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Treasury Stock
12 Months Ended
Dec. 31, 2013
Treasury Stock

11. Treasury Stock

In accordance with ICG’s share repurchase program, ICG has been authorized to repurchase, from time to time, shares of Common Stock in the open market, in privately negotiated transactions or pursuant to trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act. The program was adopted in 2008 and was most recently expanded to allow for the repurchase of up to $150.0 million of shares of our Common Stock. During the years ended December 31, 2013 and 2012, ICG repurchased 906,285 shares and 930,225 shares, respectively, of its Common Stock. Those shares were repurchased at an average stock price of $13.23 per share and $8.94 per share during the annual periods ended December 31, 2013 and 2012, respectively. Since commencement of this program, ICG has repurchased a total of 5,117,937 shares of Common Stock at an average purchase price of $7.97 per share. As of the date of this Report, ICG may repurchase an additional $109.2 million of its Common Stock under this program. All repurchases are reflected in the line item “Treasury stock, at cost” as a reduction of Stockholders’ Equity in ICG’s Consolidated Balance Sheets in the relevant periods.