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Share repurchases
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Share repurchases
Share repurchases
The following table summarizes the Company's common stock repurchases during the three and nine months ended September 30, 2020 and 2019:
 
Three months ended September 30,
 
Nine months ended September 30,
 
2020
 
2019
 
2020
 
2019
Open market repurchases:
 
Shares
250

 
8,790

 
4,302

 
10,850

Amount paid
$
21,259

 
$
514,082

 
$
324,398

 
$
626,271

Average paid per share
$
85.04

 
$
58.49

 
$
75.40

 
$
57.72

 
 
 
 
 
 
 
 
Tender Offer(1):
 
 
 
 
 
 
 
Shares
7,982

 
21,802

 
7,982

 
21,802

Amount paid
$
704,180

 
$
1,233,886

 
$
704,180

 
$
1,233,886

Average paid per share
$
88.22

 
$
56.60

 
$
88.22

 
$
56.60

 
 
 
 
 
 
 
 
Total :
 
 
 
 
 
 
 
Shares
8,232

 
30,592

 
12,284

 
32,652

Amount paid
$
725,439

 
$
1,747,968

 
$
1,028,578

 
$
1,860,157

Average paid per share
$
88.13

 
$
57.14

 
$
83.73

 
$
56.97




(1)
The aggregate amount paid for shares repurchased pursuant to the Company's Tender Offers during the three and nine months ended September 30, 2020 and 2019 includes their clearing prices of $88.00 and $56.50 per share, respectively, plus related fees and expenses of $1,792 and $2,074, respectively.
In the third quarter of 2020, the Company used cash on hand to repurchase 7,982 shares of common stock under the modified “Dutch auction” tender offer (the Tender Offer) for a total cost of $704,180, including fees and expenses.
In addition, the Company repurchased 1,828 shares of its common stock for $160,783 at an average cost of $87.96 per share, subsequent to September 30, 2020 through October 28, 2020.
Effective as of the close of business on November 4, 2019, the Board terminated all remaining prior share repurchase authorizations available to the Company and approved a new share repurchase authorization of $2,000,000. As of October 28, 2020, the Company had a total of $515,926 available under the current 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.