SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2023

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 2023, 2022, and 2021, 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)	2023		2022		2021
Repurchases	$	32.5	$	36.3	$	15.3
Shares	371,452		453,207		192,509

The Company retired shares in the amount of 101,690, 63,133, and 126,332 in 2023, 2022, and 2021, 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 0, 16,839, and 2,511, in 2023, 2022, and 2021, respectively, that had been previously granted as stock awards to employees but were forfeited upon not meeting the required restriction criteria or termination.