Subsequent Events |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subsequent Events [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subsequent Events |
14. Subsequent Events On April 18, 2018, the Company announced the commencement of a modified “Dutch auction” tender offer to purchase its common shares for an aggregate cash purchase price of up to $600 million and at a per share price not greater than $108.00 nor less than $98.00, net to the seller in cash, less any applicable tax withholding and without interest, upon the terms and subject to the conditions described in this tender offer. The preliminary closing date of this tender offer is May 24, 2018. The terms of this tender offer are subject to change pursuant to conditions set forth in this tender offer. On April 24, 2018, the Company’s shareholders approved a two-for-one stock split of the Company’s common shares. On May 14, 2018, shareholders of record will receive one additional share for each share held as of May 7, 2018. All common shares subject to outstanding equity awards, as well as the number of common shares reserved for issuance under the Company’s equity compensation plan, will be adjusted proportionately. Share and per share amounts herein have not been restated to reflect the pending stock split. On a pro forma basis, the Company’s historical earnings per share would be as follows:
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