Annual report pursuant to Section 13 and 15(d)

Common Stock (Notes)

Common Stock (Notes)
12 Months Ended
Dec. 31, 2015
Common Stock [Abstract]  
Common stock
Common Stock
Since October 2010, the Company’s Board of Directors has approved common stock repurchases of up to 3,500,000 shares. Shares may be purchased at prevailing market prices in the open market or in private transactions, subject to market conditions, share price, trading volume and other factors. The repurchase program may be discontinued at any time. The repurchase program has been funded to date using cash on hand. The Company repurchased no shares under the share repurchase program during the years ended December 31, 2015, 2014 and 2013. As of December 31, 2015, 778,365 shares were available under the Board authorizations.