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TREASURY STOCK
12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
TREASURY STOCK
TREASURY STOCK
 
In the second quarter of 2013, the Company's Board of Directors authorized a program to purchase $1.0 billion of the Company's common stock. The Company repurchased 431,910 shares in the second quarter of 2013 for an aggregate cost of $345.5 million in privately negotiated, off-market transactions.

In the third quarter of 2013, the Company repurchased 484,361 shares for an aggregate cost of $459.2 million. These shares were covered under our remaining authorizations as of December 31, 2012 to repurchase common stock.

In October 2013, the Company settled Conversion Spread Hedges and received 42,160 shares of common stock, with a fair value of $43.1 million, from the counterparties (see Note 7 for further detail on the Conversion Spread Hedges).

In the first quarter of 2012, the Company's Board of Directors authorized a one-time purchase of the Company's common stock up to $200 million concurrent with the issuance of the 2018 Notes. The Company repurchased 263,913 shares in the first quarter of 2012 for an aggregate cost of $166.2 million.

The Board of Directors has also given the Company the general authorization to repurchase shares of its common stock to satisfy employee withholding tax obligations related to stock-based compensation.  In the years ended December 31, 2013, 2012 and 2011, the Company repurchased 113,503, 141,229, and 358,517 shares at an aggregate cost of approximately $78.8 million, $90.8 million and $163.2 million, respectively, to satisfy employee withholding taxes related to stock-based compensation.
 
The Company may make additional repurchases of shares under its stock repurchase program, depending on prevailing market conditions, alternate uses of capital and other factors. Whether and when to initiate and/or complete any purchase of common stock and the amount of common stock purchased will be determined in the Company's complete discretion.  The Company has a remaining authorization of $654.5 million to repurchase common stock.  As of December 31, 2013, there were approximately 9.3 million shares of the Company's common stock held in treasury.