STOCK REPURCHASE PROGRAMS

12 Months Ended

Dec. 31, 2021

In March 2020, the Company's Board of Directors ("the Board") approved an increase in the amount of the Company's common stock that may be acquired over 24 months under the current stock repurchase program to $50.0 million, including amounts remaining under previous authorizations. In August 2021, the Board approved a new stock repurchase program for up to $50.0 million of its common stock, including amounts remaining under previous authorizations. Approximately $22.6 million of common stock repurchases remains available at December 31, 2021 as part of this authorization. Under the stock repurchase plans, the Company made repurchases of common stock for 2021, 2020 and 2019 as follows:


	2021		2020		2019
Shares repurchased	612,325		595,805		102,932
Average price	$	79.93	$	38.78	$	37.06
Aggregate cost (in millions)	$	48.9	$	23.1	$	3.8

The Company’s common stock does not have a stated par value. As a result, repurchases of common stock have been reflected, using an average cost method, as a reduction of common stock, additional paid-in-capital and retained earnings in the Company’s consolidated balance sheet. See Note 20 for information regarding an additional increase to the stock repurchase authorization subsequent to the year ended December 31, 2021.