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REPURCHASE OF COMMON STOCK
3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
REPURCHASE OF COMMON STOCK
REPURCHASE OF COMMON STOCK
On June 23, 2014, our Board authorized an increase in the stock repurchase plan limit to $50 million. We repurchased 60,000 shares for a total cost of $1.7 million during the three months ended March 31, 2016. At March 31, 2016, $13.8 million remained available to repurchase shares under the stock repurchase plan. Under the Credit Facility, the Company is limited in its ability to make stock repurchases unless the leverage ratio is below 2.50 to 1.00. Notwithstanding such provision, in the event the leverage ratio is equal to or greater than 2.50 to 1.00 but is at least 0.25 less than the maximum permitted leverage ratio, the Credit Facility generally permits the the Company to make stock repurchases provided that such repurchases, plus any payments of cash dividends, do not exceed $50 million in the aggregate.