Common Stock Repurchase Plan

3 Months Ended

Mar. 31, 2013

Common Stock Share Repurchase Plan [Abstract]

Common Stock Repurchase Plan

Common Stock Repurchase Plan

On January 3, 2013, the Corporation announced that its board of directors approved a share repurchase program pursuant to which the Corporation is authorized to repurchase up to eight million shares, or approximately 4% of its outstanding shares, through June 30, 2013. Repurchased shares will be added to treasury stock, at cost, and will be used for general corporate purposes. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time in the open market at prevailing prices. The program may be discontinued at any time. Approximately 4.2 million shares were repurchased during the three months ended March 31, 2013 under this program; approximately 3.8 million shares remain authorized for repurchase.