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TREASURY STOCK PURCHASE
12 Months Ended
Dec. 31, 2014
TREASURY STOCK PURCHASE  
TREASURY STOCK PURCHASE

 

12.      TREASURY STOCK PURCHASE

 

On April 7, 2013, the Company’s Board of Directors authorized a new share repurchase program for the repurchase of up to $200.0 million of the Company’s outstanding common stock (the “April 2013 Repurchase Plan”). During the year ended December 31, 2014, no shares of common stock were purchased under the April 2013 Repurchase Plan. During the year ended December 31, 2013, the Company purchased 0.951 million shares of common stock under the April 2013 Repurchase Plan at an average purchase price of $56.98 per share for a total amount of $54.2 million (excluding broker commissions).

 

During the year ended December 31, 2014, 0.09 million shares were purchased from employees in lieu of cash payments for options exercised or withholding taxes due for a total amount of $8.2 million. While such purchases are considered common stock repurchases, they are not counted as purchases against the Company’s authorized share repurchase programs, including the April 2013 Repurchase Plan.