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CAPITAL STOCK | 12 Months Ended
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Dec. 31, 2017
CAPITAL STOCK |
CAPITAL STOCK | NOTE 14 CAPITAL STOCK We have 199 million authorized shares of common stock. The number of shares of common stock and treasury stock and the share activity were as follows:
|  | Common Shares |  | Treasury Shares |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Balance at the beginning of the year |  | 66,012,843 |  | 66,685,378 |  | 3,865,863 |  | 4,168,489 |
Employee option exercises |  | 1,173,936 |  | 1,001,748 |  | (394,991) |  | (302,626) |
Director option exercises |  | — |  | 22,167 |  | — |  | — |
Restricted stock vestings |  | 67,708 |  | 30,228 |  | — |  | — |
Common stock repurchases |  | — |  | — |  | 1,411,017 |  | — |
Common stock repurchased and retired |  | (511,997) |  | (1,726,678) |  | — |  | — |
Balance at the end of the year |  | 66,742,490 |  | 66,012,843 |  | 4,881,889 |  | 3,865,863 |
The cash dividends paid on the common stock for the years ended December 31, 2017, 2016 and 2015 aggregated $79.9 million, $76.7 million and $71.2 million, respectively.

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