Shareholders' Equity

9 Months Ended

Sep. 30, 2015

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, 2015 (in thousands):

Common stock and additional paid-in capital, December 31, 2014	$	1,396
Income tax benefit of common stock options exercised	3,487
Common stock issued pursuant to stock-based compensation plans, net	13,475
Stock-based compensation arrangements	19,362
Repurchase of common stock	(36,339		)
Common stock and additional paid-in capital, September 30, 2015	$	1,381

On February 5, 2015, the Company's Board of Directors authorized the repurchase of up to 15.0 million shares of the Company's outstanding common stock in the open market or through privately negotiated transactions. The authorization will expire on February 5, 2017. During the nine months ended September 30, 2015, the Company repurchased 3.2 million shares through open market transactions for a total of $93.4 million, of which $36.3 million reduced common stock and additional paid in capital and $57.0 million reduced retained earnings.

On September 4, 2015, the Company paid a dividend of $0.11 per share on its outstanding common stock to the shareholders of record as of the close of business on August 21, 2015. The total cash payments for dividends during the nine months ended September 30, 2015 were $46.2 million.