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CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
[2]
Common Stock
Additional Paid-in- Capital
Accumulated Other Comprehensive Loss
Treasury Stock
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
[2]
Beginning balance (in shares) at Dec. 31, 2018     55,679,207          
Beginning balance at Dec. 31, 2018 $ (183,772)   $ 951 $ 213,170 $ (5,446) $ (1,187,625) $ 795,178  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 222,878           222,878  
Other comprehensive income (loss), net of tax 896       896      
Share based payment activity (in shares)     654,694          
Share based payment activity 38,056     19,698   18,358    
Dividends declared (48,609)           (48,609)  
Treasury purchases (in shares)     (631,273)          
Treasury purchases (50,638)         (50,638)    
Other [1] (2,322)     (1,708)     (614)  
Ending balance (in shares) at Dec. 31, 2019     55,702,628          
Ending balance at Dec. 31, 2019 $ (23,511) $ (6,831) $ 951 231,160 (4,550) (1,219,905) 968,833 $ (6,831)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Accounting Standards Update [Extensible List] Accounting Standards Update 2016-13 [Member]              
Net income $ 75,387           75,387  
Other comprehensive income (loss), net of tax (96)       (96)      
Share based payment activity (in shares) [3]     506,953          
Share based payment activity [3] 17,201     2,761   14,877 (437)  
Dividends declared [3] (12,452)           (12,452)  
Treasury purchases (in shares)     (674,027)          
Treasury purchases $ (55,450)         (55,450)    
Ending balance (in shares) at Dec. 31, 2020 55,535,554   55,535,554          
Ending balance at Dec. 31, 2020 $ (5,752)   $ 951 233,921 (4,646) (1,260,478) 1,024,500  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 288,957           288,957  
Other comprehensive income (loss), net of tax 72       72      
Share based payment activity (in shares)     185,867          
Share based payment activity 34,215     25,396   8,811 8  
Dividends declared (38,245)           (38,245)  
Treasury purchases (in shares)     (112,195)          
Treasury purchases $ (13,365)         (13,365)    
Ending balance (in shares) at Dec. 31, 2021 55,609,226   55,609,226          
Ending balance at Dec. 31, 2021 $ 265,882   $ 951 $ 259,317 $ (4,574) $ (1,265,032) $ 1,275,220  
[1] (1) Impacts of i) adoption of Topic 606 related to a foreign affiliate accounted for as an equity method investment on Retained Earnings and ii) transaction resulting in an increase in ownership of a consolidated affiliate on Additional Paid-in-Capital.
[2] (2) Reflects the cumulative effect of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) and subsequent amendments issued thereafter (collectively "Topic 326"), which was adopted on January 1, 2020. Refer to Note 4.
[3] (3) During the fourth quarter of 2019, the Company's board of directors announced a 5% increase to the quarterly dividend rate to $0.225 per share from $0.215 per share, beginning with the dividend payable in the first quarter of 2020. On February 28, 2020, the Company’s board of directors declared a quarterly cash dividend of $0.225 per share of common stock. The dividend was payable on April 16, 2020 to shareholders of record on April 2, 2020. In April 2020, subsequent to the payment of the dividend and in light of uncertainty resulting from the COVID-19 pandemic, we suspended future, undeclared dividends. During 2020 and 2021, accumulated dividends were paid to certain shareholders upon vesting of certain performance vested restricted stock units ("PVRSU") which are captured in Share-based payment activity. On May 7, 2021 and September 9, 2021, the Company's board of directors declared a quarterly cash dividend of $0.225 per share of common stock. On December 6, 2021, the Company's board of directors approved a 6% increase in the quarterly cash dividend and declared a quarterly cash dividend of $0.2375 per share of common stock.