REPURCHASES OF COMMON STOCK

9 Months Ended

Sep. 30, 2015

REPURCHASES OF COMMON STOCK [Abstract]

REPURCHASES OF COMMON STOCK

5.REPURCHASES OF COMMON STOCK

During the three-month period ended September 30, 2015, the Company repurchased 0.6 million shares of its Class A common stock under its open market stock repurchase plan for $28.2 million. The Company did not repurchase any shares of its Class A common stock under its open market stock repurchase plan during the three-month period ended September 30, 2014. During the nine-month periods ended September 30, 2015 and 2014, the Company repurchased 2.1 million and 0.3 million shares of its Class A common stock under its open market repurchase plan for $104.1 million and $25.0 million, respectively.  As of September 30, 2015, $244.8 million was available for repurchases under the open market stock repurchase plan. In October 2015, our board terminated the open market stock repurchase plan and approved a new repurchase plan with an initial authorization amount of $500.0 million.