Common And Preferred Stock

3 Months Ended

Mar. 31, 2012

Common And Preferred Stock [Abstract]

Common And Preferred Stock

13. Common and Preferred Stock

On December 6, 2011, the Company announced that its Board of Directors increased the authorized level for repurchases of its common stock by approximately $50.0 million. The increased authorization will be added to the approximately $75.0 million that remains available from the existing authorization approved by the Board of Directors on April 21, 2008, resulting in a total authorized repurchase amount of $125.0 million. Since the inception of this program, the Company has purchased a total of 0.2 million shares at a cost of approximately $10.2 million.

At March 31, 2012 and December 31, 2011, 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 issued at March 31, 2012 and December 31, 2011.