Newell Brands Inc. is reinstating its stock repurchase program that the company voluntarily suspended in the fourth quarter of 2015, in association with the Jarden transaction.

Under the current authorization, which is effective through the end of 2017, approximately $256 million of the original $500 million is available for the repurchase of the company’s common shares. Under the program, the company’s common shares may be purchased through a combination of a 10b5-1 automatic trading plan and discretionary purchases on the open market or in privately negotiated transactions. The amount and timing of any purchases will depend on several factors, including trading price, trading volume and general market conditions.

Newell Brands is ahead of its original schedule to deleverage the company and is on track to achieve its leverage ratio target of 3.0 to 3.5 times in 2018.

Newell Brands include Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.