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Common and Preferred Stock | 9 Months Ended
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Sep. 30, 2017
Equity [Abstract] |
Common and Preferred Stock | Common and Preferred Stock On December 1, 2015, the Company’s Board of Directors approved a $300.0 million increase in the authorized level for repurchases of common stock. Repurchases will be funded with future cash flow generation or borrowings available under the Revolving Facility. During the nine months ended September 30, 2017, the Company purchased a total of 222 thousand shares at a cost of $23.6 million, of which $1.0 million was settled in October 2017. During the nine months ended September 30, 2016, the Company purchased a total of 739 thousand shares at a cost of $55.0 million. As of September 30, 2017, the amount of share repurchase authorization remaining is $556.4 million. At September 30, 2017 and December 31, 2016, 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 outstanding at September 30, 2017 or December 31, 2016.

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