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Shareholders' Equity
 12 Months Ended
Dec. 31, 2014
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
SHAREHOLDERS’ EQUITY
A summary of shares repurchased under our share repurchase program authorized by our Board of Directors follows:
 
2014
 
2013
 
2012
Shares repurchased
9.4

 
1.1

 
16.6

Aggregate purchase price
$
485.1

 
$
53.5

 
$
580.6

Average purchase price per share
$
51.59

 
$
47.37

 
$
34.89


As of December 31, 2014, $280.6 million remained available for share repurchases under the program.
We have 5.0 million authorized shares of preferred stock, par value $0.01 per share, none of which are issued or outstanding. The Board of Directors has the authority to issue the preferred stock in one or more series and to establish the rights, preferences, and dividends.
A summary of shares of common stock issued in connection with the exercise of stock options follows:
 
 
2014
 
2013
 
2012
Shares issued
1.7

 
1.1

 
1.7

Proceeds from the exercise of stock options
$
35.1

 
$
22.7

 
$
32.0

Average exercise price per share
$
20.50

 
$
20.31

 
$
19.33



The following table presents a summary of shares of common stock issued in connection with grants of restricted stock and shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock or to pay for an option exercise (in actual number of shares):
 
2014
 
2013
 
2012
Shares issued
154,540

 
137,144

 
160,740

Shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock or to pay for an option exercise
46,752

 
44,738

 
81,717