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CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in- Capital
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Retained Earnings
Beginning balance (in shares) at Dec. 31, 2021   55,609,226        
Beginning balance at Dec. 31, 2021 $ 265,882 $ 951 $ 259,317 $ (4,574) $ (1,265,032) $ 1,275,220
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 67,391         67,391
Other comprehensive income (loss), net of tax (134)     (134)    
Share-based payment activity (in shares) [1]   262,008        
Share-based payment activity [1] 9,558   6,068   3,486 4
Dividends declared [1] (13,250)         (13,250)
Treasury purchases (in shares)   (100,912)        
Treasury purchases (14,802)       (14,802)  
Ending balance (in shares) at Mar. 31, 2022   55,770,322        
Ending balance at Mar. 31, 2022 $ 314,645 $ 951 265,385 (4,708) (1,276,348) 1,329,365
Beginning balance (in shares) at Dec. 31, 2022 52,200,903 52,200,903        
Beginning balance at Dec. 31, 2022 $ 154,660 $ 951 298,053 (5,211) (1,694,857) 1,555,724
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 52,820         52,820
Other comprehensive income (loss), net of tax 394     394    
Share-based payment activity (in shares) [1]   315,049        
Share-based payment activity [1] 15,396   1,899   13,497 0
Dividends declared [1] (14,709)         (14,709)
Treasury purchases (in shares) [2]   (1,341,520)        
Treasury purchases [2] $ (161,553)       (161,553)  
Ending balance (in shares) at Mar. 31, 2023 51,174,432 51,174,432        
Ending balance at Mar. 31, 2023 $ 47,008 $ 951 $ 299,952 $ (4,817) $ (1,842,913) $ 1,593,835
[1] During the year ended December 31, 2022, the Company declared cash dividends at a quarterly rate of $0.2375 per share of common stock. In March 2023, the Company's board of directors approved a 21% increase in the quarterly cash dividend to $0.2875 per share, effective with the dividend payable on April 18, 2023 to shareholders of record on April 3, 2023. This increase will result in a projected 2023 annual dividend rate of $1.15 per share, subject to future declarations by the board of directors. During certain periods presented, accumulated dividends were paid to certain shareholders upon vesting of performance vested restricted stock units ("PVRSU") which are captured in Share-based payment activity.(2) Beginning January 1, 2023, Treasury purchases include excise tax as imposed by the Inflation Reduction Act of 2022.
[2] Beginning January 1, 2023, Treasury purchases include excise tax as imposed by the Inflation Reduction Act of 2022.