Stock Repurchases

12 Months Ended

Dec. 31, 2012

Stock Repurchases [Abstract]

Stock Repurchases

Stock Repurchases

Effective June 30, 2011 The Board of Directors of Ebix, Inc. unanimously approved an increase in the size of the Company's authorized share repurchase plan to acquire up to $100 million of the Company’s current outstanding shares of common stock. Under the terms of the Board’s authorization, the Company retains the right to repurchase up to $100 million in shares but does not have to repurchase this entire amount. The repurchase plan’s terms have been structured to comply with the SEC’s Rule 10b-18, and are subject to market conditions and applicable legal requirements. The program does not obligate the Company to acquire any specific number of shares and may be suspended or terminated at any time. All purchases are made in the open market and are expected to be funded from existing cash. Treasury stock is recorded at its acquired cost. During 2012 the Company repurchased 983,818 shares of its common stock under this plan for total consideration of $18.4 million. During 2011 the Company repurchased 3,510,973 shares of its common stock under this plan for total consideration of $63.7 million. In addition from the years 2006 to 2010 the Company repurchased 961,335 shares of its common stock under this plan for total consideration of $12.6 million. As of December 31, 2012 the Company had $5.4 million remaining in its share repurchase authorization.