Capital Stock

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Capital Stock

(14) CAPITAL STOCK

We have authorized capital stock of 485.0 million shares which includes 475.0 million shares of common stock and 10.0 million shares of preferred stock. We currently have no preferred stock issued or outstanding. The following is a schedule of changes in the number of common shares outstanding since the beginning of 2021:

	Six months Ended June 30, 2022			Year Ended December 31, 2021
Beginning balance		249,792,908			246,348,092
Restricted stock grants		670,151			1,293,892
Restricted stock units vested		1,827,625			1,493,341
Performance stock units issued		590,940			640,468
Performance stock dividends		1,843			13,966
Treasury shares		(4,598,889	)		3,149
Ending balance		248,284,578			249,792,908

Stock Repurchase Program

In 2019, the board of directors approved a stock purchase program to acquire up to $100.0 million of our outstanding stock. In early 2022, our board authorized an additional repurchase of up to $430.0 million of our outstanding common stock for an aggregate available amount at that time of $500.0 million. Under this program, we may repurchase shares in open market transactions, from time to time, in accordance with applicable SEC rules and federal securities laws. In first six months 2022, we repurchased 5,100,000 shares at an aggregate cost of $146.0 million, including repurchases of $13.1 million (500,000 shares) that were purchased in June 2022 and settled in July 2022. The following is a schedule of the change in treasury shares for the three and six months ended June 30, 2022:

	Three Months Ended June 30, 2022		Six Months Ended June 30, 2022
Beginning balance		10,601,535		10,002,646
Rabbi trust shares distributed/sold		—		(1,111	)
Shares repurchased		4,500,000		5,100,000
Ending balance		15,101,535		15,101,535