Stockholders' Equity

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Stockholders' Equity

NOTE 10: STOCKHOLDERS’ EQUITY

On January 31, 2018, our Board of Directors authorized up to $250 million of share repurchases. Our Board of Directors authorized and directed management, working with the Executive Committee of our Board of Directors, to affect the share repurchase program in compliance with applicable legal requirements. This repurchase program has no expiration date but may be suspended or terminated by the Board of Directors at any time. 

During the three months ended March 31, 2018, we repurchased 252,650 shares of outstanding common stock under the share repurchase program at an aggregate cost of $10 million, or an average share price of $39.88, of which $6 million remains payable and is recorded in accrued expenses and other current liabilities on our unaudited condensed consolidated balance sheet at March 31, 2018. As of March 31, 2018, we had a remaining balance of $240 million available to repurchase shares of our common stock under the share repurchase program. Subsequent to March 31, 2018, we repurchased an additional 2,329,548 shares for an aggregate cost of $90 million, or an average price of $38.60 per share. As of May 7, 2018, we had a remaining balance of $150 million available to repurchase shares of our common stock under the share repurchase program.