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Shareholders' Equity
 6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Shareholders' Equity
Shareholders' Equity

The Company has three classes of common stock as follows (share data in millions):

 
 
 
Issued Common Stock
 
Authorized Shares
 
Outstanding
 
Treasury
 
Total Issued Shares
Class A stock ($0.025 par value)
80.0

 
 
 
 
 
 
June 30, 2016
 
 
35.8

 
4.2

 
40.0

December 31, 2015
 
 
35.4

 
4.6

 
40.0

 
 
 
 
 
 
 
 
Class B stock ($0.025 par value)
80.0

 
 
 
 
 
 
June 30, 2016
 
 
14.2

 
0.8

 
15.0

December 31, 2015
 
 
14.2

 
0.8

 
15.0

 
 
 
 
 
 
 
 
Class C stock ($0.025 par value)
20.0

 
 
 
 
 
 
June 30, 2016
 
 
—

 
0.5

 
0.5

December 31, 2015
 
 
—

 
0.5

 
0.5


In accordance with the Articles of Incorporation, each class A common share has one vote per share and each class B and class C common share has ten votes per share on all matters voted upon by the Company's shareholders. Liquidation rights are the same for all three classes of common stock.

The Company also has 0.5 million shares of $0.01 par value preferred stock authorized, of which none were issued at June 30, 2016, and December 31, 2015. The Company has no present plans to issue any preferred stock.

On September 6, 2011, the Company's Board of Directors authorized a share repurchase program of up to $100.0 million of the Company's outstanding class A common stock. There were no share repurchases during the three months ended June 30, 2016. During the six months ended June 30, 2016, the Company repurchased 984,190 shares of its class A common stock at a weighted average price of $8.96 per share for a total purchase price of $8.8 million. As of June 30, 2016, there were $82.9 million of authorized repurchases remaining under the program.

In accordance with the Articles of Incorporation, dividends are paid equally for all three classes of common shares. The dividend activity related to the then outstanding shares for the six months ended June 30, 2016 and 2015, was as follows:

 
Declaration Date
 
Record Date
 
Payment Date
 
Dividend Amount
per Share
2016
 
 
 
 
 
 
 
Q2 Dividend
May 3, 2016
 
June 6, 2016
 
June 17, 2016
 
$
0.30

Q1 Dividend
February 19, 2016
 
March 7, 2016
 
March 18, 2016
 
0.30

2015
 
 
 
 
 
 
 
Q2 Dividend
May 5, 2015
 
June 8, 2015
 
June 19, 2015
 
$
0.30

Q1 Dividend
February 23, 2015
 
March 9, 2015
 
March 20, 2015
 
0.30



Activity impacting shareholders' equity for the six months ended June 30, 2016, was as follows:

 
Shareholders' Equity
Balance at December 31, 2015
$
423.9

Net loss
(3.9
)
Foreign currency translation adjustments
7.1

Cash dividends declared
(31.4
)
Stock-based compensation
8.2

Purchases of treasury stock
(8.8
)
Sale of stock for options exercised
1.7

Shares withheld from employees for the tax obligations paid on equity grants
(1.4
)
Balance at June 30, 2016
$
395.4