Share Repurchases

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

16. Share Repurchases

During the three and nine months ended September 30, 2016, the Company repurchased no shares of common stock.

In January 2015, the Board of Directors approved a standing share repurchase authorization, whereby the Company may repurchase up to 15,000,000 shares of its common stock over the following three years. This plan replaced all previously authorized repurchase programs. As of September 30, 2016, there were 6,771,458 shares available for repurchase under this plan.

A summary of share repurchase activity during the three and nine months ended September 30, 2015 is as follows:



	Three Months Ended		Nine Months Ended
	September 30, 2015		September 30, 2015
Shares of common stock repurchased	1,510,124		8,228,542
Spending on share repurchases	$	100,030	$	600,164
Average price paid per share	$	66.24	$	72.94