XML 32 R20.htm IDEA: XBRL DOCUMENT v3.22.4
Stock Repurchase
12 Months Ended
Dec. 31, 2022
Stock Repurchase  
Stock Repurchase

(13) Stock Repurchase

The Company’s Board of Directors has adopted a stock repurchase program which authorizes the Company to repurchase shares of the Company’s common stock in the public market or in private transactions, from time to time, at prevailing prices. The Company’s stock repurchase program authorizes the repurchase of up to $250.0 million of the Company’s common stock commencing on February 5, 2019, of which $139.6 million remained available at December 31, 2022.

During the year ended December 31, 2020, the Company repurchased 0.4 million shares of common stock for approximately $20.0 million at a weighted average price per share of $51.87. The Company did not repurchase any shares of its common stock during 2022 and 2021. Under the terms of the PSP3 Agreement, the Company’s restriction from repurchasing shares of its common stock ended on September 30, 2022.

Additionally, during the years ended December 31, 2022, 2021 and 2020, the Company paid $1.2 million, $1.6 million and $6.2 million, respectively, for a net settlement of the income tax obligation on employee equity awards that vested during the applicable periods.