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Shareholders' Equity
 9 Months Ended
Sep. 30, 2014
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
Shareholders’ equity

During the nine months ended September 30, 2014, we declared three quarterly cash dividends of $0.05 per common share each for an aggregate $56.7 million. In October 2014, the board of directors declared an increase to the quarterly cash dividend to $0.08 per common share.

During the nine months ended September 30, 2014, we repurchased 7.7 million shares under our repurchase authorization for a total of $147.8 million. Such repurchases are reflected as reductions of common stock and retained earnings. At September 30, 2014, we had remaining authorization to repurchase $86.4 million of common shares. In October 2014, our board of directors approved an increase of $750.0 million to such authorization.

Under our stock-based compensation plans, we accept shares as payment under certain conditions related to stock option exercises and vesting of shares, generally related to the payment of minimum tax obligations. During the nine months ended September 30, 2014 and 2013, employees surrendered shares valued at $7.2 million and $6.9 million, respectively, under these plans. Such share transactions are excluded from the above noted stock repurchase authorization.