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Stock Repurchase Plan
3 Months Ended
Mar. 31, 2012
Stock Repurchase Plan

9. Stock Repurchase Plan

As of December 31, 2011, the Company’s board of directors had approved a stock repurchase program authorizing the Company, from time to time as market and business conditions warrant, to acquire up to $210 million of its common stock. In February 2012, the Company’s board of directors approved an increase of $52.1 million to their current stock repurchase authorization, bringing the total authorization to $262.1 million. Under the program to date, the Company has purchased 8,246,280 shares for approximately $193.3 million. The Company repurchased 164,100 shares for $6.2 million during the three months ended March 31, 2012. The maximum remaining dollar value of shares authorized for purchase under the stock repurchase program was approximately $68.8 million as of March 31, 2012.