3 unchanged sentences
We cannot provide any assurances that any distributions, whether quarterly or otherwise, will continue to be paid in the future.
−Removed: On February 3, 2020, 1,150,000 shares of mandatory convertible preferred stock ("MCPS") converted to 912,870 shares of the Company's common stock.
−Removed: Each share of MCPS converted to 0.7938 shares of common stock at a conversion price of $125.97 per share, subject to customary anti-dilution adjustments.
−Removed: The number of shares of common stock issued upon conversion was determined based on the volume-weighted average price per share of our common stock over the 20 consecutive trading day period beginning on, and including, the 22nd scheduled trading day immediately preceding the mandatory conversion date.
On February 23, 2022, our Board of Directors declared a quarterly cash dividend of $1.50 per common share to be paid on May 13, 2022 to shareholders of record at the close of business on April 29, 2022.
Issuer Purchases of Equity Securities
−Removed: As of December 31, 2020, an aggregate of 4,930,045 shares of our common stock had been authorized to be repurchased under the share repurchase program originally approved by our Board of Directors in 2010, and 722,642 shares remain available for repurchase.
+Added: An aggregate of 4,930,045 shares of our common stock had been authorized to be repurchased under the share repurchase program originally approved by our Board of Directors in 2010, and as of December 31, 2021, 529,449 shares remained available for repurchase.
Under the terms of the program, we may repurchase shares of our common stock from time to time at our discretion through open market repurchases, privately negotiated transactions and/or other mechanisms, depending on price and prevailing market and business conditions.
The program, which has no specified term, may be suspended or terminated at any time.
−Removed: During the year ended December 31, 2020, we repurchased a total of 279,796 common shares for approximately $32.5 million.
+Added: During the year ended December 31, 2021, we repurchased a total of 193,193 common shares for $57.5 million.
The following table sets forth information regarding our share repurchases in each month during the quarter ended December 31, 2021:
7 unchanged sentences
This repurchase program is not subject to an expiration date.
+Added: Unregistered Sales of Equity Securities
There were no unregistered sales of equity securities during the fourth quarter of fiscal 2021.
1 unchanged sentence
We do not reserve shares for this plan or discount the purchase price of the shares.
−Removed: Selected Financial Data.
−Removed: The following table sets forth our selected consolidated financial and other data at the dates and for the periods indicated.
−Removed: The selected financial data should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and the notes thereto appearing elsewhere in this Annual Report on Form 10-K.
−Removed: Years Ended December 31,
−Removed: (in thousands, except per share data) 2020 (1) 2019 (1) 2018 (1) 2017 (2) 2016 (2)
−Removed: Results of Operations
−Removed: Revenues $ 603,896 $ 563,246 $ 552,235 $ 425,607 $ 322,554
−Removed: Operating expenses 460,732 438,536 439,136 367,572 271,740
−Removed: Operating income (loss) 143,164 124,710 113,099 58,035 50,814
−Removed: Income tax expense (benefit) 43,935 35,177 32,961 40,490 21,044
−Removed: Net income (loss) 119,963 105,508 76,080 39,939 48,763
−Removed: Net income (loss) attributable to common stockholders 79,957 87,312 67,192 28,676 48,502
−Removed: Earnings (loss) per share—basic 10.49 12.54 9.37 4.09 6.34
−Removed: Earnings (loss) per share—diluted 10.02 11.74 8.86 3.96 6.20
−Removed: Cash dividends declared per preferred share — 7.25 7.25 7.25 —
−Removed: Cash dividends declared per common share 2.98 2.44 2.00 1.80 1.80
−Removed: As of December 31,
−Removed: (in thousands) 2020 (1) 2019 (1) 2018 (2) 2017 (2) 2016 (2)
−Removed: Balance Sheet Data
−Removed: Cash and cash equivalents $ 246,511 $ 221,781 $ 201,705 $ 132,150 $ 64,588
−Removed: Investments 64,944 83,206 79,558 108,492 89,371
−Removed: Investments of CIP 2,333,277 2,030,110 1,749,568 1,597,752 489,042
−Removed: Goodwill and other intangible assets, net 570,630 600,757 629,178 472,107 45,215
−Removed: Total assets 3,466,943 3,204,634 2,870,535 2,590,799 824,388
−Removed: Accrued compensation and benefits 122,514 101,377 93,339 86,658 47,885
−Removed: Debt 201,212 277,839 329,184 248,320 30,000
−Removed: Notes payable of CIP 2,190,445 1,834,535 1,620,260 1,457,435 328,761
−Removed: Total liabilities 2,630,490 2,454,532 2,169,187 1,981,397 465,449
−Removed: Redeemable noncontrolling interests 115,513 63,845 57,481 4,178 37,266
−Removed: Mandatory convertible preferred stock — 110,843 110,843 110,843 —
−Removed: Total equity 720,940 686,257 643,867 605,224 321,673
−Removed: As of December 31,
−Removed: (in millions) 2020 2019 2018 2017 2016
−Removed: Assets Under Management
−Removed: Total assets under management $ 132,194 $ 108,904 $ 92,030 $ 90,963 $ 45,366
−Removed: Total long-term assets under management $ 130,706 $ 107,726 $ 90,417 $ 88,835 $ 45,366
−Removed: (1) Derived from audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.
−Removed: (2) Derived from audited consolidated financial statements not included in this Annual Report on Form 10-K.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.