Stock Split

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Stock Split

Equity

The decrease in common stock during the three and six months ended June 30, 2015, was primarily due to share repurchases of 1,427,469 shares and 2,834,064 shares, respectively, pursuant to the Company's previously announced share repurchase plan, which was partially offset by the the issuance of 1,188,583 shares of the Company’s common stock under the Company’s stock-based compensation plans for a net decrease of 1,645,481 shares.

The Company announced a $.005 per share increase in its quarterly cash dividend rate during the second quarter of 2015. As such, the Company recorded a cash dividend of $0.085 during the second quarter of 2015 as compared per to $.08 per share during the first quarter of 2015. The second quarter dividend of $25.0 million, was declared on May 21, 2015, and was paid on July 17, 2015.

Stock Split

On December 5, 2014, the Company announced that its Board of Directors approved a two-for-one split of our outstanding shares of common stock to be effected in the form of a 100% stock dividend. On December 31, 2014, shareholders of record at the close of business on December 17, 2014, were issued one additional share of common stock for each share owned by such shareholder. The stock split increased the number of shares of common stock outstanding from approximately 147.6 million to approximately 295.2 million. Share and per-share amounts (including stock options and restricted stock) shown in the consolidated financial statements and related notes reflect the split. The total number of authorized common shares and the par value thereof was not changed by the split.