XML 29 R16.htm IDEA: XBRL DOCUMENT v3.4.0.3
Share Repurchase Program
3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Share Repurchase Program [Text Block]
Share Repurchase Program

The Company's Board of Directors authorized a share repurchase program (the “Share Repurchase Program”), effective as of January 1, 2004. The Share Repurchase Program does not have a fixed expiration or termination date and may be modified or terminated by the Board of Directors at any time. On several occasions the Board of Directors has increased the amount authorized for repurchase. The Share Repurchase Program permits the Company to effect repurchases from time to time through a combination of open market repurchases or in privately negotiated transactions at such prices and times as are determined to be in the best interest of the Company. On February 22, 2016, the Board of Directors approved the extension of the Share Repurchase Program for an additional $136,000 in repurchases of the Company's common stock. During the three months ended March 31, 2016, an aggregate of 391,685 shares of the Company's common stock were repurchased under the Share Repurchase Program, at an average

Note J – Share Repurchase Program (continued)

price per share of $35.83, for an aggregate purchase price of approximately $14,034. As of March 31, 2016, approximately $186,054 remained available for future repurchases under the Share Repurchase Program.