Shareholders' Equity

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Shareholders' Equity

SHAREHOLDERS’ EQUITY

A summary of shares repurchased under our stock repurchase program authorized by our Board of Directors follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Shares repurchased	4.4		—		8.0		0.1
Aggregate purchase price	$	235.9	$	—	$	415.7	$	4.9
Average purchase price per share	$	53.15	$	—	$	51.98	$	40.81

From October 1, 2014 through October 27, 2014, we repurchased an additional 1.4 million shares for an aggregate purchase price of $68.5 million (average purchase price per share of $49.29). In October 2014, our Board of Directors authorized an additional $250 million under our existing share repurchase program. As of October 27, 2014, $281.5 million remained available for share repurchases under the program.

A summary of shares of common stock issued in connection with the exercise of stock options follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Shares issued	0.4		0.5		1.5		1.0
Proceeds from the exercise of stock options	$	7.5	$	9.9	$	29.6	$	20.5
Average exercise price per share	$	17.54	$	20.32	$	19.59	$	20.46

The following table presents a summary of shares of common stock issued in connection with grants of restricted stock and shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock (in actual number of shares):

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2014	2013	2014	2013
Shares issued	4,020	—	153,900	137,144
Shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock	1,788	516	46,265	42,822