Stockholders' Equity

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Attributable to Parent [Abstract]

Treasury Stock

Stockholders' Equity

Stock Repurchase Programs

On July 21, 2021, the Board of Directors authorized a new share repurchase program for repurchases of up to $50.0 million of the Company's common stock from July 27, 2021 through December 31, 2022 (the 2021 Program). The 2021 Program replaces the 2018 Program, which expired on June 30, 2021. The 2021 Program provides that shares may be purchased at prevailing market prices through a variety of methods, including open market or private transactions, in accordance with applicable laws and regulations and as determined by management. The timing and actual number of shares that may be repurchased will depend on a variety of factors, including the share price, corporate and regulatory requirements, and other market and economic conditions. Repurchases under the 2021 Program may be commenced, modified, or suspended from time-to-time without prior notice, and the program may be suspended or discontinued at any time. Through December 31, 2021, the Company has repurchased a total of 550,964 shares of common stock at an average price of $40.17 per share, including commissions, for a total of $22.1 million under the 2021 Program. Prior to the commencement of the 2021 Program, the Company repurchased a total of 5,300,535 shares of common stock at an average price of $36.14 per share, including commissions for a total of $191.5 million under the 2018 Program.

Since the Company's initial public offering in January 2007 through December 31, 2021, the Company has repurchased a total of 29,948,854 shares of common stock at an average cost per share of $19.94 through various stock repurchase programs, which is reported as treasury stock, at cost, on its Consolidated Balance Sheets.