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Capital Stock
 12 Months Ended
Dec. 31, 2019
Disclosure Capital Stock Additional Information [Abstract]  
Capital Stock Capital Stock
Preferred Stock - The Company has authorized 100,000 shares of $50 par value 4.5% cumulative preferred nonvoting stock which is callable at $52.50. There are 71,340 shares issued and 52,878 shares held in treasury at December 31, 2019. The Treasury shares at cost line of the Consolidated Balance Sheet includes $1.8 million related to preferred stock. There were no treasury purchases of preferred stock during the years ended December 31, 2019, 2018 or 2017. The Company has also authorized 1,000,000 shares of $10 par value second cumulative preferred voting stock. No shares have been issued as of December 31, 2019 or 2018.
Common Stock - The Company has authorized 180,000,000 shares of no par value common stock. There were 62,081,391 shares issued as of both December 31, 2019 and December 31, 2018. There were 38,841,194 and 38,526,523 shares outstanding at December 31, 2019 and 2018, respectively.
Treasury Shares - The Company's stock repurchase program authorizes up to $100.0 million to repurchase MSA common stock in the open market and in private transactions. The share repurchase program has no expiration date. The maximum number of shares that may be purchased is calculated based on the dollars remaining under the program and the respective month-end closing share price. There were 33,465 shares repurchased during 2019 and 168,941 shares repurchased during 2017. No shares were repurchased during 2018. We do not have any other share repurchase programs. There were 23,240,197 and 23,554,868 Treasury Shares at December 31, 2019 and 2018, respectively.
The Company issues Treasury Shares for all share based benefit plans. Shares are issued from Treasury at the average Treasury Share cost on the date of the transaction. There were 436,549 and 357,510 Treasury Shares issued for these purposes during the years ended December 31, 2019 and 2018, respectively.

Common stock activity is summarized as follows:
 
 
Shares
 
Dollars
(Dollars in thousands)
 
Issued
 
Treasury
 
Common
Stock
 
Treasury
Cost
Balances January 1, 2017
 
62,081,391

 
(24,344,813
)
 
$
172,681

 
$
(287,501
)
Restricted stock awards
 
—

 
34,798

 
(422
)
 
422

Restricted stock expense
 
—

 
—

 
4,746

 
—

Restricted stock forfeitures
 
—

 
(690
)
 
(49
)
 
(6
)
Stock options exercised
 
—

 
620,646

 
10,901

 
7,564

Stock option expense
 


 
—

 
380

 
—

Performance stock issued
 
—

 
72,504

 
(866
)
 
866

Performance stock expense
 
—

 
—

 
6,687

 
—

Employee stock purchase plan
 
—

 
7,127

 
445

 
87

Treasury shares purchased for stock compensation programs
 
—

 
(79,094
)
 
—

 
(5,732
)
Share repurchase program
 
—

 
(168,941
)
 
—

 
(11,781
)
Acquisition of noncontrolling interest
 
—

 
—

 
450

 
—

Balances December 31, 2017
 
62,081,391

 
(23,858,463
)
 
$
194,953

 
$
(296,081
)
Restricted stock awards
 
—

 
92,401

 
(1,079
)
 
1,079

Restricted stock expense
 
—

 
—

 
6,504

 
—

Restricted stock forfeitures
 
—

 
—

 
(283
)
 
—

Stock options exercised
 
—

 
215,724

 
5,738

 
2,835

Stock option expense
 
—

 
—

 
272

 
—

Stock option forfeitures
 
—

 
—

 
(55
)
 
—

Performance stock issued
 
—

 
41,660

 
(523
)
 
523

Performance stock expense
 
—

 
—

 
6,186

 
—

Performance stock forfeitures
 
—

 
—

 
(385
)
 
—

Employee stock purchase plan
 
—

 
7,725

 
478

 
78

Treasury shares purchased for stock compensation programs
 
—

 
(53,915
)
 
—

 
(4,824
)
Balances December 31, 2018
 
62,081,391

 
(23,554,868
)
 
$
211,806

 
$
(296,390
)
Restricted stock awards
 
—

 
96,893

 
(1,253
)
 
1,253

Restricted stock expense
 
—

 
—

 
7,397

 
—

Restricted stock forfeitures
 
—

 
—

 
(483
)
 
—

Stock options exercised
 
—

 
193,681

 
5,107

 
2,364

Stock option expense
 
—

 
—

 
492

 
—

Stock option forfeitures
 
—

 
—

 
(5
)
 
—

Performance stock issued
 
—

 
139,478

 
(1,778
)
 
1,778

Performance stock expense
 
—

 
—

 
6,574

 
—

Performance stock forfeitures
 
—

 
—

 
(215
)
 
—

Stock consideration in acquisition (Note 13)
 
—

 
—

 
921

 
—

Employee stock purchase plan
 
—

 
5,895

 
564

 
77

Treasury shares purchased for stock compensation programs
 
—

 
(87,811
)
 
—

 
(9,301
)
Share repurchase program
 
—

 
(33,465
)
 
—

 
(3,347
)
Balances December 31, 2019
 
62,081,391

 
(23,240,197
)
 
$
229,127

 
$
(303,566
)