Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

On June 2, 2016, our Board of Directors authorized a stock repurchase program of up to $100.0 million (the “Repurchase Program”). On each of May 18, 2017, December 1, 2017, February 21, 2019 and February 20, 2020, our Board of Directors authorized an additional $100.0 million, respectively. On July 28, 2020, our Board of Directors authorized an additional $200.0 million, increasing the Repurchase Program to an aggregate authorization of $700.0 million. No time limit has been established for the completion of the Repurchase Program, and the Repurchase Program may be suspended, discontinued or replaced by the Board of Directors at any time without prior notice. As of September 30, 2020, we have $182.4 million available under the Repurchase Program to repurchase additional shares.

The following table details our stock repurchases under the Repurchase Program: 

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Shares of common stock repurchased and retired	749		91		1,670		999
Average price paid per share	$	110.57	$	85.11	$	110.27	$	78.04
Total cost	$	82,852	$	7,732	$	184,196	$	77,929

Common stock outstanding was 36.0 million shares and 37.4 million shares as of September 30, 2020 and December 31, 2019, respectively. Common stock outstanding includes unvested restricted stock awards, which are considered issued and outstanding under the terms of the restricted stock award agreements.