Shareholders' Equity

3 Months Ended

Mar. 31, 2022

Stockholders Equity Note [Abstract]

Shareholders' Equity

Note 4. Shareholders' Equity

The Company has a Discretionary Stock Repurchase Plan approved by the Board of Directors that authorizes management to reduce issued and outstanding common stock down to 160,000 shares. On May 2, 2022, the Board of Directors amended the plan to further authorize repurchases down to 150,000 shares. This authorization has no expiration date. During the three months ended March 31, 2022, there were no shares repurchased, compared to 925 shares at an average price of $92.98 per share during the same period in 2021.   

Accumulated other comprehensive loss consisted entirely of foreign currency translation adjustments, net of related income tax effects, for all the periods presented.

Subsequent to the end of the first quarter of 2022, on May 2, 2022, the Board of Directors declared a semi-annual dividend of $0.67 per share payable on June 15, 2022 to shareholders of record as of June 1, 2022.