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Capital Stock
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Capital Stock
CAPITAL STOCK

In January 2013, the Company's Board of Directors authorized a repurchase program for up to 1,500,000 shares of the Company's outstanding common stock. The Company completed the 1,500,000 share repurchase program on August 21, 2014, with a total of 729,000 shares of its common stock repurchased during fiscal 2013 and 771,000 shares repurchased during fiscal 2014. The total shares repurchased were at an average price of $55.09 per share.

In January 2015, the Company’s Board of Directors authorized a new repurchase program for up to 2,000,000 shares of the Company’s outstanding common stock. The Board of Directors made this determination after considering the Company's liquidity needs and capital resources as well as the estimated current value of the Company's assets. During fiscal 2015, the Company repurchased 852,000 shares of its common stock at an aggregate cost of $39,974,000 at an average price of $46.94 per share and 1,148,000 shares remain available for repurchase under the repurchase program. Under its new share repurchase program, the Company can purchase common stock in open market transactions, block or privately negotiated transactions, and may from time to time purchase shares pursuant to a trading plan in accordance with Rule 10b5-1 and Rule 10b-18 under the Exchange Act, or by any combination of such methods. The number of shares to be purchased and the timing of the purchases are based on a variety of factors, including, but not limited to, the level of cash balances, credit availability, debt covenant restrictions, general business conditions, regulatory requirements, the market price of the Company's stock and the availability of alternative investment opportunities. No time limit was set for completion of repurchases under the new authorization and the program may be suspended or discontinued at any time.