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Stock Repurchase Plan
6 Months Ended
Jun. 30, 2012
Stock Repurchase Plan

9. Stock Repurchase Plan

As of December 31, 2011, the Company’s board of directors had approved a stock repurchase program authorizing the Company, from time to time as market and business conditions warrant, to acquire up to $210 million of its common stock. In February 2012, the Company’s board of directors approved an increase of $52.1 million to their current stock repurchase authorization, bringing the total authorization to $262.1 million. Under the program to date, the Company has purchased 9,207,972 shares for approximately $231.1 million. The Company repurchased 1,125,792 shares for $44.1 million during the six months ended June 30, 2012. The maximum remaining dollar value of shares authorized for purchase under the stock repurchase program was approximately $31.0 million as of June 30, 2012.