Capital Stock

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Capital Stock

Capital Stock

For the three months ended March 31, 2020 and March 31, 2019 the Company repurchased approximately 0.8 million shares of common stock for $60 million and approximately 0.5 million shares of common stock for $39 million, respectively. Repurchases include both share repurchase programs approved by the Board of Directors and repurchases in relation to settlement of employee tax withholding obligations due as a result of the vesting of restricted stock units. The details of repurchases by each program are as follows:

On August 24, 2015, our Board of Directors authorized the repurchase of up to $500 million in shares with no expiration date. The program's objective is to deploy our capital in a manner that benefits our shareholders and maintains our focus on growth. There were approximately 0.7 million shares repurchased for $50 million under this program for the three months ended March 31, 2020. For the three months ended March 31, 2019, we repurchased approximately 0.3 million shares for $25 million. There are up to $288 million in shares that may still be purchased under this plan as of March 31, 2020.

Aside from the aforementioned repurchase program, we repurchased approximately 0.1 million shares and approximately 0.2 million shares for approximately $10 million and approximately $14 million for the three months ended March 31, 2020 and 2019, respectively, in relation to settlement of employee tax withholding obligations due as a result of the vesting of restricted stock units.