Capital Stock

12 Months Ended

Dec. 31, 2019

Note 13—Capital Stock

At December 31, 2019, the Company’s authorized capital stock consisted of 300,000,000 shares of $0.01 par value common stock and 15,000,000 shares of $0.01 par value preferred stock.

The changes in common shares outstanding during the three years ended December 31, 2017, December 31, 2018, and December 31, 2019 were as follows:


Common Shares Outstanding at December 31, 2016	119,515,894
Treasury stock purchases	(23,379,567	)
Exercise of stock options	243,775

Common Shares Outstanding at December 31, 2017	96,380,102
Issuance of restricted shares	589,736
Treasury stock purchases	(3,785,658	)
Issuance of shares to directors	13,249
Exercise of stock options	425,505

Common Shares Outstanding at December 31, 2018	93,622,934
Issuance of restricted stock and restricted stock units	564,729
Treasury stock purchases	(15,679	)
Vesting of restricted stock and restricted stock units	74,292
Exercise of stock options	215,300

Common Shares Outstanding at December 31, 2019	94,461,576

During the year ended December 31, 2019, the Company purchased

15,679

treasury shares for

$156

from its employees to cover federal and state and other tax withholdings associated with the vesting of restricted stock and restricted stock units. Additionally, during the year ended December 31, 2018, the Company acquired

3,785,658 treasury shares for $40,197. The shares are included in “common stock held in treasury” in the Company’s consolidated balance sheet.