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TREASURY STOCK
3 Months Ended
Mar. 31, 2019
TREASURY STOCK  
TREASURY STOCK

14.         TREASURY STOCK

 

On August 7, 2018, the Company's Board of Directors authorized a share repurchase program for the purchase of up to $500.0 million of the Company's outstanding common stock (the “August 2018 Repurchase Plan”). During the three-months ended March 31, 2019, the Company purchased 2.6 million shares of common stock at an average purchase price of $54.18 per share, for a total amount of $139.0 million (excluding broker commissions), under the August 2018 Repurchase Plan. Such shares are included in the common stock in treasury in the accompanying condensed consolidated balance sheet at March 31, 2019. As of May 3, 2019, $20.6 million remained available for repurchase under the August 2018 Repurchase Plan.  

 

On February 26, 2019, the Company’s Board of Directors authorized a new share repurchase program for the purchase of up to $500.0 million of the Company’s outstanding common stock (the “February 2019 Repurchase Plan”). During the three-months ended March 31, 2019, no shares were repurchased under the February 2019 Repurchase Plan.

 

As of May 3, 2019, the aggregate amount available under such authorizations to repurchase the Company’s common stock was $520.6 million.

 

During the three-months ended March 31, 2019, 1.4 million shares of common stock were purchased from employees in lieu of cash payments for options exercised or withholding taxes due for a total amount of $83.8 million. While such purchases are considered common stock repurchases, they are not counted as purchases against our authorized share repurchase programs. Such shares are included in common stock in treasury in the accompanying condensed consolidated balance sheet at March 31, 2019.