Shareholders' equity

12 Months Ended

Dec. 31, 2011

Shareholders' equity [Abstract]

Shareholders' equity

Note 15: Shareholders' equity

Shares outstanding – Changes in common shares outstanding during the years ended December 31 were as follows:

	2011			2010			2009
Balance, beginning of year		51,338			51,189			51,131
Issued		499			410			237
Repurchased		(940	)		(167	)		(120	)
Retired		(71	)		(94	)		(59	)
Balance, end of year		50,826			51,338			51,189

Share repurchases – We have an outstanding authorization from our board of directors to purchase up to 10,000 shares of our common stock. This authorization has no expiration date, and 5,257 shares remained available for purchase under this authorization as of December 31, 2011. During 2011, we repurchased 940 shares for $23,620, during 2010 we repurchased 167 shares for $2,999 and during 2009 we repurchased 120 shares for $1,319.

Common stock purchase rights – In February 1988, we adopted a shareholder rights plan under which common stock purchase rights automatically attach to each share of common stock we issue. The rights plan is governed by a rights agreement between us and Wells Fargo Bank, National Association, as rights agent. This agreement most recently was amended and restated as of December 20, 2006 (Restated Agreement).

Pursuant to the Restated Agreement, upon the occurrence of certain events, each right will entitle the holder to purchase one share of common stock at an exercise price of $100 per share. The exercise price may be adjusted from time to time upon the occurrence of certain events outlined in the Restated Agreement. In certain circumstances described in the Restated Agreement, if (i) any person becomes the beneficial owner of 20% or more of the company's common stock, (ii) the company is acquired in a merger or other business combination or (iii) upon the occurrence of other events, each right will entitle its holder to purchase a number of shares of common stock of the company, or the acquirer or the surviving entity if the company is not the surviving corporation in such a transaction. The number of shares purchasable at the then-current exercise price will be equal to the exercise price of the right divided by 50% of the then-current market price of one share of common stock of the company, or other surviving entity, subject to adjustments provided in the Restated Agreement. The rights expire December 31, 2016, and may be redeemed by the company at a price of $.01 per right at any time prior to the occurrence of the circumstances described above. The Restated Agreement requires an independent director review of the plan at least once every three years. The most recent review was completed in December 2009.

Accumulated other comprehensive loss – The components of accumulated other comprehensive loss as of December 31 were as follows:

	2011			2010			2009
Postretirement and defined benefit pension plans:
Unrealized prior service credit	$	13,321		$	15,651		$	17,978
Unrealized net actuarial losses		(75,599	)		(68,343	)		(70,328	)
Postretirement and defined benefit pension plans, net of tax		(62,278	)		(52,692	)		(52,350	)
Loss on derivatives, net of tax(1)		(2,931	)		(4,522	)		(5,841	)
Net unrealized gain on marketable securities, net of tax		178			13			-
Currency translation adjustment		5,630			7,189			5,373
Accumulated other comprehensive loss	$	(59,401	)	$	(50,012	)	$	(52,818	)

(1) Relates to interest rate locks executed in 2004 and 2002. See Note 6 for further information regarding these financial instruments.