XML 31 R21.htm IDEA: XBRL DOCUMENT v3.22.2
Stockholders' Equity
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
As of June 30, 2022 we had income of $28.0 million in accumulated other comprehensive income (loss) on our Condensed Consolidated Balance Sheets, comprised of the effective portion of the unrealized gain on our current interest rate swap of 36.7 million, net of taxes, less the unrealized loss on our terminated interest rate swaps of $(8.7) million, net of taxes. As of December 31, 2021 we had a loss of $(0.2) million in accumulated other comprehensive income (loss) on our Condensed Consolidated Balance Sheets, comprised of the unrealized loss on our terminated interest rate swaps of $(9.9) million, net of taxes, less the effective portion of the unrealized gain on our interest rate swaps of $9.7 million, net of taxes. For additional information, see Note 11, Derivatives and Hedging Activities.
During the three months ended June 30, 2022 we repurchased approximately 554 thousand shares of our common stock with an aggregate price of approximately $49.8 million, or $89.94 average price per share. During the six months ended June 30, 2022
we repurchased approximately 1.1 million shares of our common stock with an aggregate price of approximately $99.7 million, or $93.59 average price per share. We did not repurchase any shares during the six months ended June 30, 2021. On February 24, 2022, we announced that our board of directors authorized an extension of our previous stock repurchase program through March 1, 2023 and concurrently authorized an increase in the total amount of our outstanding common stock we can purchase up to $200.0 million. As of June 30, 2022, we had $100.3 million remaining on our previous stock repurchase program. On August 4, 2022, we announced that our board of directors authorized a new stock repurchase program which replaces our previous program. See Note 19, Subsequent Events, for more information. The effect of these treasury shares in reducing the number of common shares outstanding is reflected in our earnings per share calculation.
Dividends
During the six months ended June 30, 2022, we declared and paid the following cash dividends (amount declared and amount paid in thousands):
Declaration DateRecord DatePayment DateDividend Per ShareAmount DeclaredAmount Paid
2/24/20223/15/20223/31/2022$0.90 $26,585 $26,242 
2/24/20223/15/20223/31/20220.315 9,305 9,184 
5/5/20226/15/20226/30/20220.315 9,054 8,982 
During the six months ended June 30, 2021, we declared and paid the following cash dividends (amount declared and amount paid in thousands):
Declaration DateRecord DatePayment DateDividend Per ShareAmount DeclaredAmount Paid
2/23/20213/15/20213/31/2021$0.30 $8,907 $8,786 
5/5/20216/15/20216/30/20210.30 8,910 8,821 
The amount of dividends declared may vary from the amount of dividends paid in a period due to the vesting of restricted stock awards and performance share awards, which accrue dividend equivalent rights that are paid when the award vests. During the three and six months ended June 30, 2022, we also paid $0.5 million in accrued dividends not included in the table above related to the vesting of these awards. The payment of future dividends will be at the discretion of our board of directors and will depend on our future earnings, capital requirements, financial condition, future prospects, results of operations, contractual restrictions, legal requirements, and other factors deemed relevant by our board of directors.