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Stock Repurchases
 12 Months Ended
Dec. 31, 2013
Stock Repurchases [Abstract]  
Stock Repurchases

13.  STOCK REPURCHASES

 

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 December 31, 2013, we had authorization to repurchase 324,456 shares of our common stock. 

 

The following table summarizes our stock repurchases for the years ended December 31, 2013, 2012 and 2011:

 

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

For the Years Ended December 31,

 

   

 

2013

 

 

2012

 

 

2011

 

Stock Repurchases

 

Number of Shares Repurchased

 

 

Cost

 

 

Number of Shares Repurchased

 

 

Cost (1)

 

 

Number of Shares Repurchased

 

 

Cost (1)

 

Open Market

 

 
1,209,756 

 

 

$
134.5 

 

 

 
727,319 

 

 

$
66.5 

 

 

 
55,133 

 

 

$
4.2 

 

Tender Offer

 

 

-

 

 

 

-

 

 

 
1,000,000 

 

 

 
84.8 

 

 

 
1,904,761 

 

 

 
125.2 

 

Other (2)

 

 
6,259 

 

 

 
0.7 

 

 

 
13,053 

 

 

 
1.2 

 

 

 
19,550 

 

 

 
1.4 

 

Total

 

 
1,216,015 

 

 

$
135.2 

 

 

 
1,740,372 

 

 

$
152.5 

 

 

 
1,979,444 

 

 

$
130.8 

 

 

(1)

Tender Offer Cost amounts include offering costs of $0.3 million and $0.2 million for 2012 and 2011, respectively.

(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.