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Stock Repurchase Program
12 Months Ended
Dec. 31, 2021
Stock Repurchase Program [Abstract]  
Stock Repurchase Program

Note 13 – Stock Repurchase Program

 

On July 24, 2002, the Company commenced a stock repurchase program to acquire up to $300 of its outstanding common stock (the “2002 Program”). The stock repurchase was funded by a combination of the Company’s cash on hand and borrowings against its revolving line of credit. On February 13, 2007, the Company announced a new stock repurchase program to acquire up to an additional 100 shares of its outstanding common stock (the “2007 Program”). As of December 31, 2021, the Company can purchase up to $72 of its common stock under the 2002 Program and up to 100 shares of its common stock under the 2007 Program. The Company may, in its discretion, continue making purchases under the 2002 Program up to its limits, and thereafter to make purchases under the 2007 Program. During 2021 and 2020, the Company did not purchase any of its common stock under the 2002 Program or 2007 Program.