Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Stock Repurchase Program

In October 2013, the Board of Directors authorized a $750.0 million share repurchase program, effective from October 16, 2013 through December 31, 2016. During the years ended December 31, 2015, 2014 and 2013, the Company repurchased 4.5 million, 4.6 million and 3.9 million shares, respectively, of its common stock for $302.6 million, $268.6 million and $160.4 million, respectively, pursuant to the current repurchase program as well as prior ones approved by the Board of Directors. As of December 31, 2015, the Company had $131.0 million available for future purchases of shares under the current repurchase program.

In February 2016, the Board of Directors authorized a new $1.0 billion share repurchase program, effective from February 9, 2016 through December 31, 2018. The Company's goal for this program is to offset the dilution created by its employee equity compensation programs and provide the flexibility to return capital to shareholders as business and market conditions warrant.

The Board of Directors authorized the retirement of all the outstanding shares of its treasury stock as of each of December 31, 2015, 2014 and 2013. The retired shares were returned to the number of authorized but unissued shares of the Company's common stock, and the retirement was recorded to additional paid-in capital.