EQUITY

12 Months Ended

Dec. 31, 2020

EQUITY [Abstract]

EQUITY

NOTE 13: EQUITY

Our capital stock consists solely of common stock, par value $1.00 per share, of which 480,000,000 shares may be issued. Holders of our common stock are entitled to one vote per share. We may also issue 5,000,000 shares of preferred stock, but no shares have been issued. The terms and provisions of such shares will be determined by our Board of Directors upon any issuance of preferred shares in accordance with our Certificate of Incorporation.

There were no shares held in treasury as of December 31, 2020, 2019 and 2018.

Our common stock purchases (all of which were open market purchases) and subsequent retirements for the years ended December 31 are summarized below:

in thousands, except average cost	2020	2019	2018
Shares Purchased and Retired
Number	214	19	1,192
Total purchase price	$        26,132	$        2,602	$    133,983
Average cost per share	$        121.92	$      139.90	$      112.41

As of December 31, 2020, 8,064,851 shares may be purchased under the current authorization of our Board of Directors.

Dividends for the years ended December 31 were as follows:

in thousands, except per share data	2020	2019	2018
Dividends
Cash dividends	$      180,216	$     163,973	$     148,109
Cash dividends per share	$            1.36	$           1.24	$           1.12