XML 45 R18.htm IDEA: XBRL DOCUMENT v3.3.0.814
SHARE REPURCHASE PROGRAM
9 Months Ended
Sep. 30, 2015
Equity [Abstract]  
SHARE REPURCHASE PROGRAM

NOTE 12: SHARE REPURCHASE PROGRAM

During the third quarter of 2015, the Company repurchased 158,570 shares of common stock at an average purchase price of $17.74 per share for an aggregate purchase price of $2,813. During the third quarter of 2014, the Company repurchased 297,463 shares of common stock at an average purchase price of $14.74 per share for an aggregate purchase price of $4,385. During the first nine months ended September 30, 2015, the Company repurchased 428,590 shares of common stock at an average purchase price of $19.03 per share for an aggregate purchase price of $8,156. During the first nine months ended September 30, 2014, the Company repurchased 1,227,148 shares of common stock at an average purchase price of $15.20 per share for an aggregate purchase price of $18,657. As of September 30, 2015, 571,410 shares of common stock remained available for repurchase pursuant to the Company’s share repurchase program.

The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505-30, “Treasury Stock” and charges the excess of the repurchase cost over issuance price using the weighted average method to retained earnings. The purchase cost is calculated based on the specific identified method. In the case where the repurchase cost over issuance price using the weighted average method is lower than the issuance price, the Company credits the difference to additional paid-in capital.