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Repurchases Of Common Stock
9 Months Ended
Sep. 30, 2013
Repurchases Of Common Stock [Abstract]  
Repurchases Of Common Stock

Note 11.      Repurchases of common STOCK 

 

The following is a summary of our open market common stock repurchases for the three and nine months ended September 30, 2013 and 2012 (in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

For the Nine Months Ended

 

 

September 30,

 

September 30,

 

 

2013 

 

2012 

 

2013 

 

2012 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares repurchased

 

 

801 

 

 

386 

 

 

3,139 

 

 

1,038 

Total cost of shares repurchased

 

$

76,575 

 

$

36,146 

 

$

282,910 

 

$

91,152 

Average cost per share

 

$

95.52 

 

$

93.76 

 

$

90.12 

 

$

87.82 

 

 

 

We primarily acquire shares by means of repurchases in the open market. However, we also acquire shares that are surrendered by employees in payment for the minimum required withholding taxes due on the vesting of restricted stock units and the settlement of deferred stock units. The number of shares acquired through employee surrenders during both the three months ended September 30, 2013 and 2012 was not material. We acquired 47,483 shares having a total cost of $4.3 million in connection with such employee surrenders during the nine months ended September 30, 2013 compared to 51,484 shares having a total cost of $4.5 million during the nine months ended September 30, 2012.

 

We issue shares of treasury stock upon the vesting of certain restricted stock units and upon the exercise of certain stock options. The number of shares of treasury stock issued during both the nine months ended September 30, 2013 and 2012 was not material.