Share repurchases

9 Months Ended

Sep. 30, 2019

The following table summarizes the Company's repurchases of its common stock during the three and nine months ended September 30, 2019.



	Three months ended September 30, 2019					Nine months ended September 30, 2019
	Shares repurchased	Amount paid		Average amount		Shares repurchased	Amount paid		Average amount
Tender Offer⁽¹⁾	21,802	$	1,233,886	$	56.60	21,802	$	1,233,886	$	56.60
Open market repurchases	8,790	514,082		58.49		10,850	626,271		57.72
	30,592	$	1,747,968	$	57.14	32,652	$	1,860,157	$	56.97


(1)	The amount paid for shares repurchased associated with the Company's Tender Offer during the three and nine months ended September 30, 2019 includes the clearing price of $56.50 per share plus related fees and expenses of $2,074.

In addition, the Company also repurchased 4,283 shares of its common stock for $245,544 at an average cost of $57.32 per share, subsequent to September 30, 2019 through November 4, 2019.

Effective July 17, 2019, the Board terminated all remaining prior share repurchase authorizations available to the Company at that time and approved a new share repurchase authorization of $2,000,000. As of the close of business on November 4, 2019, the Company had repurchased a total of 30,661 of shares of its common stock for $1,753,627 under this repurchase authorization.

Effective as of the close of business on November 4, 2019, the Board terminated all remaining prior share repurchase authorizations available to the Company under the aforementioned July 17, 2019 authorization and approved a new share repurchase authorization of $2,000,000. Accordingly, as of November 6, 2019, the Company had a total of $2,000,000 available under the current repurchase authorization for additional share repurchases. Although this share repurchase authorization does not have an expiration date, the Company remains subject to share repurchase limitations, including under the terms of its current senior secured credit facilities and the indentures governing its senior notes.