XML 76 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Share Repurchases
3 Months Ended
Mar. 31, 2013
Share Repurchases [Abstract]  
Share Repurchases

13. Share Repurchases

In October 2011, the Board of Directors authorized a share repurchase program for up to $35.0 million of the Company’s common stock. As of March 31, 2013, the Company repurchased 955,342 shares of common stock at a cost of $29.2 million. No shares were repurchased during the three months ended March 31, 2013. Shares repurchased under the program will be held in treasury for future use.

On February 28, 2012, the Company repurchased 1,821,730 shares of the Company’s non-voting common stock from JPMorgan Chase & Co. (“JPM”) at a cost of $52.9 million. Shares repurchased from JPM were cancelled by the Company.