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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2016
Shareholders' Equity |
Shareholders' Equity | Note 9—Shareholders’ Equity In January 2015, the Board of Directors authorized a stock repurchase program under which the Company may repurchase up to 10 million shares of Common Stock during the two year period ending January 20, 2017 (the “2015 Stock Repurchase Program”). During the six months ended June 30, 2016, the Company repurchased 2.0 million shares of Common Stock for $108.4. These treasury shares have been retired by the Company and common stock and retained earnings were reduced accordingly. Through July 29, 2016, the Company repurchased an additional 0.7 million shares of Common Stock for $42.2. At July 29, 2016, approximately 2.8 million additional shares of Common Stock may be repurchased under the 2015 Stock Repurchase Program. The price and timing of any future purchases under the 2015 Stock Repurchase Program will depend on factors such as levels of cash generation from operations, the volume of stock option exercises by employees, cash requirements for acquisitions, dividends, economic and market conditions and stock price. Contingent upon declaration by the Board of Directors, the Company generally pays a quarterly dividend on shares of its Common Stock. In the third quarter of 2015, the Board of Directors approved an increase in the quarterly dividend rate from $0.125 to $0.14 per share effective with the third quarter 2015 dividend. For the three and six months ended June 30, 2016, the Company paid dividends in the amount of $43.0 and $86.3, respectively, and declared dividends in the amount of $43.2 and $86.3, respectively. For the three and six months ended June 30, 2015, the Company paid dividends in the amount of nil and $77.5, respectively, and declared dividends in the amount of $38.6 and $77.4, respectively.

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