Stockholders' Equity (Notes)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders' Equity

8. Stockholders’ Equity (Deficit)

Repurchase Program

Our Board of Directors (the “Board”) has authorized a program to repurchase shares of our outstanding common stock (“Repurchase Program”). The purchases are to be made from time to time in the open market or directly from stockholders at prevailing market prices based on market conditions or other factors. We repurchased 424,509 shares under the Repurchase Program during 2021. In addition, 291,129 shares were withheld during 2021 to satisfy minimum tax withholding obligations for the vesting of long-term incentive, restricted stock awards and restricted stock units, which are not subject to the Repurchase Program. In 2021, the Board authorized an increase of 1 million shares that may be repurchased under the Repurchase Program. During 2020, we repurchased 1,285,696 shares under the Repurchase Program and 151,332 shares were withheld to satisfy minimum tax withholding obligations for the vesting of long-term incentive and restricted stock awards. At December 31, 2021, we were authorized to repurchase an additional 1,703,628 shares under the Repurchase Program. Shares repurchased under the Repurchase Program are recorded in treasury.

Dividends

The Board declared quarterly dividends as follows:

(amounts per share)	2021			2020
First quarter	$	0.40		$	0.40
Second quarter	0.45			0.40
Third quarter	0.45			0.40
Fourth quarter	2.45		(1)	0.40

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(1)Includes a $2.00 per share special dividend.

During 2021 and 2020, we paid a total of $144.2 million and $61.9 million, respectively, in dividends. The dividends paid in 2021, includes a special dividend of $76.7 million.

Preferred Stock

At December 31, 2021, 20 million shares of preferred stock were authorized.