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Treasury Stock
9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Treasury Stock
Treasury Stock

On February 28, 2014, our Board of Directors authorized the repurchase by us of up to an aggregate of $300.0 million of our common stock, inclusive of prior authorizations, from time to time through and including December 31, 2019. During the nine months ended September 30, 2016, we repurchased 147,465 shares of our common stock at an average price per share of $48.81, for a total purchase price of $7.2 million. As a result, at September 30, 2016, we had approximately $98.8 million remaining under this authorization for the repurchase of our common stock. See Note 13 for additional information.

During the first nine months of 2016, we issued 141,684 treasury shares which had an average cost of $6.30 per share for restricted stock units that vested during the period.  In accordance with the Silgan Holdings Inc. Amended and Restated 2004 Stock Incentive Plan, we repurchased 47,472 shares of our common stock at an average cost of $51.27 to satisfy minimum employee withholding tax requirements resulting from the vesting of such restricted stock units.

We account for treasury shares using the first-in, first-out (FIFO) cost method.  As of September 30, 2016, 27,216,596 shares of our common stock were held in treasury.