Stock Repurchase Program

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Stock Repurchase Program

Stock Repurchase Program

In October 2018, the Company's Board of Directors authorized the repurchase of $200,000,000 of the Company's common stock. As of June 30, 2019, the Company repurchased 1,601,000 shares at a cost of $70,312,000 under this program, including 1,398,000 shares at a cost of $61,690,000 in 2019, all of which were repurchased in the three-month period ended June 30, 2019. The Company may repurchase shares under this program in future periods, up to the remaining balance of $129,688,000, depending upon a variety of factors, including, among other things, the impact of dilution from employee stock options, stock price, share availability, and cash requirements.