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Shareholders' Equity | 12 Months Ended
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Dec. 31, 2018
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Equity The Company has three classes of common stock as follows (share data in millions):
|  |  | Issued Common Stock
| Authorized Shares |  | Outstanding |  | Treasury |  | Total Issued Shares
Class A stock ($0.025 par value) | 80.0 |  |  |  |  |  |  |
December 31, 2018 |  |  | 38.1 |  |  | 2.2 |  |  | 40.3 |
December 31, 2017 |  |  | 38.2 |  |  | 1.8 |  |  | 40.0 |
December 31, 2016 |  |  | 37.2 |  |  | 2.8 |  |  | 40.0 |
Class B stock ($0.025 par value) | 80.0 |  |  |  |  |  |  |
December 31, 2018 |  |  | 13.5 |  |  | — |  |  | 13.5 |
December 31, 2017 |  |  | 13.8 |  |  | — |  |  | 13.8 |
December 31, 2016 |  |  | 14.2 |  |  | 0.8 |  |  | 15.0 |
Class C stock ($0.025 par value) | 20.0 |  |  |  |  |  |  |
December 31, 2018 |  |  | — |  |  | 0.5 |  |  | 0.5 |
December 31, 2017 |  |  | — |  |  | 0.5 |  |  | 0.5 |
December 31, 2016 |  |  | — |  |  | 0.5 |  |  | 0.5 |
In accordance with the Articles of Incorporation, each class A common share has one vote per share and each class B and class C common share has ten votes per share on all matters voted upon by the Company’s shareholders. Liquidation rights are the same for all three classes of stock. The Company also has 0.5 million shares of $0.01 par value preferred stock authorized, of which none were issued at December 31, 2018, 2017 and 2016. The Company has no present plans to issue any preferred stock. On September 6, 2011, the Company’s Board of Directors authorized a share repurchase program of up to $100.0 million of the Company’s outstanding class A stock. On July 30, 2018, the Company’s Board of Directors discontinued the remainder of the September 6, 2011 share repurchase program and authorized a new share repurchase program of up to $100.0 million of the Company’s outstanding class A common stock. During the year ended December 31, 2018, the Company repurchased 1,871,631 shares of its class A common stock at a weighted average price of $19.59 per share for a total purchase price of $36.7 million. During the year ended December 31, 2017, the Company repurchased 200,605 shares of its class A common stock at a weighted average price of $18.89 per share for a total purchase price of $3.8 million. During the year ended December 31, 2016, the Company repurchased 984,190 shares of its class A common stock at a weighted average price of $8.96 per share for a total purchase price of $8.8 million. As of December 31, 2018, there were $100.0 million of authorized repurchases remaining under the program. On February 16, 2018, the Company’s Board of Directors authorized the issuance of 1,006,061 shares of Company class A common stock from treasury to the Company’s ESOP, at a stock price of $22.18 per share for a total value of $22.3 million. On October 13, 2017, the Company’s Board of Directors authorized the cancellation of 1,027,907 shares of the Company’s class B common stock held in the Company’s treasury and returned the shares to the status of authorized, but unissued shares. In addition, all future acquired shares of the Company’s class B common stock will be immediately canceled and returned to the status of authorized but unissued shares. During the years ended December 31, 2018 and 2017, 284,845 and 136,654 shares of class B common stock, respectively, were converted to class A common stock. The shares of class B common stock were canceled and returned to the status of authorized but unissued shares. In accordance with the Articles of Incorporation, dividends are paid equally for all three classes of common shares. The following table details the dividend activity related to the then outstanding shares of common stock for the years ended December 31, 2018, 2017 and 2016:
| Declaration Date |  | Record Date |  | Payment Date |  | Dividend Amount per Share
2018 |  |  |  |  |  |  |
Q4 Dividend | October 30, 2018 |  | November 19, 2018 |  | December 7, 2018 |  | $ | 0.30 |
Q3 Dividend | July 31, 2018 |  | August 20, 2018 |  | September 7, 2018 |  | 0.30 |
Q2 Dividend | May 1, 2018 |  | May 21, 2018 |  | June 8, 2018 |  | 0.30 |
Q1 Dividend | February 21, 2018 |  | March 19, 2018 |  | March 30, 2018 |  | 0.30 |
2017 |  |  |  |  |  |  |
Q4 Dividend | October 31, 2017 |  | November 20, 2017 |  | December 1, 2017 |  | $ | 0.30 |
Q3 Dividend | August 1, 2017 |  | August 21, 2017 |  | September 1, 2017 |  | 0.30 |
Q2 Dividend | May 1, 2017 |  | May 22, 2017 |  | June 2, 2017 |  | 0.30 |
Q1 Dividend | February 17, 2017 |  | February 27, 2017 |  | March 10, 2017 |  | 0.30 |
2016 |  |  |  |  |  |  |
Q4 Dividend | October 31, 2016 |  | November 28, 2016 |  | December 9, 2016 |  | $ | 0.30 |
Q3 Dividend | August 1, 2016 |  | August 29, 2016 |  | September 9, 2016 |  | 0.30 |
Q2 Dividend | May 3, 2016 |  | June 6, 2016 |  | June 17, 2016 |  | 0.30 |
Q1 Dividend | February 19, 2016 |  | March 7, 2016 |  | March 18, 2016 |  | 0.30 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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