XML 69 R16.htm IDEA: XBRL DOCUMENT
v3.22.4

Capital Stock | 12 Months Ended
--- | ---
Dec. 31, 2022
Equity [Abstract] |
Capital Stock | Capital Stock Preferred Stock - The Company has authorized 100,000 shares of $50 par value 4.5% cumulative preferred nonvoting stock which is callable at $52.50. There were 71,340 shares issued and 52,998 shares held in treasury at both December 31, 2022 and 2021. The Treasury shares at cost line of the Consolidated Balance Sheets includes $1.8 million related to preferred stock. There were no shares of preferred stock purchased and subsequently held in treasury during the years ended December 31, 2022, or 2021. The Company has also authorized 1,000,000 shares of $10 par value second cumulative preferred voting stock. No shares have been issued as of December 31, 2022 or 2021. Common Stock - The Company has authorized 180,000,000 shares of no par value common stock. There were 62,081,391 shares issued as of December 31, 2022 and December 31, 2021. There were 39,213,064 and 39,276,518 shares outstanding at December 31, 2022 and 2021, respectively. Treasury Shares - The Company's stock repurchase program authorizes up to $100.0 million to repurchase MSA common stock in the open market and in private transactions. The share repurchase program has no expiration date. The maximum number of shares that may be purchased is calculated based on the dollars remaining under the program and the respective month-end closing share price. Under the program, there were 251,408 shares repurchased during 2022, no shares repurchased during 2021 and 175,000 shares repurchased during 2020. We do not have any other share repurchase programs. There were 22,868,327 and 22,804,873 Treasury shares at December 31, 2022 and 2021, respectively. The Company issues Treasury shares for all stock based benefit plans. Shares are issued from Treasury at the average Treasury share cost on the date of the transaction. There were 219,214 and 246,376 Treasury shares issued for these purposes during the years ended December 31, 2022 and 2021, respectively. Common stock activity is summarized as follows:
|  | Shares |  | Dollars |  |
(Dollars in thousands) |  | Issued |  | Treasury |  | Common Stock |  | Treasury Cost |  |
Balance at January 1, 2020 |  | 62,081,391 |  |  | (23,240,197) |  |  | $ | 229,127 |  |  | $ | (303,566) |  |  |
Restricted stock awards |  | — |  |  | 55,691 |  |  | (773) |  |  | 773 |  |  |
Restricted stock expense |  | — |  |  | — |  |  | 7,065 |  |  | — |  |  |
Restricted stock forfeitures |  | — |  |  | — |  |  | (807) |  |  | — |  |  |
Stock options exercised |  | — |  |  | 274,672 |  |  | 8,590 |  |  | 3,856 |  |  |
Stock option expense |  | — |  |  | — |  |  | 153 |  |  | — |  |  |
Stock option forfeitures |  | — |  |  | — |  |  | (40) |  |  | — |  |  |
Performance stock issued |  | — |  |  | 134,824 |  |  | (1,826) |  |  | 1,826 |  |  |
Performance stock expense |  | — |  |  | — |  |  | 1,305 |  |  | — |  |  |
Performance stock forfeitures |  | — |  |  | — |  |  | (755) |  |  | — |  |  |
Employee stock purchase plan |  | — |  |  | 6,494 |  |  | 654 |  |  | 93 |  |  |
Treasury shares purchased |  | — |  |  | (69,973) |  |  | — |  |  | (9,025) |  |  |
Share repurchase program |  | — |  |  | (175,000) |  |  | — |  |  | (20,113) |  |  |
Balances December 31, 2020 |  | 62,081,391 |  |  | (23,013,489) |  |  | $ | 242,693 |  |  | $ | (326,156) |  |  |
Restricted stock awards |  | — |  |  | 53,934 |  |  | (762) |  |  | 762 |  |  |
Restricted stock expense |  | — |  |  | — |  |  | 6,562 |  |  | — |  |  |
Restricted stock forfeitures |  | — |  |  | — |  |  | (765) |  |  | — |  |  |
Stock options exercised |  | — |  |  | 122,119 |  |  | 4,003 |  |  | 1,767 |  |  |
Stock option expense |  | — |  |  | — |  |  | 90 |  |  | — |  |  |
Stock option forfeitures |  | — |  |  | — |  |  | (9) |  |  | — |  |  |
Performance stock issued |  | — |  |  | 64,543 |  |  | (939) |  |  | 939 |  |  |
Performance stock expense |  | — |  |  | — |  |  | 13,227 |  |  | — |  |  |
Employee stock purchase plan |  | — |  |  | 5,730 |  |  | 772 |  |  | 83 |  |  |
Treasury shares purchased |  | — |  |  | (37,710) |  |  | — |  |  | (6,171) |  |  |
Acquisition of noncontrolling interests in consolidated subsidiaries |  | — |  |  | — |  |  | (4,751) |  |  | — |  |  |
Balances December 31, 2021 |  | 62,081,391 |  |  | (22,804,873) |  |  | $ | 260,121 |  |  | $ | (328,776) |  |  |
Restricted stock awards |  | — |  |  | 52,810 |  |  | (711) |  |  | 711 |  |  |
Restricted stock expense |  | — |  |  | — |  |  | 7,715 |  |  | — |  |  |
Restricted stock forfeitures |  | — |  |  | — |  |  | (1,227) |  |  | — |  |  |
Stock options exercised |  | — |  |  | 103,545 |  |  | 3,021 |  |  | 1,629 |  |  |
Stock option expense |  | — |  |  | — |  |  | 49 |  |  | — |  |  |
Performance stock issued |  | — |  |  | 55,447 |  |  | (880) |  |  | 880 |  |  |
Performance stock expense |  | — |  |  | — |  |  | 15,843 |  |  | — |  |  |
Performance stock forfeitures |  | — |  |  | — |  |  | (2,730) |  |  | — |  |  |
Employee stock purchase plan |  | — |  |  | 7,412 |  |  | 779 |  |  | 112 |  |  |
Treasury shares purchased |  | — |  |  | (31,260) |  |  | — |  |  | (4,021) |  |  |
Share repurchase program |  | — |  |  | (251,408) |  |  | — |  |  | (30,373) |  |  |
Balances December 31, 2022 |  | 62,081,391 |  |  | (22,868,327) |  |  | $ | 281,980 |  |  | $ | (359,838) |  |  |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration