Shareholders' Equity

6 Months Ended

Jun. 30, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The following table summarizes the common stock and additional paid-in capital activity during the six months ended June 30, 2016 (in thousands):

Common stock and additional paid-in capital, December 31, 2015	$	1,374
Income tax benefit of common stock options exercised	1,451
Common stock issued pursuant to stock-based compensation plans, net	938
Stock-based compensation expense	14,375
Repurchase of common stock	(16,765		)
Common stock and additional paid-in capital, June 30, 2016	$	1,373

On February 5, 2015, the Company's Board of Directors authorized the repurchase in the open market or through privately negotiated transactions of up to 15.0 million shares of the Company's outstanding common stock. The authorization will expire on February 5, 2017. During the six months ended June 30, 2016, the Company repurchased 1.0 million shares for an aggregate purchase price of $29.7 million, of which $16.8 million reduced common stock and additional paid in capital and $12.9 million reduced retained earnings.

Note 14. Shareholders’ Equity - (Continued)

On June 3, 2016, the Company paid a dividend of $0.12 per share on its outstanding common stock to the shareholders of record as of the close of business on May 20, 2016. The total cash payments for dividends during the six months ended June 30, 2016 were $33.1 million.