COMMON STOCK AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2020

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Summary of Share Transactions

The following table summarizes the share transactions for the three years ended December 31, 2020 (in thousands, except for share data):

	Shares Issued		Shares in Treasury
Balance January 1, 2018		55,056,730		(5,161,740	)
Accelerated Share Repurchase Program		—		(780,321	)
Purchase of Treasury Stock		—		(401,038	)
Sale of Treasury Stock		—		14,631
Issued for stock options and restricted stock		—		388,960
Balance December 31, 2018		55,056,730		(5,939,508	)
Purchase of Treasury Stock		—		(124,109	)
Sale of Treasury Stock		—		12,968
Issued for stock options and restricted stock		—		91,525
Balance December 31, 2019		55,056,730		(5,959,124	)
Accelerated Share Repurchase Program		—		(653,498	)
Purchase of Treasury Stock		—		(563,830	)
Sale of Treasury Stock		—		11,372
Issued for stock options and restricted stock		—		114,736
Balance December 31, 2020		55,056,730		(7,050,344	)

Shares Used in Calculation of Basic and Diluted Earnings

The shares used in the calculation of basic and diluted earnings per share, are shown below:

	For the Years Ended December 31,
	2020		2019		2018
Weighted average basic common shares outstanding		48,137,791		48,779,263		49,334,937
Dilutive effect of stock options and restricted stock		205,959		310,614		435,800
Weighted average diluted common shares outstanding		48,343,750		49,089,877		49,770,737