Shareholders' Equity

3 Months Ended

Mar. 31, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ equity

During the three months endedMarch 31, 2016, we declared cash dividends totaling $31.5 million and repurchased 3.1 million shares under our repurchase authorization for a total of $50.0 million. At March 31, 2016, we had remaining authorization to repurchase $554.8 million of common shares. During the three months endedMarch 31, 2015, we declared cash dividends totaling $29.4 million and repurchased 4.6 million shares under our repurchase authorization for a total of $99.6 million.

Under our share-based compensation plans, we accept shares as payment under certain conditions related to stock option exercises and vesting of shares, generally related to the payment of minimum tax obligations. During the three months endedMarch 31, 2016 and 2015, employees surrendered shares valued at $2.7 million and $8.3 million, respectively, under these plans. Such share transactions are excluded from the above noted share repurchase authorization.