Treasury Stock

From time to time, our Board of Directors authorizes management to repurchase shares of our issued and outstanding common stock. Repurchases may be made to manage dilution created by shares issued under our stock incentive plans or whenever we deem a repurchase is a good use of our cash and the price to be paid is at or below a threshold approved by our Board. As of December 31, 2015, we had 300,000 shares available for repurchase under the Board's authorizations. On February 10, 2016, our Board increased these share repurchase authorizations by 100,000 shares bringing the total authorization as of the approval date to 400,000 shares.

Repurchased shares of our common stock were as follows:



	Year Ended December 31,
(In thousands)	2015		2014		2013
Shares repurchased	1,817		384		153
Cost of shares repurchased	$	89,395	$	16,168	$	3,607

Repurchased shares are recorded as shares held in treasury at cost. We hold these shares for future use as management and the Board of Directors deem appropriate, which has included compensating our outside directors. During the years ended December 31, 2014, and 2013, we issued 15,000, and 30,000 shares from treasury, respectively, to outside directors for services performed (see Note 16).