Shareholders' Equity

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Shareholders' Equity

7. SHAREHOLDERS’ EQUITY

Return of capital.

On October 28, 2015, the Board of Directors of MSCI (the “Board of Directors”) approved a stock repurchase program authorizing the purchase of up to $1.0 billion worth of shares of MSCI’s common stock (the “2015 Repurchase Program”).

On October 26, 2016, the Board of Directors approved an additional stock repurchase program authorizing the purchase of up to $750.0 million worth of shares of the Company’s common stock (together with the $330.3 million remaining authorization under the 2015 Repurchase Program, the “2016 Repurchase Program”). Share repurchases made pursuant to the 2016 Repurchase Program may take place in the open market or in privately negotiated transactions from time to time based on market and other conditions. This authorization may be modified, suspended or terminated by the Board of Directors at any time without prior notice.  As of March 31, 2017, there was $781.2 million of available authorization remaining under the 2016 Repurchase Program.

The following table provides information with respect to repurchases of the Company’s common stock made on the open market:

Three Months Ended	Average Price Paid Per Share		Total Number of Shares Repurchased		Dollar Value of Shares Repurchased
			(in thousands)
March 31, 2017	$	82.25		1,079	$	88,744
March 31, 2016	$	68.45		4,869	$	333,328

The following table presents cash dividends declared per common share as well as total amounts declared, distributed and deferred for the periods indicated:

	Dividends
(in thousands, except per share amounts)	Per Share		Declared		Distributed		Deferred
2017
Three Months Ended March 31,	$	0.28	$	25,769	$	25,500	$	269
2016
Three Months Ended March 31,	$	0.22	$	22,046	$	21,889	$	157

Common Stock.

The following table presents activity related to shares of common stock issued and repurchased during the three months ended March 31, 2017:

	Common		Treasury			Common Stock
	Stock Issued		Stock			Outstanding
Balance At December 31, 2016		128,996,344		(37,716,754	)		91,279,590
Dividend payable/paid		114		(114	)		—
Common stock issued and exercise of stock options		389,198		—			389,198
Shares withheld for tax withholding and exercises		—		(139,208	)		(139,208	)
Shares repurchased under stock repurchase programs		—		(1,079,005	)		(1,079,005	)
Shares issued to directors		51		(10	)		41
Balance At March 31, 2017		129,385,707		(38,935,091	)		90,450,616