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Repurchases of Common Stock | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Repurchases of Common Stock | REPURCHASES OF COMMON STOCK As of December 31, 2020, our Board of Directors has authorized the repurchase of u p to 73.0 million sh ares of our common stock in the open market or in negotiated transactions pursuant to the Company’s share repurchase program. We believe that the repurchase of our common stock is a favorable means of returning value to our stockholders, and we also repurchase to offset the dilutive effect of our share-based compensation programs. Repurchases of our common stock may vary depending upon the level of other investing activities and the share price. As of December 31, 2020, there are approximate ly 6.3 million rem aining shares available for repurchase under this authorization. We primarily acquire shares by repurchases in the open market. However, we also acquire shares that are surrendered by employees in payment for the minimum required statutory withholding taxes due on the vesting of restricted stock units and the settlement of deferred stock units, otherwise referred to herein as employee surrenders. We issue shares of treasury stock upon the vesting of certain restricted stock units and upon the exercise of certain stock options. The number of shares of treasury stock issued during the years ended December 31, 2020, 2019 and 2018, was not material. The following is a summary of our open market common stock repurchases, reported on a trade date basis, and shares acquired through employee surrenders:
(in thousands, except per share amounts) |  | For the Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Shares repurchased in the open market |  | 721 |  |  | 1,215 |  |  | 1,773 |
Shares acquired through employee surrenders for statutory tax withholding |  | 58 |  |  | 39 |  |  | 52 |
Total shares repurchased |  | 779 |  |  | 1,254 |  |  | 1,825 |
Cost of shares repurchased in the open market |  | $ | 179,623 |  |  | $ | 303,838 |  |  | $ | 368,691 |
Cost of shares for employee surrenders |  | 20,603 |  |  | 8,054 |  |  | 9,375 |
Total cost of shares |  | $ | 200,226 |  |  | $ | 311,892 |  |  | $ | 378,066 |
Average cost per share - open market repurchases |  | $ | 249.20 |  |  | $ | 249.84 |  |  | $ | 207.92 |
Average cost per share - employee surrenders |  | $ | 354.98 |  |  | $ | 210.10 |  |  | $ | 182.18 |
Average cost per share - total |  | $ | 257.08 |  |  | $ | 248.62 |  |  | $ | 207.19 |

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2208821 + Details
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