Equity |
6 Months Ended |
---|---|
Jun. 30, 2018 | |
Equity [Abstract] | |
Equity | Equity In October 2016, the board of directors authorized a share repurchase program with no stated expiration date that allows Federated to buy back up to 4 million shares of Federated Class B common stock. No other programs existed as of June 30, 2018. The program authorizes executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is to be held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities, unless Federated's board of directors subsequently determines to retire the repurchased stock and restore the shares to authorized but unissued status (rather than holding the shares in treasury). During the first six months of 2018, Federated repurchased 0.8 million shares of its Class B common stock for $21.0 million, nearly all of which were repurchased in the open market. At June 30, 2018, 1.4 million shares remain available to be purchased under Federated's buyback program. |