Treasury Stock

From time to time, our Board of Directors authorizes management to repurchase shares of our issued and outstanding common stock. Repurchases may be made to manage dilution created by shares issued under our stock incentive plans or whenever we deem a repurchase is a good use of our cash and the price to be paid is at or below a threshold approved by our Board. As of December 31, 2016, we had 370,565 shares available for repurchase under the Board's authorizations.

Repurchased shares of our common stock were as follows:



	Year Ended December 31,
(In thousands)	2016		2015		2014
Shares repurchased	198		1,817		384
Cost of shares repurchased	$	12,647	$	89,395	$	16,168

Repurchased shares are recorded as shares held in treasury at cost. We hold these shares for future use as management and the Board of Directors deem appropriate, which has included compensating our outside directors. During the year ended December 31, 2014, we issued 15,000 shares from treasury to outside directors for services performed (see Note 16).