XML 25 R16.htm IDEA: XBRL DOCUMENT v3.23.1
Treasury Stock
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Treasury Stock

Note 9. Treasury Stock

The Company’s Board of Directors initiated a share repurchase program in February 2010. In October 2016, the Board reauthorized this program with a limit of $25.0 million with no expiration date. As of March 31, 2023, $12.6 million was available for future purchases. Repurchases of shares may be made pursuant to pre-established trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934.

During the three months ended March 31, 2023, no shares were purchased. During the three months ended March 31, 2022, 43,893 shares were purchased for $2.1 million, or an average price of $46.90 per share (including commissions).