Capital Stock

12 Months Ended

Dec. 31, 2019

Common Stock

Changes in outstanding common stock were as follows:



(In thousands of shares)	2019	2018	2017
Outstanding, beginning of year	106,363	104,572	99,843
Shares issued for exercise of options	281	603	416
Shares issued for time vested restricted stock (net of forfeitures)	53	1,188	952
Shares issued for acquisition	—	—	3,361
Outstanding, end of year	106,697	106,363	104,572

Outstanding shares of common stock include shares held as treasury stock totaling 16,958,418, 15,530,952 and 15,366,504 as of December 31, 2019, 2018 and 2017, respectively.

Preferred Stock

We are authorized to issue up to 1,000,000 shares of preferred stock, $0.01 par value. There were no outstanding shares of preferred stock as of December 31, 2019, 2018 or 2017.

Treasury Stock

During 2019, 2018 and 2017, we repurchased 381,041, 362,190 and 415,418 shares, respectively, for an aggregate price of $2.7 million, $3.9 million and $3.2 million, respectively, representing employee shares surrendered in lieu of taxes under vesting of restricted stock awards. All of the shares repurchased are held as treasury stock.

During 2019, 2018 and 2017, we reissued 1,491,408, 197,742 and 210,964 shares of treasury stock pursuant to various stock plans.

Repurchase Program

In November 2018, our Board of Directors authorized changes to our securities repurchase program. These changes increased the amount remaining under the repurchase program from $33.5 million to $100 million, available for repurchases of any combination of our common stock and our 2021 Convertible Notes. The repurchase program has no specific term. Repurchases are expected to be funded from operating cash flows, available cash on hand, and borrowings under our ABL Facility. As part of the share repurchase program, our management has been authorized to establish trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934.

During 2019, we repurchased an aggregate of 2,537,833 shares of our common stock under our Board authorized repurchase program for a total cost of $19.0 million. There were no shares repurchased under the program during 2018 or 2017. As of December 31, 2019, we had $81.0 million remaining under the program.