Common Stock and Treasury Stock

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Common Stock and Treasury Stock

Common Stock and Treasury Stock

In 2005, the board approved a stock repurchase program authorizing the Company, as market and business conditions warrant, to acquire its common stock and periodically authorizes additional funds for the program. In December 2021, the board approved the repurchase of the Company's common stock of up to $250.0 million, in place of the remaining purchase amounts previously authorized.

The Company repurchased 3,000,000 shares for $107.4 million under the program for the year ended December 31, 2021. Under the program to date, the Company has repurchased 49,357,495 shares for approximately $719.7 million. As of December 31, 2021, the maximum remaining amount authorized for purchase under the stock repurchase program was $216.3 million.

Subsequent to December 31, 2021, the Company has repurchased additional shares under the repurchase program.

In 2006, the Company began to issue shares of treasury stock upon exercise of stock options, payment of earned performance shares (LTIP performance shares and TSRs), vesting of RSUs, and for issuances of common stock pursuant to the Company’s ESPP. Treasury shares issued by award type are as follows:

	Years Ended December 31,
	2021	2020	2019
Stock options	546,192	1,756,471	854,524
LTIP performance shares	10,457	668,240	—
TSRs	782,588	199,413	—
RSUs	522,618	431,504	259,634
ESPP	120,937	151,542	126,983
Total treasury shares issued	1,982,792	3,207,170	1,241,141