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Common Stock | 9 Months Ended
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Sep. 30, 2021
Equity [Abstract] |
Common Stock | Common Stock Dividends The Company declared dividends per common share, including DERs (Note 11), during the periods presented as follows:
|  | Dividends per Common Share |  | Amount (in thousands)
2021: |  |  |  |
Third Quarter |  | $ | 0.165 |  |  | $ | 12,692 |
Second Quarter |  | 0.165 |  |  | 12,768 |
First Quarter |  | 0.165 |  |  | 12,767 |
Total dividends declared in 2021 |  | $ | 0.495 |  |  | $ | 38,227 |
2020: |  |  |  |
Fourth Quarter |  | $ | 0.155 |  |  | $ | 11,983 |
Third Quarter |  | 0.155 |  |  | 11,790 |
Second Quarter |  | 0.155 |  |  | 11,761 |
First Quarter |  | 0.155 |  |  | 11,735 |
Total dividends declared in 2020 |  | $ | 0.620 |  |  | $ | 47,269 |
During the fourth quarter of 2021, the Company's Board of Directors declared a dividend of $0.165 per share of common stock to shareholders of record as of December 3, 2021 and payable on December 17, 2021. Share Repurchase Program As of September 30, 2021, the Board of Directors had authorized the Company to repurchase up to an aggregate of $100.0 million of its issued and outstanding common stock. In March 2021, the Company resumed share repurchases under its share repurchase program, which had been temporarily suspended in April 2020 in light of the COVID-19 pandemic. Share repurchases may be effected from time to time in open market or privately negotiated transactions, including transactions with affiliates, with the timing of purchases and the amount of stock purchased generally determined at the discretion of the Company consistent with the Company's general working capital needs and within the constraints of the Company’s credit agreement. As previously disclosed, in connection with this share repurchase program, the Company entered into an agreement with Magnus Holdings Co., Ltd. (“Magnus”), a wholly-owned subsidiary of Fila Holdings Corp., to purchase from Magnus an equal amount of its common stock as it purchases on the open market, up to an aggregate of $24.9 million, at the same weighted average per share price. As the Company repurchased a cumulative total of $24.9 million of common stock through open market purchases, the determination date, as defined in the Magnus share repurchase agreement, was automatically triggered on March 18, 2021. As a result, on April 2, 2021, the Company repurchased 355,341 shares of common stock for an aggregate of $11.1 million from Magnus, in completion of the Company's previously discussed share repurchase obligations. In relation to the Magnus share repurchase agreement, the Company had recorded a share repurchase liability of $8.8 million for 299,894 shares of common stock to be repurchased from Magnus related to shares repurchased in the open market from the initial determination date up through the time that the Company temporarily suspended its share repurchase program, which was included in accrued expenses and other liabilities and treasury stock on the consolidated balance sheet as of December 31, 2020. The Company's share repurchase activity was as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
(in thousands, except share and per share amounts) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Shares repurchased in the open market: |  |  |  |  |  |  |  |
Shares repurchased |  | 242,420 |  |  | — |  |  | 387,076 |  |  | 243,894 |
Average price |  | $ | 50.58 |  |  | $ | — |  |  | $ | 49.14 |  |  | $ | 28.60 |
Aggregate value |  | $ | 12,261 |  |  | $ | — |  |  | $ | 19,021 |  |  | $ | 6,976 |
Shares repurchased from Magnus: |  |  |  |  |  |  |  |
Shares repurchased |  | — |  |  | — |  |  | 355,341 |  |  | — |
Average price |  | $ | — |  |  | $ | — |  |  | $ | 31.31 |  |  | $ | — |
Aggregate value |  | $ | — |  |  | $ | — |  |  | $ | 11,125 |  |  | $ | — |
Total shares repurchased: |  |  |  |  |  |  |  |
Shares repurchased |  | 242,420 |  |  | — |  |  | 742,417 |  |  | 243,894 |
Average price |  | $ | 50.58 |  |  | $ | — |  |  | $ | 40.61 |  |  | $ | 28.60 |
Aggregate value |  | $ | 12,261 |  |  | $ | — |  |  | $ | 30,146 |  |  | $ | 6,976 |
As of September 30, 2021, the Company had $33.5 million remaining under the current share repurchase authorization. On October 20, 2021, the Board of Directors authorized the Company to repurchase up to an additional $100.0 million of its issued and outstanding common stock, bringing the total authorization up to $200.0 million. This program will remain in effect until completed or until terminated by the Board of Directors.

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- 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&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 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: 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 http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 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 http://asc.fasb.org/extlink&oid=123467817&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 http://asc.fasb.org/extlink&oid=123467817&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 http://asc.fasb.org/extlink&oid=123467817&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 http://asc.fasb.org/extlink&oid=123467817&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 http://asc.fasb.org/extlink&oid=123467817&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 http://asc.fasb.org/extlink&oid=123467817&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 http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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