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Shareholders' Equity
 3 Months Ended
Mar. 31, 2016
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
SHAREHOLDERS’ EQUITY
A summary of shares repurchased under our stock repurchase program authorized by our Board of Directors follows:
 
Three Months Ended
 
March 31,
 
2016
 
2015
Shares repurchased
7.9

 
0.2

Aggregate purchase price
$
370.6

 
$
9.1

Average purchase price per share
$
47.20

 
$
60.46



In February 2016, our Board of Directors authorized the repurchase of an additional $250.0 million of shares of our common stock. As of March 31, 2016, $175.0 million remained available for share repurchases under the program.
A summary of shares of common stock issued in connection with the exercise of stock options follows:
 
Three Months Ended
 
March 31,
 
2016
 
2015
Shares issued (in actual number of shares)
26,261

 
617,760

Proceeds from the exercise of stock options
$
0.6

 
$
12.4

Average exercise price per share
$
22.94

 
$
20.15



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 (in actual number of shares):
 
Three Months Ended
 
March 31,
 
2016
 
2015
Shares issued
138,424

 
155,328

Shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock
8,760

 
8,999