Question-and-Answer Session
Operator
(Operator Instructions). We do show one question coming from the phone from Terry Babe from ThinkEquity Partners.
Terry Babe - ThinkEquity Partners
Good afternoon, Dennis.
Dennis McGonigle
Hi, Terry. How are you?
Terry Babe - ThinkEquity Partners
Doing well. Just a question on LSV. Can you talk about the new product pipeline for LSV and any potential timing for new products?
Dennis McGonigle
Generally speaking I guess it is safe to say they are not -- I don't know if they have anything imminent in terms of new products come in to market. They do look at new ideas on how to expand their current capabilities across other market capitalizations or new market entry. But I can't say they have anything that is imminent coming to market.
Terry Babe - ThinkEquity Partners
Okay. That's all I had.
Dennis McGonigle
Okay.
Operator
Thank you once again. (Operator Instructions). And next question comes from Robert Lee from KBW.
Robert Lee - KBW
Thanks. Good afternoon Dennis.
Dennis McGonigle
Hi Rob.
Robert Lee - KBW
Two quick questions for you. The tax rate, should we -- is there something one-time in the quarter that made it dip down, or is this something we should be thinking of the go forward tax rate?
Dennis McGonigle
Future like fourth quarter rate we would expect to kick on the back in line with second quarter's rate, and that is somewhere around 37, 38%. The dip down this quarter is -- third quarter is a typically a statutory expiration quarter. So we do get occasionally some pickup when the statute runs down on different filing years. And also some of our tax planning we were able to pick up the benefit on some foreign losses.
Robert Lee - KBW
Okay. And second question is on actually share repurchases. You had a pretty healthy share repurchase in the quarter, and I guess it was yesterday or the day before, you upped your authorization, and it was a little bit larger than you normally do. Usually I guess you do it in $50 million chunks, and this time you did it in a $100 million chunk. I'm reading too much into it to think that maybe there's some kind of sign that you have reached the plateau or peak in terms of your capital needs and if you feel more comfortable stepping up your share buyback? Or am I reading too much into that?
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