The following information comes from the 2021 Annual Report to stockholders of Composition Inc. (in thousands):

From the Statement of Changes in Shareholders' Equity:

Paid-in capitalexcess 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

Required: Assuming that Composition had Dividends Payable of $17,450 thousand at December 31, 2019, compute the balance in that account at December 31, 2021.