Stock Repurchases

6 Months Ended

Jun. 30, 2013

12. STOCK REPURCHASES

On August 5, 1999, our board of directors approved a stock repurchase program which authorizes us to repurchase common shares in the open market or in privately negotiated transactions at price levels we deem attractive. On March 7, 2013, the board of directors authorized the repurchase of up to one million shares of our common stock in addition to the board’s prior authorizations. As of June 30, 2013, we had authorization to repurchase 676,788 shares of our common stock.

The following table summarizes our stock repurchases for the three and six months ended June 30, 2013 and 2012:



(Dollars in millions)	For the Three Months Ended June 30,
	2013			2012
Stock Repurchases	Number of Shares Repurchased	Cost		Number of Shares Repurchased	Cost (1)
Open Market	326,629	$	36.2	94,559	$	8.3
Tender Offer	–		–	1,000,000		84.8
Total	326,629	$	36.2	1,094,559	$	93.1



(Dollars in millions)	For the Six Months Ended June 30,
	2013			2012
Stock Repurchases	Number of Shares Repurchased	Cost		Number of Shares Repurchased	Cost (1)
Open Market	857,424	$	95.2	285,402	$	27.0
Tender Offer	–		–	1,000,000		84.8
Other (2)	6,259		0.7	13,053		1.2
Total	863,683	$	95.9	1,298,455	$	113.0

(1) Tender Offer amount includes offering costs of $0.3 million for 2012.

(2) Represents shares of common stock released to us by team members as payment of tax withholdings due to us upon the vesting of restricted stock and restricted stock units.