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SHAREHOLDERS’ EQUITY | 12 Months Ended
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Dec. 31, 2018
Equity [Abstract] |
SHAREHOLDERS’ EQUITY | SHAREHOLDERS’ EQUITY We make repurchases of our common stock mainly through the use of open market purchases and, at times, through accelerated share repurchase programs ("ASRs"). As of December 31, 2018, we were authorized to repurchase up to $387.8 million of our common stock. On February 5, 2019, the board of directors increased its authorization to repurchase shares of our common stock to $750 million, inclusive of prior share repurchase programs authorized by the board and repurchases made thereunder. Information about shares repurchased and retired was as follows for the periods indicated:
| Year Ended December 31, |  | Seven Months Ended December 31, |  | Year Ended May 31,
| 2018 |  | 2017 |  | 2016 |  | 2016
| (in thousands, except per share amounts)
Number of shares repurchased and retired | 1,927 |  |  | 376 |  |  | 2,518 |  |  | 2,152 |
Cost of shares repurchased, including commissions | $ | 212,196 |  |  | $ | 34,811 |  |  | $ | 178,165 |  |  | $ | 135,954 |
Average cost per share | $ | 110.11 |  |  | $ | 92.51 |  |  | $ | 70.77 |  |  | $ | 63.17 |
On April 25, 2016, we entered into an ASR with a financial institution to repurchase an aggregate of $50 million of our common stock. In exchange for an up-front payment of $50 million, the financial institution committed to deliver a number of shares during the ASR's purchase period, which ended on June 23, 2016. On April 26, 2016, 545,777 shares were initially delivered to us. At May 31, 2016, we accounted for the variable component of remaining shares to be delivered under the ASR as a forward contract indexed to our common stock which met all of the applicable criteria for equity classification. On June 23, 2016, an additional 127,435 shares were delivered to us. The total number of shares delivered under this ASR was 673,212 shares at an average price of $74.27 per share. In addition to shares repurchased under the ASR during the year ended May 31, 2016, we repurchased and retired 1.5 million shares of our common stock at a cost of $85.9 million, or an average cost of $58.12 per share, including commissions, through open market repurchase plans.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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