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TREASURY STOCK
3 Months Ended
Mar. 31, 2017
TREASURY STOCK  
TREASURY STOCK

 

12.       TREASURY STOCK

 

On February 28, 2017, the Company’s Board of Directors authorized a new share repurchase program for the purchase of up to $500.0 million of our outstanding common stock (the “February 2017 Repurchase Plan”). As of May 5, 2017, no shares have been repurchased pursuant to the February 2017 Repurchase Plan.

 

During the three-months ended March 31, 2017, 1,397 shares of common stock were purchased from employees in lieu of cash payments for options exercised or withholding taxes due for a total amount of $0.1 million. While such purchases are considered common stock repurchases, they are not counted as purchases against the Company’s authorized share repurchase programs. Such shares are included in common stock in treasury in the accompanying condensed consolidated balance sheet at March 31, 2017.