Stockholders' Equity

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

As of June 30, 2021 and December 31, 2020, we had losses of $2.3 million and $8.8 million, respectively, in accumulated other comprehensive loss on our Condensed Consolidated Balance Sheets. The loss as of June 30, 2021 represented the unrealized loss on our terminated interest rate swaps of $10.9 million, net of taxes, less the effective portion of the unrealized gain on our forward interest rate swap of $8.6 million, net of taxes. The loss as of December 31, 2020 represented the unrealized loss on our terminated interest rate swaps of $12.2 million, net of taxes, less the effective portion of the unrealized gain on our forward interest rate swap of $3.4 million, net of taxes. For additional information, see Note 10, Derivatives and Hedging Activities.

During the six months ended June 30, 2020, we repurchased approximately 443 thousand shares of our common stock with an aggregate price of approximately $15.8 million, or $35.59 average price per share. We did not repurchase any shares during the six months ended June 30, 2021. On February 22, 2021, our board of directors authorized an extension of our stock repurchase

program through March 1, 2022 and concurrently authorized an increase in the total amount of our outstanding common stock we can purchase up to $100.0 million. As of June 30, 2021, we have $100.0 million remaining on our current stock repurchase program. The effect of these treasury shares in reducing the number of common shares outstanding is reflected in our earnings per share calculation.

Dividends

During the six months ended June 30, 2021, we declared and paid the following cash dividends (amount declared and amount paid in thousands):

Declaration Date	Record Date	Payment Date	Dividend Per Share		Amount Declared		Amount Paid
2/23/2021	3/15/2021	3/31/2021	$	0.30	$	8,907	$	8,786
5/5/2021	6/15/2021	6/30/2021	$	0.30	$	8,910	$	8,821

The amount of dividends declared may vary from the amount of dividends paid in a period due to the vesting of restricted stock awards and performance share awards, which accrue dividend equivalent rights that are paid when the award vests. The payment of future dividends will be at the discretion of our board of directors and will depend on our future earnings, capital requirements, financial condition, future prospects, results of operations, contractual restrictions, legal requirements, and other factors deemed relevant by our board of directors. We did not declare or pay any cash dividends on our capital stock during the three or six months ended June 30, 2020.