Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity

Stockholders’ Equity

Preferred Stock

The Company has 5,000,000 shares of preferred stock (Preferred Stock) authorized, none of which are issued.

Common Stock

Common stockholders are entitled to one vote per share and dividends when declared by the Company’s Board of Directors, subject to the preferential rights of any outstanding shares of Preferred Stock.

Employees and directors of the Company purchased 864,457 shares, 3,547,431 shares, and 1,487,642 shares of common stock during the years ended December 31, 2014, 2013 and 2012, respectively, pursuant to option exercises and the Company’s employee stock purchase plan. The aggregate net proceeds to the Company resulting from these purchases were approximately $17.3 million, $74.2 million, and $22.9 million during the years ended December 31, 2014, 2013 and 2012, respectively, and are included within the financing activities section of the consolidated statements of cash flows. The Company issued 212,136 shares, 237,413 shares and 352,391 shares under restricted stock awards during the years ended December 31, 2014, 2013 and 2012, respectively.

Treasury Stock

On June 5, 2012, the Company's Board of Directors authorized the Company to use a portion of the net proceeds of the 2017 notes offering to repurchase up to an aggregate of $50.0 million of its common stock. The Company repurchased 2,192,982 shares of its common stock in the second quarter of fiscal 2013 for an aggregate cost of $50.0 million.

As of December 31, 2014, there were 2,192,982 shares of the Company's common stock held in treasury.