XML 26 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
Share Repurchase Plan
6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Share Repurchase Plan
Share Repurchase Plan

In May 2016, the Company's Board of Directors authorized the Company to repurchase, on the open market, shares of its outstanding common stock in an amount not to exceed $30 million in aggregate. Purchases of the Company's common stock may be made in open market transactions effected through a broker-dealer at prevailing market prices, in block trades, or by other means in accordance with Rule 10b-18 and 10b5-1under the Securities Exchange Act of 1934 ("Exchange Act"). The share repurchase program does not obligate the Company to repurchase any particular amount of common stock, and has no fixed termination date.

Under this program, the Company has repurchased 37,900 shares of common stock through June 30, 2016. The table below summarizes share repurchase activity during the three and six months ended June 30, 2016.
 
Three Months Ended
 
Six Months Ended
(millions, except for share and per share data) (unaudited)
June 30, 2016
 
June 30, 2016
Total number of shares repurchased
37,900

 
37,900

Average price paid per share
$
23.26

 
$
23.26

Total value of shares repurchased
$
0.9

 
$
0.9


 
Three Months Ended
 
Six Months Ended
(millions) (unaudited)
June 30, 2016
 
June 30, 2016
Total authorized repurchase amount
$
30.0

 
$
30.0

Total value of shares repurchased
0.9

 
0.9

Total remaining authorized repurchase amount
$
29.1

 
$
29.1