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Common Stock Repurchase Programs
3 Months Ended
Mar. 31, 2018
Common Stock Repurchase Program [Abstract]  
Common Stock Repurchase Programs

10. Common Stock Repurchase Programs

The Board of Directors has approved programs for the Company to repurchase shares of its common stock. In April 2017, the Board of Directors authorized a share repurchase program (“2017 Program”) for the Company to repurchase up to $50.0 million of its common stock. The 2017 Program had a one year duration beginning on May 5, 2017. During the three months ended March 31, 2018, the Company did not repurchase any shares of its common stock. As of March 31, 2018, $50.0 million remained available for repurchases under the 2017 Program.

Additionally, in April 2018, the Company’s Board of Directors authorized a share repurchase program (the “2018 Program”) for the Company to repurchase up to $100 million of its common stock for a one-year duration from May 2018 through May 2019. Stock repurchases may be made from time to time in open market transactions or privately negotiated transactions, and the Company may use a plan that is intended to meet the requirements of SEC Rule 10b5-1 to enable stock repurchases to occur during periods when the trading window would otherwise be closed. The Company may suspend, modify or terminate the 2018 Program at any time without prior notice.