9. Stock Repurchase Programs

All common share and per share amounts have been adjusted for the two-for-one stock split in June 2013.

Under a resolution adopted in November 2011, the Board of Directors authorized the repurchase, at management’s discretion, of up to an aggregate of $125.0 million of the Company’s common stock. The resolution also authorized the use of option exercise proceeds for the repurchase of the Company’s common stock. During the nine months ended June 30, 2013, the Company repurchased 828,898 common shares at a cost of $27.0 million. The amount available for future repurchases was $102.2 million at June 30, 2013.

During the nine month period ended June 30, 2012, the Company repurchased 480,400 common shares at a cost of $8.9 million. These purchases were authorized by a share repurchase plan previously adopted by the Board of Directors and replaced by the plan adopted in November 2011.