Share Repurchase Programs

Share repurchase programs require the approval of the Company's Board of Directors. The following table summarizes the Company’s Board authorized share repurchase programs and related information for the six months ended June 30, 2018 and for the full year 2017:

Program⁽¹⁾

Date Authorized by Board of Directors

Expiration Date

Amount Authorized (excluding commissions)

Amount Spent as of June 30, 2018

(excluding commissions)

Status

2017 Repurchase Program

February 16, 2017

December 31, 2019

300,000

106,050

Active

2016 Repurchase Program

February 19, 2016

December 31, 2017

200,000

104,366

Superseded⁽²⁾

(1)

The repurchase programs listed above do not obligate the Company to acquire any specific number of shares and can be suspended or discontinued at any time without notice. Shares can be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. All repurchases under the programs listed above have been made using cash resources.


(2)	The approximately $95,634 remaining authorization under the 2016 Repurchase Program as of February 16, 2017 was included in the $300,000 maximum amount authorized by the 2017 Repurchase Program.

The following table summarizes the Company’s open market and 10b5-1 plan share repurchase activity and related information during the six months ended June 30, 2018 and for the full year 2017:



	Number of Shares	Average Repurchase Price Per Share		Amount (including commissions)
2018 share repurchase activity:
2017 Repurchase Program	986,935	$	29.74	$	29,355
2017 share repurchase activity:
2017 Repurchase Program	2,136,237	$	35.95	$	76,788
2016 Repurchase Program	383,690	$	36.70	14,080
Total 2017 share repurchases	2,519,927	$	36.06	$	90,868

Since the share repurchases began in August 2014 through June 30, 2018, the Company has repurchased 15,737,691 shares of the Company’s common stock at an average cost of $34.12 per share.