Shareholders' Equity

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

Shareholders’ equity

Shareholders’ equity

During the six months ended June 30, 2019, we declared cash dividends totaling $61.5 million and repurchased 3.5 million shares under our repurchase authorization for $108.5 million. For the six months ended June 30, 2018, we declared cash dividends totaling $52.0 million and repurchased 3.5 million shares under our repurchase authorization for $105.1 million. In May 2019, our board of directors approved a $500.0 million increase in our share repurchase authorization. At June 30, 2019, we had remaining authorization to repurchase $691.4 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 six months ended June 30, 2019 and 2018, participants surrendered shares valued at $10.4 million and $7.4 million, respectively, under these plans. Such share transactions are excluded from the above noted share repurchase authorization.