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Share Repurchase Program
6 Months Ended
Jun. 30, 2014
Share Repurchase Program

14. Share Repurchase Program

In January 2014, the Board of Directors of the Company authorized a share repurchase program for up to $35.0 million of the Company’s common stock. In July 2014, the Board of Directors increased the authorization under the share repurchase program by an additional $65.0 million of the Company’s common stock. The share repurchase program will expire on December 31, 2015. For the six months ended June 30, 2014, the Company repurchased 242,787 shares of common stock at a cost of $13.7 million. Shares repurchased under the program will be held in treasury for future use.