XML 26 R14.htm IDEA: XBRL DOCUMENT v3.21.1
SHARE REPURCHASE SHARE REPURCHASE
 3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
SHARE REPURCHASE SHARE REPURCHASES
2021 Stock Repurchase Program
On December 23, 2020, we announced that our Board of Directors authorized a stock repurchase program, under which we may repurchase up to $100 million of our outstanding common stock through December 31, 2021.
Under the terms of the program, we are allowed to repurchase shares from time to time through open market purchases, unsolicited or solicited privately negotiated transactions, an accelerated stock repurchase program, and/or a trading plan in compliance with Exchange Act Rule 10b5-1. The timing and the amount of the repurchases will be determined by management based on a number of factors, including but not limited to share price, trading volume and general market conditions, as well as on working capital requirements, general business conditions and other factors.
During the three-month period ended March 31, 2021, pursuant to this program, we repurchased 292,348 shares of our common stock at a weighted average price of $249.28 per share and a total cost of approximately $73 million. The repurchased shares are classified as treasury shares.