Shareholders' Equity

9 Months Ended

Sep. 30, 2018

Stockholders' Equity Note [Abstract]

Shareholders’ equity

Shareholders’ equity

During the nine months ended September 30, 2018, we declared cash dividends totaling $77.7 million and repurchased 5.8 million shares under our repurchase authorization for $172.1 million. For the nine months ended September 30, 2017, we declared cash dividends totaling $83.7 million and repurchased 27.8 million shares under our repurchase authorization for $659.8 million. At September 30, 2018, we had remaining authorization to repurchase $422.4 million of common shares.

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 nine months ended September 30, 2018 and 2017, participants surrendered shares valued at $7.4 million and $6.0 million, respectively, under these plans. Such share transactions are excluded from the above noted share repurchase authorization.