XML 77 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Buyback Program
12 Months Ended
Dec. 31, 2013
Stock Buyback Program [Abstract]  
Stock Buyback Program

Note 11 — Stock Buyback Program

 

In June 2009, we announced that we intended to purchase up to 1.5 million shares of our common stock plus an amount equal to additional shares of our common stock granted under our stock-based compensation plans (Note 9) as permitted under our Credit Agreement (Note 7).  Our Board of Directors had previously granted us the authority to repurchase shares of our common stock in an amount equal to any equity issued to our employees, officers and directors under our stock-based compensation plans, including share-based awards issued under our existing LTI Plans and shares issued to our employees under our employee stock purchase plans (Note 9).  We may continue to make repurchases pursuant to this authority from time to time as additional equity is issued under our stock based plans depending on prevailing market conditions and other factors.  As described in an announced plan, all repurchases may be commenced or suspended at any time as determined by management.  During 2013, we purchased 389,721 shares as then available under this program for $8.8 million or an average of $22.72 per share.  As of December 31, 2013, we had repurchased a total of 3,268,514 shares of our common stock for $45.8 million or an average of $14.01 per share.