Share Repurchases

On February 25, 2014, our Board of Directors authorized a plan to repurchase up to $350 million of our outstanding common shares, which replaced and terminated the August 26, 2011 share repurchase program. The authorization does not obligate the Company to acquire any particular number of common shares and may be commenced, suspended or discontinued without prior notice. The current authorized share repurchase program operates alongside the existing share maintenance program which we may use to repurchase shares vesting as part of employee compensation programs. The share repurchases are intended to be funded through the Company’s current and future cash and the authorization does not have an expiration date. The table below presents information on our share repurchases activity under the share repurchase authorizations:



	Three Months Ended March 31, 2015
	Number of Shares	Average Price per Share		Dollars in Millions
Repurchases under the $350 million authorized share repurchase program	604,032	$	15.14	$	9
Repurchases under the existing share maintenance program	467,658	$	15.69	$	7
Total	1,071,690	$	15.38	$	16

	Three Months Ended March 31, 2014
	Number of Shares	Average Price per Share		Dollars in Millions
Repurchases under the $350 million authorized share repurchase program	1,570,346	$	27.70	$	43
Repurchases under the existing share maintenance program	453,592	$	27.81	$	13
Total	2,023,938	$	27.72	$	56