XML 35 R23.htm IDEA: XBRL DOCUMENT v3.20.2
Treasury Stock
6 Months Ended
Jun. 30, 2020
Treasury Stock.  
Treasury Stock

13. Treasury Stock

In July 2020, the Board of Directors increased the authorization under its existing stock repurchase program by $50,000 to a total of $300,000 in aggregate of common stock it can repurchase, from time to time, depending on market conditions and other considerations. The expiration date on the repurchase authorization is December 31, 2021. Repurchases occur at the Company’s discretion. Repurchases may be made in the open market or in privately negotiated transactions, pursuant to the applicable Securities and Exchange Commission rules. The amount and timing of future share repurchases, if any, will be made as market and business conditions warrant. During the six months ended June 30, 2020 the Company repurchased 898 shares of common stock at an aggregate cost of $69,048. At June 30, 2020, there remained $58,268 available under its current share repurchase authorization, prior to the increase made in July. Shares repurchased in lieu of taxes are not included in the repurchase plan totals as they were approved in conjunction with the restricted share awards.