Shareholders' Equity

6 Months Ended

Jun. 30, 2011

Shareholders' Equity [Abstract]

Shareholders' Equity

Note 6. Shareholders’ Equity

     Cooper Industries plc has common shares, $.01 par value outstanding of 164,982,315 (net of 7,183,173 treasury shares) and 164,130,802 (net of 6,537,900 treasury shares) at June 30, 2011 and December 31, 2010, respectively. During the first six months of 2011, Cooper issued 1,496,786 common shares primarily in connection with employee incentive and benefit plans and Cooper’s dividend reinvestment program. During the first six months of 2011, Cooper Industries plc purchased 645,273 shares of treasury stock at an average price of $62.68 per share under the Board of Directors authorizations discussed below.

     On February 9, 2009, Cooper’s Board of Directors authorized the purchase of ten million shares of common stock. Cooper’s Board has also authorized the repurchase of shares issued from time to time under its equity compensation plans, matched savings plan and dividend reinvestment plan in order to offset the dilution that results from issuing shares under these plans. For 2011 Cooper’s current estimate is that 3 million shares would be issued under equity compensation plans. Cooper may continue to repurchase shares under these authorizations from time to time during 2011. The decision whether to do so will depend on the favorability of market conditions, as well as potential cash requirements for acquisitions and debt repayments. As of June 30, 2011, 11,083,462 shares remain available to be repurchased under the authorizations by the Board of Directors.