Shareholders' Equity

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The following table summarizes the common stock and additional paid-in capital activity during the nine months ended September 30, 2014 (in thousands):

Common stock and additional paid-in capital, December 31, 2013	$	42,955
Income tax benefit of common stock options exercised	8,477
Common stock issued pursuant to stock-based compensation plans, net	25,464
Stock-based compensation expense	23,937
Repurchase of common stock	(76,624		)
Common stock and additional paid-in capital, September 30, 2014	$	24,209

During the nine months ended September 30, 2014, the Company repurchased approximately 2,264,000 shares of the Company's common stock through open market transactions. The repurchases were under the February 2013 authorization by the Company’s Board of Directors pursuant to which the Company is authorized to repurchase up to 25.0 million shares of the Company’s outstanding common stock. This authorization expires in February 2015.

On February 9, 2011, the Company’s Board of Directors adopted a dividend policy under which the Company intends to pay quarterly cash dividends on its common stock. Accordingly, a dividend of $0.10 per share of outstanding common stock was paid on September 5, 2014 to shareholders of record as of the close of business on August 19, 2014. The total cash payments for dividends in the nine months ended September 30, 2014 was $42.4 million.