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SHAREHOLDERS’ EQUITY (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule of Share Repurchase Activity
Total share repurchase activity during the years ended December 31, 2022, 2021 and 2020 is as follows:
Year Ended December 31,
(in thousands, except share and per share data)
2022(1)
20212020
Number of common shares repurchased6,621,841 2,188,532 1,812,393 
Total cost$153,366 $87,024 $33,292 
Average cost per share, including commissions$23.16 $39.76 $18.37 
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(1)    Includes 4.7 million shares repurchased from the Company’s modified Dutch auction tender offer completed July 27, 2022 at a price of $22.00 per share for an aggregate purchase price of $103.3 million.
Schedule of Outstanding Warrants, Options, and Contingent Shares The Company issued warrants, options and other contingent consideration in acquisitions and strategic partnerships that are expected to result in the issuance of common shares in future periods resulting from the exercise of warrants and options or the achievement of certain performance targets. These incremental shares are summarized below:
Sinclair Penny Warrants (Note 13)
7,911,724
Sinclair Performance Warrants (Note 13)
3,279,337
Sinclair Options(1) (Note 13)
1,639,669
MKF Penny warrants (Note 11)
34,455
MKF Contingent shares (Note 11)
344,625
Telescope Contingent shares (Note 11)
8,626
SportCaller contingent shares(4) (Note 11)
357,735
Outstanding awards under Equity Incentive Plans (Note 16)
716,460
14,292,631
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(1)    Consists of four equal tranches to purchase shares with exercise prices ranging from $30.00 to $45.00 per share, exercisable over a seven-year period beginning on the fourth anniversary of the November 18, 2020 closing of the Sinclair Agreement.
(2)    The contingent consideration related to the SportCaller acquisition is 6.5M EUR as of December 31, 2022, payable in shares subject to certain post-acquisition earnout targets and based on share price at time of payment. For purposes of this estimate, the Company used the EUR>US Dollar conversion rate of 1.0666 as of December 31, 2022 and the closing share price of Company common shares of $19.38 per share to calculate the shares expected to be issued if all earn-out targets are met.
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table reflects the change in accumulated other comprehensive loss by component, net of tax, for the years ended December 31, 2022, 2021 and 2020:
(in thousands)Foreign Currency Translation AdjustmentsDefined Benefit Pension PlanTotal
Accumulated other comprehensive loss at December 31, 2019$— $(1,888)$(1,888)
Current period other comprehensive loss— (1,256)(1,256)
Accumulated other comprehensive loss at December 31, 2020— (3,144)(3,144)
Current period other comprehensive income (loss)(25,833)2,064 (23,769)
Reclassification adjustments to net earnings— 104 104 
Accumulated other comprehensive loss at December 31, 2021(25,833)(976)(26,809)
Current period other comprehensive income (loss)(270,151)1,320 (268,831)
Accumulated other comprehensive income (loss) at December 31, 2022$(295,984)$344 $(295,640)