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Stock Repurchase Program
9 Months Ended
Sep. 30, 2016
Class of Stock Disclosures [Abstract]  
Stock Repurchase Program
Stock Repurchase Program
Under the Company's stock repurchase program, the Company repurchased shares during the nine months ended September 30, 2016 and 2015, as follows:
 
Nine Months Ended
(in thousands, except per share data)
September 30,
2016
 
September 30,
2015
Number of shares repurchased
2,700

 
2,793

Average price paid per share
$
90.11

 
$
86.92

Total cost
$
243,288

 
$
242,748


In February 2016, the Company's Board of Directors increased the number of shares authorized for repurchase to a total of 5.0 million shares under the stock repurchase program. As of September 30, 2016, 2.3 million shares remained available for repurchase under the program.