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EQUITY AND EPS
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
EQUITY AND EPS EQUITY AND EPSCapital Stock. Common Stockholders are entitled to elect four of the nine members of the Board of Directors, while Preferred Stockholders are entitled to elect the remaining five members. All directors are elected annually for a one year term. Any vacancies on the Board are to be filled only by the shareholders and not by the Board. Shareholders who own 10 percent or more of the outstanding Common or Preferred Stock have the right to call a special meeting of stockholders. Common Stockholders are not entitled to vote with respect to a merger, dissolution, lease, exchange or sale of substantially all of the Company’s assets, or on an amendment to the Articles of Incorporation, unless such action would increase or decrease the authorized shares or par value of the Common or Preferred Stock, or change the powers, preferences or special rights of the Common or Preferred Stock so as to affect the Common Stockholders adversely. Generally, Common Stockholders and Preferred Stockholders vote as separate classes on all other matters requiring shareholder approval.
EPS. The computations of basic and diluted EPS:
Year Ended December 31,
 202220212020
Operations:
Net income(a)
$108,872 $90,817 $40,345 
Net loss attributable to noncontrolling interest590 490 — 
Income attributable to participating securities (unvested shares and units) (b)
(871)(712)(261)
Net income used in EPS calculation$108,591 $90,595 $40,084 
Share information:
Basic weighted average common shares(c)
22,002,990 20,719,663 16,937,125 
Diluted weighted average common shares(d)
22,053,966 20,719,663 16,937,125 
Basic EPS$4.94 $4.37 $2.37 
Diluted EPS$4.92 $4.37 $2.37 
(a)Net income attributable to all shareholders.
(b)Participating securities included 177,398, 163,024, and 110,665 unvested restricted stock units (“RSUs”) for the years ended December 31, 2022, 2021, and 2020, respectively.
(c)Under the two class method, basic weighted average common shares exclude outstanding unvested participating securities.
(d)The impacts of the Convertible Senior Notes were included in the diluted weighted average common shares if the inclusion was dilutive. The Convertible Senior Notes would only have a dilutive impact if the average market price per share during the quarter and year to date period exceeds the conversion price of $96.24 per share. There was no dilutive impact for the years ended December 31, 2021, and 2020.

Share Issuance. On April 1, 2021, as part of the consideration for the Merger, the Company issued 5,007,833 shares of common stock. Additionally, in September 2021, the parties finalized the purchase price adjustments, which increased stock consideration by an additional 1,373 shares from the preliminary amounts that were paid at closing.

Share Repurchase. On February 25, 2019, the Board of Directors approved a $25,000 share repurchase authorization commencing February 27, 2019 through February 27, 2022. Under the share repurchase program, the company can repurchase stock from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. The Company did not repurchase any shares under the share repurchase program during 2022, prior to its expiration on February 27, 2022. The Company did not renew the share repurchase program upon its expiration.
Common Stock Share Activity.
Shares Outstanding
Capital Stock PreferredCommon Stock
Balance, December 31, 2020
43716,915,862 
Issuance of Common Stock— 5,060,339 
Repurchase of Common Stock— (11,887)
Balance, December 31, 2021
43721,964,314 
Issuance of Common Stock— 38,760 
Repurchase of Common Stock— (9,032)
Balance, December 31, 2022
43721,994,042 
Dividends and Dividend Equivalents.
Dividend and Dividend Equivalent Information (per Share and Unit)
Declaration dateRecord datePayment dateDeclaredPaidDividend payment
Dividend equivalent payment(a)(b)
Total payment(b)
2022 
February 22March 11March 25$0.12 $0.12 $2,638 $23 $2,661 
May 5May 20June 30.12 0.12 2,638 23 2,661 
August 4August 19September 20.12 0.12 2,639 23 2,662 
November 3November 18December 20.12 0.12 2,639 23 2,662 
$0.48 $0.48 $10,554 $92 $10,646 
2021
February 23March 12March 26$0.12 $0.12 $2,033 $19 $2,052 
May 3May 21June 40.12 0.12 2,635 20 2,655 
August 2August 20September 30.12 0.12 2,635 20 2,655 
November 1November 19December 30.12 0.12 2,635 20 2,655 
$0.48 $0.48 $9,938 $79 $10,017 
2020
February 24March 13March 27$0.12 $0.12 $2,047 $13 $2,060 
April 28May 22June 50.12 0.12 2,027 14 2,041 
July 28August 21September 40.12 0.12 2,029 14 2,043 
October 27November 20December 40.12 0.12 2,030 14 2,044 
$0.48 $0.48 $8,133 $55 $8,188 
(a) Dividend equivalent payments on unvested participating securities (see Note 11, Employee Benefit Plans).
(b) Includes estimated forfeitures.