Stock Repurchases

3 Months Ended

Mar. 31, 2014

12. 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 March 31, 2014, we had authorization to repurchase 324,456 shares of our common stock.

The following table summarizes our stock repurchases for the three months ended March 31, 2014 and 2013:



(Dollars in millions)	For the Three Months Ended March 31,
	2014			2013
Stock Repurchases	Number of Shares Repurchased	Cost		Number of Shares Repurchased	Cost
Open Market	–	$	–	530,795	$	59.0
Tender Offer (1)	637,420		85.2	–		–
Other (2)	137,876		18.4	6,259		0.7
Total	775,296	$	103.6	537,054	$	59.7

(1)Tender Offer Cost amounts include offering costs of $0.2 million.

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