Repurchases Of Common Stock

9 Months Ended

Sep. 30, 2021

REPURCHASES OF COMMON STOCK

We primarily acquire shares by repurchases in the open market. However, we also acquire shares that are surrendered by employees in payment for the minimum required statutory withholding taxes due on the vesting of restricted stock units and the settlement of deferred stock units, otherwise referred to herein as employee surrenders. We issue shares of treasury stock upon the vesting of certain restricted stock units and upon the exercise of certain stock options. The number of shares of treasury stock issued during the three and nine months ended September 30, 2021 and 2020 was not material.

The following is a summary of our open market common stock repurchases, reported on a trade date basis, and shares acquired through employee surrender:


(in thousands, except per share amounts)	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020

Shares repurchased in the open market	274		—		892		721
Shares acquired through employee surrender for statutory tax withholding (1)	1		1		29		31
Total shares repurchased	275		1		921		752

Cost of shares repurchased in the open market	$	183,315	$	—	$	510,937	$	179,623
Cost of shares for employee surrenders	515		360		15,501		9,029
Total cost of shares	$	183,830	$	360	$	526,438	$	188,652

Average cost per share - open market repurchases	$	668.33	$	—	$	572.10	$	249.20
Average cost per share - employee surrenders	$	688.35	$	393.12	$	547.90	$	292.03
Average cost per share - total	$	668.38	$	393.12	$	571.36	$	250.96

(1) For the quarters ended September 30, 2021 and 2020, the number of shares acquired though employee surrender for statutory tax withholding were below rounding thresholds.