SHARE REPURCHASE

6 Months Ended

Jun. 30, 2021

On May 12, 2021, the Company announced that its Board of Directors authorized a share repurchase program (the “program”) under which up to $85.0 million or 1.5 million shares of its outstanding common stock may be acquired in the open market over the next 24 months at the discretion of management. During the three and six months ended June 30, 2021, the Company repurchased 1.0 million shares of common stock for $29.2 million at an average price of $28.77 per share.

Total consideration paid to repurchase the shares was recorded in shareholders’ equity as treasury shares. Such consideration was funded with existing cash balances and an agreement to pay sellers over four equal installments beginning on June 15, 2021. The remaining three installments totaling $20.4 million were included in other current liabilities as of June 30, 2021.


	Three Months Ended June 30,		Six Months Ended June 30,
(in millions, except per share data)	2021			2021
Total number of shares purchased	1.0			1.0
Amount paid	$	29.2		$	29.2
Average price paid per share	$	28.77		$	28.77