 
 
Per share data
 
 
 
Dividends declared
 
Dividends paid in year of declaration
 
Dividends paid in year following declaration
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2017
 
 
 
 
 
 
 
  Common shares
$
1.53

 
$
1.14

 
$
0.39

 
 
  Series C preferred shares
$
0.43

 
$
0.43

 
$

 
 
  Series D preferred shares
$
1.38

 
$
1.03

 
$
0.34

 
 
  Series E preferred shares
$
137.50

 
$
103.13

 
$
34.38

 
 
Year ended December 31, 2018
 
 
 
 
 
 
 
  Common shares
$
1.57

 
$
1.17

 
$
0.40

 
 
  Series D preferred shares
$
1.38

 
$
1.03

 
$
0.34

 
 
  Series E preferred shares
$
137.50

 
$
103.13

 
$
34.38

 
 
Year ended December 31, 2019
 
 
 
 
 
 
 
  Common shares
$
1.61

 
$
1.20

 
$
0.41

 
 
  Series D preferred shares
$
1.21

 
$
1.03

 
$
0.18

 
 
  Series E preferred shares
$
137.50

 
$
103.13

 
$
34.38