Common Stock Repurchase Plan

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Common Stock Repurchase Plan

NOTE 15.  COMMON STOCK REPURCHASE PLAN

On July 29, 2016, we announced that our Board of Directors had approved a share repurchase program pursuant to which we were authorized to repurchase up to $150.0 million of our outstanding shares of common stock through July 31, 2018 (the “Program”).  On October 30, 2017, we announced that our Board of Directors had approved an additional $250.0 million authorization to repurchase shares under the Program. The Program was also extended through October 31, 2020. On July 31, 2018, we announced that our Board of Directors had approved an additional $300.0 million authorization to repurchase shares, increasing the total authorized amount under the Program to $700.0 million. Repurchases under the Program may be made through open market, block and privately-negotiated transactions, including Rule 10b5-1 plans, at such times and in such amounts as management deems appropriate, subject to market and business conditions, regulatory requirements and other factors.  The Program does not obligate us to repurchase any particular amount of common stock and may be suspended or discontinued at any time without notice. During the six months ended June 30, 2018, we repurchased 1.8 million shares under the Program for a total cost of $105.0 million, or an average price of $58.80 per share. Since inception of the Program, we have repurchased 4.7 million shares under the Program for a total cost of $229.2 million, or an average price of $48.33 per share.