XML 58 R18.htm IDEA: XBRL DOCUMENT v2.4.0.6
Treasury Stock
3 Months Ended
Mar. 31, 2013
Treasury Stock [Abstract]  
Treasury Stock

NOTE K – Treasury Stock

Common stock held in treasury totaled 21,935,218 shares with a cost of $312.0 million at March 31, 2013 and 21,829,954 shares with a cost of $311.0 million at December 31, 2012. Approximately 8.1 million shares are available for future issuances.

In August 2012, CTS’ Board of Directors authorized a program to repurchase up to one million shares of its common stock in the open market at a maximum price of $13 per share. The authorization has no expiration. Reacquired shares will be used to support equity-based compensation programs and for other corporate purposes. During the first three months of 2013, 105,264 shares were repurchased.