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Share Repurchase Program
6 Months Ended
Jun. 30, 2014
Share Repurchase Program [Abstract]  
Share Repurchase Program
SHARE REPURCHASE PROGRAM

In 2011, the board of directors approved an initial authorization for the Company to repurchase shares of its outstanding unrestricted common stock of $100 million and approved additional authorizations in 2012 of $100 million and 2013 of $100 million. The program permits the Company to purchase shares through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities laws. It does not obligate the Company to make any repurchases at any specific time or situation.

For the six months ended June 30, 2014, the Company repurchased 1,712,046 shares of unrestricted common stock at an average cost per share of $51.56 totaling $88.3 million in purchases under the program.

Since inception of the program through June 30, 2014, the Company has repurchased 6,351,870 shares of unrestricted common stock at an average cost per share of $36.26, totaling $230.3 million in purchases under the program.