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Share Repurchase Program and Treasury Stock
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
SHARE REPURCHASE PROGRAM AND TREASURY STOCK
SHARE REPURCHASE PROGRAM AND TREASURY STOCK
The Company has a share repurchase program of which there was $648.4 million common shares remaining to be repurchased under the program as of September 30, 2017. The share repurchases are expected to be funded from cash balances, borrowings and cash generated from operating activities. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors.
The Company has purchased 26.6 million shares since the inception of the program in 2004 through September 30, 2017. During the nine months ended September 30, 2017 and 2016, the Company spent $335.0 million and $375.0 million on the repurchase of 647,756 shares and 1,048,075 shares at an average price per share of $517.15 and $357.77, respectively. The Company also reissued 206,646 shares and 193,517 shares held in treasury for the exercise of stock options and restricted stock units during the nine months ended September 30, 2017 and 2016, respectively.