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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2020
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | STOCKHOLDERS’ EQUITY The following table summarizes information about shares of the Company’s common stock at:
| June 30, |  |  |  | December 31,
(In thousands) | 2020 |  |  |  | 2019
Common stock authorized | 75,000 |  |  |  |  | 75,000 |
Common stock issued | 28,237 |  |  |  |  | 28,133 |
Treasury stock | 3,087 |  |  |  |  | 3,087 |
The following reconciliation details the denominator used in the computation of basic and diluted earnings per share for the periods indicated:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(In thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Weighted average shares outstanding for basic earnings per share | 25,150 |  |  | 25,024 |  |  | 25,108 |  |  | 24,963 |
Common stock equivalents pertaining to stock-based awards | 69 |  |  | 67 |  |  | 69 |  |  | 42 |
Weighted average shares outstanding for diluted earnings per share | 25,219 |  |  | 25,091 |  |  | 25,177 |  |  | 25,005 |
Equity instruments excluded from diluted net earnings per share calculation as the effect would have been anti-dilutive | 110 |  |  | 122 |  |  | 109 |  |  | 122 |
The table below summarizes the regular quarterly dividends declared and paid during the periods ended June 30, 2020 and December 31, 2019:
(In thousands, except per share data) | Per Share |  | Record Date |  | Payment Date |  | Total Paid
First Quarter 2019 | $ | 0.60 |  |  | 03/08/19 |  | 03/22/19 |  | $ | 14,999 |
Second Quarter 2019 | 0.65 |  |  | 06/07/19 |  | 06/21/19 |  | 16,267 |
Third Quarter 2019 | 0.65 |  |  | 09/06/19 |  | 09/20/19 |  | 16,267 |
Fourth Quarter 2019 | 0.65 |  |  | 12/06/19 |  | 12/20/19 |  | 16,280 |
Total 2019 | $ | 2.55 |  |  |  |  |  |  | $ | 63,813 |
First Quarter 2020 | $ | 0.65 |  |  | 03/06/20 |  | 03/20/20 |  | $ | 16,321 |
Second Quarter 2020 | 0.65 |  |  | 06/05/20 |  | 06/19/20 |  | 16,349 |
Total 2020 | $ | 1.30 |  |  |  |  |  |  | $ | 32,670 |
Deferred and Restricted Stock Units The LCI Industries 2018 Omnibus Incentive Plan (“the 2018 Plan”) provides for the grant or issuance of stock units, including those that have deferral periods, such as deferred stock units (“DSUs”), and those with time-based vesting provisions, such as restricted stock units (“RSUs”), to directors, employees, and other eligible persons. Recipients of DSUs and RSUs are entitled to receive shares at the end of a specified vesting or deferral period. Holders of DSUs and RSUs receive dividend equivalents based on dividends granted to holders of the common stock, which dividend equivalents are payable in additional DSUs and RSUs, and are subject to the same vesting criteria as the original grant. DSUs vest (i) ratably over the service period, (ii) at a specified future date, or (iii) for certain officers, based on achievement of specified performance conditions. RSUs vest (i) ratably over the service period or (ii) at a specified future date. In addition, DSUs are issued in lieu of certain cash compensation. Transactions in DSUs and RSUs under the LCI Industries Equity Award and Incentive Plan, as Amended and Restated (“the 2011 Plan”) or the 2018 Plan, as applicable, are summarized as follows:
| Number of Shares |  | Weighted Average Price
Outstanding at December 31, 2019 | 346,148 |  |  | $ | 87.54 |
Issued | 3,214 |  |  | 82.40 |
Granted | 150,104 |  |  | 97.68 |
Dividend equivalents | 5,829 |  |  | 77.72 |
Forfeited | (5,158) |  |  | 92.33 |
Vested | (147,727) |  |  | 87.07 |
Outstanding at June 30, 2020 | 352,410 |  |  | $ | 90.17 |
Stock Awards and Performance Stock Units The 2011 Plan provides for stock awards and the 2018 Plan provides for performance stock units (“PSUs”) that vest at a specific future date based on achievement of specified performance conditions. Transactions in performance-based stock awards and PSUs under the 2011 Plan or the 2018 Plan, as applicable, are summarized as follows:
| Number of Shares |  | Weighted Average Price
Outstanding at December 31, 2019 | 129,128 |  |  | $ | 96.21 |
Granted | 57,333 |  |  | 96.55
Dividend equivalents | 1,809 |  |  | 77.76
Forfeited | (73,581) |  |  | 107.91
Vested | (5,152) |  |  | 100.46
Outstanding at June 30, 2020 | 109,537 |  |  | $ | 87.92 |

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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 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 Reference 2: 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 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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