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CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
[1]
Common Stock
Additional Paid-in- Capital
Accumulated Other Comprehensive Loss
Treasury Stock
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
[1]
Beginning balance (in shares) at Dec. 31, 2019     55,702,628          
Beginning balance at Dec. 31, 2019 $ (23,511) $ (6,831) $ 951 $ 231,160 $ (4,550) $ (1,219,905) $ 968,833 $ (6,831)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 75,387           75,387  
Other comprehensive income (loss), net of tax (96)       (96)      
Share based payment activity (in shares) [2]     506,953          
Share based payment activity [2] 17,201     2,761   14,877 (437)  
Dividends declared [2] (12,452)           (12,452)  
Treasury purchases (in shares)     (674,027)          
Treasury purchases (55,450)         (55,450)    
Ending balance (in shares) at Dec. 31, 2020     55,535,554          
Ending balance at Dec. 31, 2020 (5,752)   $ 951 233,921 (4,646) (1,260,478) 1,024,500  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 288,957           288,957  
Other comprehensive income (loss), net of tax 72       72      
Share based payment activity (in shares) [2]     185,867          
Share based payment activity [2] 34,215     25,396   8,811 8  
Dividends declared [2] (38,245)           (38,245)  
Treasury purchases (in shares)     (112,195)          
Treasury purchases $ (13,365)         (13,365)    
Ending balance (in shares) at Dec. 31, 2021 55,609,226   55,609,226          
Ending balance at Dec. 31, 2021 $ 265,882   $ 951 259,317 (4,574) (1,265,032) 1,275,220  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 332,152           332,152  
Other comprehensive income (loss), net of tax (637)       (637)      
Share based payment activity (in shares) [2]     294,095          
Share based payment activity [2] 43,677     38,736   4,941    
Dividends declared [2] (51,648)           (51,648)  
Treasury purchases (in shares)     (3,702,418)          
Treasury purchases $ (434,766)         (434,766)    
Ending balance (in shares) at Dec. 31, 2022 52,200,903   52,200,903          
Ending balance at Dec. 31, 2022 $ 154,660   $ 951 $ 298,053 $ (5,211) $ (1,694,857) $ 1,555,724  
[1] Reflects the cumulative effect of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) and subsequent amendments issued thereafter (collectively "Topic 326"), which was adopted on January 1, 2020. Refer to Note 4.
[2] On February 28, 2020, the Company’s Board of Directors declared a quarterly cash dividend of $0.225 per share of common stock payable on April 16, 2020. In April 2020, subsequent to the payment of the dividend and in light of uncertainty resulting from the COVID-19 pandemic, we suspended future, undeclared dividends. In May 2021, the Company resumed payment of quarterly dividends, subject to future declarations by the Company's Board of Directors, and declared a quarterly cash dividend of $0.225 per share of common stock. On December 6, 2021, the Company's Board of Directors approved a 6% increase in the quarterly cash dividend and declared a quarterly cash dividend of $0.2375 per share of common stock. During the year ended December 31, 2022, the Company declared cash dividends at a quarterly rate of $0.2375 per share of common stock. During certain periods presented, accumulated dividends were paid to certain shareholders upon vesting of certain performance vested restricted stock units ("PVRSU") which are captured in Share-based payment activity.