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Equity
3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Equity
Note 11 – Equity
Share Activity
In February 2016, the Company’s Board of Directors authorized a $100 million share repurchase program (the “2016 Share Repurchase Program”). Under the 2016 Share Repurchase Program, the Company may repurchase shares from time to time in open market transactions or in privately-negotiated transactions in accordance with applicable securities laws. The timing and the amount of any repurchases will be determined based on market conditions, legal requirements, cash flow and liquidity needs and other factors. The share repurchase program may be modified or suspended at any time, at the Company’s discretion. Share repurchases, which are recorded at cost and are held in the Company’s treasury, will be funded with available cash or with availability under the Credit Facility. As of March 31, 2016, no shares of the Company’s common stock have been repurchased under this program.
Accumulated Other Comprehensive Loss
Accumulated other comprehensive losses totaled $74.7 million and $72.4 million as of March 31, 2016 and December 31, 2015, respectively. For the three month period ended March 31, 2016 unrealized foreign currency translation gains totaled $5.6 million, and for the three month period ended March 31, 2015, unrealized foreign currency translation losses totaled $22.0 million. Unrealized foreign currency gains and losses relate primarily to fluctuations in foreign currency exchange rates of the Company’s foreign subsidiaries with a functional currency other than the U.S. dollar. Foreign currency activity is related primarily to the Company’s Canadian operations, including expansion of certain of the Company’s organic business operations into Canada. Unrecognized unrealized fair market value losses on interest rate swaps held by the Company’s equity method investments in the Waha JVs totaled $13.0 million, or $8.0 million net of tax, for the three month period ended March 31, 2016. See Note 4 - Fair Value of Financial Instruments.