Repurchases Of Common Stock

12 Months Ended

Dec. 31, 2017

Repurchases Of Common Stock [Abstract]

Repurchases Of Common Stock

NOTE 18.REPURCHASES OF COMMON STOCK

Our Board of Directors has authorized the repurchase of up to 68.0million shares of our common stock in the open market or in negotiated transactions pursuant to the Company’s share repurchase program. We believe that the repurchase of our common stock is a favorable means of returning value to our shareholders, and we also repurchase to offset the dilutive effect of our share-based compensation programs. Repurchases of our common stock may vary depending upon the level of other investing activities and the share price. As of December 31, 2017, there are approximately 5.0 million remaining shares available for repurchase under this authorization.

We primarily acquire shares by means of repurchases in the open market. However, we also acquire shares that are surrendered by employees in payment for the minimum required withholding taxes due on the vesting of restricted stock units and the settlement of deferred stock units, otherwise referred to herein as employee surrenders.

The following is a summary of our open market common stock repurchases and shares acquired through employee surrender for the years ended December 31, 2017, 2016 and 2015(in thousands, except per shareamounts):

	For the Years Ended December 31,
	2017		2016		2015
Share repurchases during the period(1)		1,749		3,071		5,659
Shares acquired through employee surrender(1)		57		60		69
Total shares repurchased(1)		1,806		3,131		5,728
Cost of share repurchases during the period	$	270,297	$	313,072	$	406,430
Cost of employee surrenders		8,074		4,372		5,457
Total cost of shares repurchased	$	278,371	$	317,444	$	411,887
Average cost per share - open market repurchase	$	154.51	$	101.96	$	71.82
Average cost per share - employee surrenders	$	142.55	$	73.04	$	72.55
Average cost per share - total	$	154.13	$	101.40	$	71.90

(1) Shares repurchased and acquired through employee surrender for payment of minimum required withholding taxes on and before June 15, 2015 and the associated average cost per share have been adjusted to reflect the June 2015 two-for-one stock split. Actual shares repurchased were approximately 4.3million for the year ended December 31, 2015.