STOCK REPURCHASE PROGRAM

12 Months Ended

Dec. 31, 2017

STOCK REPURCHASE PROGRAM [ABSTRACT]

STOCK REPURCHASE PROGRAM

(20)STOCK REPURCHASE PROGRAM

Stock Repurchase Program

The Company has a stock repurchase program, which was initially authorized by the Company’s Board of Directors in November 2001. As of December 31, 2017, the cumulative authorized repurchase allowance was $762.3 million. During the year ended December 31, 2017, the Company purchased 0.6 million shares for $18.3 million. Since inception of the program, the Company has purchased 46.1 million shares for $735.8 million. As of December 31, 2017, the remaining allowance under the program was approximately $26.6 million. For the period from January 1, 2018 through February 28, 2018, the Company did not purchase any additional shares. The stock repurchase program does not have an expiration date.