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Common and Preferred Stock | 12 Months Ended
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Dec. 31, 2013
Equity [Abstract] |
Common and Preferred Stock | Common and Preferred Stock On November 8, 2013, the Company’s Board of Directors approved an increase in the authorized level for repurchases of common stock by $300.0 million. Repurchases under the program will be funded with future cash flow generation. During 2013, the Company purchased a total of 2.9 million shares at a cost of $167.5 million compared to 2.2 million shares purchased at a cost of $89.6 million in 2012. As of December 31, 2013 there was $368 million remaining under authorized repurchases. At December 31, 2013 and 2012, the Company had 150 million shares of authorized common stock, with a par value of $.01 per share and 5 million shares of authorized preferred stock with a par value of $.01 per share. No preferred stock was issued as of December 31, 2013 and 2012.

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