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Note 12 - Stock Repurchase Program
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Treasury Stock [Text Block]
12
. Stock Repurchase
Program
 
In
August 2015,
the Company’s Board of Directors approved a
$200,000
stock repurchase program, which the Company completed in the
third
quarter of
2016.
In
October 2016,
the Company’s Board of Directors approved an additional
$250,000
stock repurchase program. Under the
second
program, the Company
may
repurchase up to
$250,000
of its common stock over the
24
months following the date of approval. The Company
may
repurchase its common stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. The repurchases
may
be executed using open market purchases, privately negotiated agreements or other transactions. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of the Company’s common stock and general market and economic conditions, applicable legal requirements, and compliance with the terms of the Company’s outstanding indebtedness. The repurchases
may
be funded with cash on hand, available borrowings or proceeds from potential debt or other capital markets sources. The stock repurchase program
may
be suspended or discontinued at any time without prior notice. During the
nine
months ended
September 30, 2018
and
2017,
the Company repurchased
560,000
and
844,500
shares of its common stock, respectively, for
$25,656
and
$30,012,
respectively, all funded with cash on hand. Since the inception of both programs, the Company has repurchased
8,676,706
shares of its common stock for
$305,547,
all funded with cash on hand.
 
In
September 2018,
the Company’s Board of Directors approved another
$250,000
stock repurchase program, which will commence in
October 2018
upon the expiration of the previous stock repurchase program.