Shareholders' Equity

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Shareholders' equity

Shareholders’ equity

We declared quarterly cash dividends totaling $148.1 million, $135.1 million, and $124.4 million in 2021, 2020, and 2019, respectively. Under a share repurchase program authorized by our Board of Directors, we repurchased 17.7 million, 4.5 million, and 8.4 million shares in 2021, 2020, and 2019, respectively, for a total of $897.3 million, $170.7 million, and $274.3 million in 2021, 2020, and 2019, respectively. At December 31, 2021, we had remaining authorization to repurchase $457.6 million of common shares. This share repurchase authorization was increased by $1.0 billion on January 31, 2022.

Under our stock compensation plans, we accept shares as payment under certain conditions related to stock option exercises and vesting of restricted shares and share units, generally related to the payment of tax obligations. During 2021, 2020, and 2019, employees surrendered shares valued at $10.8 million, $14.9 million, and $11.5 million, respectively, under these plans. Such share transactions are excluded from the above noted share repurchase authorization.