Subsequent Events

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events:

On February 9, 2017, the Company entered into a Fixed Dollar Accelerated Share Repurchase Transaction (the “ASR Agreement”) with J.P.Morgan Stanley ,to effect an accelerated stock buyback of the Company’s common stock (the “Common Stock”).

Under the ASR Agreement, on February 9, 2017, the Company will pay J.P.Morgan Stanley an initial purchase price of $75 million , and J.P.Morgan Stanley will deliver to the Company a total of approximately 0.4 million shares of Common Stock, representing approximately 85% of the shares expected to be purchased under the ASR Agreement.