Stock Repurchase Plan

9 Months Ended

Sep. 30, 2013

Stock Repurchase Plan

Stock Repurchase Plan

Note 13 — Stock Repurchase Plan

In July 2013, our Board authorized us to repurchase an additional $150 million of our outstanding common stock.  As of September 30, 2013 the Company has not repurchased any common stock under this authorization.

In December 2012, our Board authorized us to repurchase up to $50 million of our outstanding common stock (“Repurchase Plan”).  During the six-month period ended June 30, 2013 the Company repurchased a total of 1,573,588 shares at a cost of $50 million and completed the December 2012  Repurchase Plan.