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Shareholders' Equity
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Shareholders' Equity SHAREHOLDERS’ EQUITY
At December 31, 2021, the Company held 25,638,057 shares in its treasury and had the authority to purchase additional shares up to its remaining authorization limit of $560.9 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 repurchase program that permitted the Company to repurchase up to $300.0 million of the Company's outstanding common stock. On November 3, 2021, the Company announced that its Board of Directors had authorized a new $1.0 billion share repurchase program that replaced the previous $300.0 million repurchase program.
On November 4, 2021, the Company commenced a tender offer to purchase for cash up to $425 million in value of the Company's common stock at a price of not less than $44.00 per share and not more than $50.00 per share, less any applicable withholding taxes and without interest. The tender offer expired at the end of the day on December 3, 2021, and the Company subsequently accepted for payment, at a purchase price of $49.00 per share, a total of 8,673,469 shares for an aggregate cost of $425 million, excluding $3.7 million in fees and expenses relating to the tender offer. The shares repurchased through the tender offer were retired by the Company.
In addition to the shares repurchased through the tender offer, the Company repurchased 2,937,709 shares of its common stock during 2021 for $142.4 million. In total, the Company repurchased 11,611,178 shares of its common stock for $567.4 million during the year ended December 31, 2021. The Company did not repurchase any of its common stock in 2020. In 2019, the Company repurchased 1,156,184 shares of its common stock for $69.3 million.
As of February 22, 2022, the Company repurchased an additional 1,278,097 shares of its common stock for $52.0 million, subsequent to December 31, 2021.
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, 2021, the Company had issued approximately 390,000 unvested restricted stock awards that contain voting rights but are not presented as outstanding on the consolidated balance sheets.
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, 2021, no preferred shares have been issued.