Common Stock

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Common Stock

Common Stock

Share Repurchase Program

On August 6, 2015, the Company’s Board of Directors authorized a $100.0 million stock repurchase program which commenced immediately and does not have an expiration date. Repurchases made under this program may be made in the open market as the Company deems appropriate and market conditions allow. In 2015, the Company repurchased 118,772 shares of common stock for a total cost of $5.0 million, or an average price of $42.13 per share. In 2016, the Company repurchased 226,170 shares of common stock for a total cost of $9.4 million, or an average price of $41.43 per share. As of December 31, 2016, the Company had $85.6 million available for future purchases under the stock repurchase program.