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Treasury Stock
6 Months Ended
Jun. 30, 2013
Treasury Stock [Abstract]  
Treasury Stock

NOTE K – Treasury Stock

Common stock held in treasury totaled 21,980,159 shares with a cost of $312.5 million at June 30, 2013 and 21,829,954 shares with a cost of $311.0 million at December 31, 2012. Approximately 8.2 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 half of 2013, 150,205 shares were repurchased.

In June 2013, CTS’ Board of Directors authorized a program to repurchase up to one million shares of its common stock in the open market. The authorization has no expiration. Reacquired shares will be used to support equity-based compensation programs and for other corporate purposes. During the first half of 2013, no shares were repurchased under this program.