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Shareholders' Equity
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Shareholders' Equity SHAREHOLDERS’ EQUITY
At December 31, 2020, the Company held 23,029,434 shares in its treasury and had the authority to purchase additional shares up to its remaining authorization limit of $262.0 million. On February 22, 2021, the Company's Board of Directors terminated the share repurchase program that was in effect as of December 31, 2020 and replaced it with a new repurchase program that will permit the Company to repurchase up to $300.0 million of the Company's outstanding common stock. The holders of common stock are entitled to receive dividends and other distributions in cash or stock of the Company as and when declared by the Company's Board of Directors out of legally available funds. Certain unvested time-based restricted stock awards entitle participants to vote and accrue dividends during the vesting period. As of December 31, 2020, the Company had issued approximately 351,000 unvested restricted stock awards that contain voting rights but are not presented as outstanding on the consolidated balance sheets.
The Company did not repurchase any shares of its common stock in 2020. In 2019, the Company repurchased 1,156,184 shares of its common stock for $69.3 million. In 2018, the Company repurchased 3,749,493 shares of its common stock for $168.7 million.
The Company has 1,000,000 shares of preferred stock authorized. The shares are issuable in series with terms for each series fixed by, and such issuance subject to approval by, the Board of Directors. As of December 31, 2020, no preferred shares have been issued.