Stockholders' Equity

6 Months Ended

Jun. 30, 2014

Stockholders' Equity

Note 7 – Stockholders’ Equity

Dividends on our Common Stock

The Executive Committee, acting on behalf of the Board of Directors, declared the following dividends during the periods presented:

Declaration Date	Dividend Per  Share		Record Date		Total Amount (in  thousands)		Payment Date
Six months ended June 30, 2014:
February 5, 2014	$	0.15		March 10, 2014	$	19,602		March 27, 2014
April 30, 2014		0.15		May 30, 2014		19,231		June 19, 2014
Six months ended June 30, 2013:
February 5, 2013	$	0.13		March 11, 2013	$	17,983		March 28, 2013
April 24, 2013		0.13		May 30, 2013		17,638		June 19, 2013

In addition, on July 30, 2014, the Executive Committee, acting on behalf of the Board of Directors, declared a quarterly cash dividend of $0.18 per share of outstanding common stock payable on September 17, 2014 to stockholders of record as of the close of business on August 27, 2014. Future declarations of dividends are subject to final determination by our Board of Directors.

Share Repurchases

In April 2012, the Executive Committee, acting on behalf of the Board of Directors, authorized a repurchase of up to 20 million outstanding shares of our common stock. There is no fixed termination date for the repurchases. During the first half of 2014, we repurchased, through open market transactions, 4.7 million shares under this authorization for a total cost of $339 million, excluding transaction costs, representing an average repurchase price of $71.65 per share. As of June 30, 2014, 4.1 million shares remain authorized for repurchase under the 2012 authorization. Subsequent to the end of the second quarter of 2014, we repurchased an additional 0.3 million shares for a total cost of $24 million, excluding transaction costs, representing an average purchase price of $78.92 per share.