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Common and Preferred Stock
3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Common and Preferred Stock
Common and Preferred Stock
On November 6, 2014, the Company’s Board of Directors approved a $400.0 million increase in the authorized level for repurchases of common stock. Repurchases will be funded with future cash flow generation or borrowings available under the Revolving Facility. During the three months ended March 31, 2015, the Company purchased a total of 830 thousand shares at a cost of $62.1 million, of which $2.7 million was settled in April 2015. During the three months ended March 31, 2014, the Company purchased 551 thousand shares at a cost of $40.1 million, of which $2.6 million was settled in April 2014. As of March 31, 2015, the amount of share repurchase authorization remaining is $483.3 million.
At March 31, 2015 and December 31, 2014, the Company had 150 million shares of authorized common stock, with a par value of $.01 per share, and 5 million shares of authorized preferred stock, with a par value of $.01 per share. No preferred stock was outstanding at March 31, 2015 or December 31, 2014.