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Stockholders' Equity (Notes)
 9 Months Ended
Sep. 30, 2016
Stockholders Equity Note [Abstract]  
Stockholders' Equity

(7) Stockholders’ Equity

A reconciliation of the number of shares of our common stock follows.

 

 

Nine months ended September 30,

 

 

 

2016

 

 

2015

 

 

 

(In thousands)

 

Common stock, beginning of period

 

 

48,297

 

 

 

52,169

 

Shares issued upon the exercise of stock options

 

 

108

 

 

 

89

 

Shares of common stock issued upon lapse

   of restricted stock units ("RSUs")

 

 

426

 

 

 

407

 

Common stock retired

 

 

(2,869

)

 

 

(4,094

)

Common stock, end of period

 

 

45,962

 

 

 

48,571

 

 

The above reconciliation excludes RSUs, which do not have voting rights. As the RSUs lapse, we issue common shares with voting rights. As of September 30, 2016, we had a total of approximately 1.1 million RSUs outstanding, excluding the performance-based vesting stock units (“PSUs”) discussed in Note 9 (Share-Based Transactions).

Our Board of Directors authorized a share repurchase program for up to $200.0 million of our outstanding common stock in August 2015 (the “share repurchase program”) for purchases through December 31, 2016.  Under the share repurchase program, we repurchased 3,831,300 shares of our common stock in open market transactions for an aggregate purchase price of approximately $181.5 million through September 30, 2016. As of September 30, 2016, there is approximately $18.5 million remaining for repurchases of our outstanding common stock under the share repurchase program.