SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Authorized Shares

The Company has the authority to issue 65,000,000, $.10 par value common shares.

The Company also has the authority to issue 100,000 preference shares with no par value and 5,000,000 preferred shares with no par value. No preference or preferred shares have been issued.

Share Repurchases

During 2022, 2021, and 2020, pursuant to a stock repurchase program authorized by the Company’s Board of Directors, the Company repurchased and retired the following amounts and number of shares:

(In millions, except share amounts)	2022		2021		2020
Repurchases	$	36.3	$	15.3	$	15.2
Shares	453,207		192,509		322,147

The Company retired shares in the amount of 63,133, 126,332, and 79,663 in 2022, 2021, and 2020, respectively, that were received from employees as payment for the exercise price of their stock options and taxes owed upon the exercise of their stock options and release of their restricted awards. The Company also retired shares in the amount of 16,839, 2,511, and 22,438, in 2022, 2021, and 2020, respectively that had been previously granted as stock awards to employees but were forfeited upon not meeting the required restriction criteria or termination.