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1. What was the average cost per share of the treasury stock purchased by Composition during 2020 and 2021, respectively 2. What was the fair
1. What was the average cost per share of the treasury stock purchased by Composition during 2020 and 2021, respectively
2. What was the fair value of the treasury stock exchanged for asset acquisitions for 2020?
Paid-in capital— excess of par | | Number of Treasury shares | | Treasury stock amount | | Retained earnings | |||||||||||||
BALANCES AT December 31, 2019 | $ | 0 | | | | | (30,561 | ) | | | $ | (524,321 | ) | | | $ | 1,673,382 | | |
Net earnings | | - | | | | | - | | | | | - | | | | | 242,941 | | |
Sales of common stock under option plans | | (5,181 | ) | | | | 377 | | | | | 10,738 | | | | | - | | |
Cash dividends declared on common stock: $0.5375 per share | | - | | | | | - | | | | | - | | | | | (68,952 | ) | |
Compensation under employee incentive plans | | (1,802 | ) | | | | 395 | | | | | 9,408 | | | | | - | | |
Treasury shares exchanged for Acquisitions | | 139,209 | | | | | 20,449 | | | | | 318,293 | | | | | - | | |
Purchase of shares for treasury | | - | | | | | (6,668 | ) | | | | (122,906 | ) | | | | - | | |
BALANCES AT December 31, 2020 | | 132,226 | | | | | (16,008 | ) | | | | (308,788 | ) | | | | 1,847,371 | | |
Net earnings | | - | | | | | - | | | | | - | | | | | 81,965 | | |
Sales of common stock under option plans | | (3,538 | ) | | | | 279 | | | | | 7,095 | | | | | - | | |
Cash dividends declared on common stock: $0.5475 per share | | - | | | | | - | | | | | - | | | | | (72,903 | ) | |
Compensation under employee incentive plans | | (196 | ) | | | | 366 | | | | | 8,271 | | | | | - | | |
Purchase of shares for treasury | | - | | | | | (2,933 | ) | | | | (48,678 | ) | | | | - | | |
BALANCES AT December 31, 2021 | $ | 128,492 | | | | | (18,296 | ) | | | $ | (342,100 | ) | | | $ | 1,856,433 | | |
|
From the Statement of Cash Flows:
Cash flows from financing activities:
| 2021 | | 2020 | ||
Dividends paid | $ | 72,244 | | $ | 66,932 |
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