COMMON STOCK REPURCHASES

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

COMMON STOCK REPURCHASES

COMMON STOCK REPURCHASES

In the second quarter of 2019, the Board approved a stock repurchase program (the "Repurchase Program") pursuant to which the Company may repurchase up to $75 million of the Company's common stock prior to April 18, 2021. Repurchases under the Repurchase Program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases depending on market conditions and corporate discretion. The Repurchase Program does not obligate the Company to acquire any particular amount of common stock and may be extended, modified, suspended or discontinued at any time at the Board's discretion. The stock repurchases are being funded using the Company's working capital. The Company did not repurchase any stock during the three months ended March 31, 2020. At March 31, 2020, the Company had $70.5 million remaining under the Repurchase Program for future repurchases.