Stock Buyback Program

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Stock Buyback Program

Stock Buyback Program

Our Board of Directors has 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 long-term incentive plans and shares issued to our employees under our employee stock purchase plans (Note 12). 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 2015, we did not purchase any shares as then available under this program. As of December 31, 2015, we had repurchased a total of 3,589,425 shares of our common stock for $53.5 million or an average of $14.90 per share. We had 878,328 shares of our common stock available for repurchase under the program at December 31, 2015.