Shareholders' Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

In February 2009, the Company’s Board of Directors authorized the repurchase of up to 20.0 million shares of the Company’s outstanding shares of common stock in the open market. The February 2009 authorization expired in February 2011. In February 2011, the Company’s Board of Directors authorized the repurchase of up to 20.0 million shares of the Company’s outstanding shares of common stock in the open market. This authorization expires in February 2013. Under these authorizations, the Company has repurchased 6,135,000 shares for a total of $160.7 million, 1,306,000 shares for a total of $35.7 million and 3,232,000 shares for a total of $73.2 million during the years ended December 31, 2011, 2010 and 2009, respectively.

On February 9, 2011, the Company’s Board of Directors adopted a dividend policy under which the Company intends to pay quarterly cash dividends on its common stock. During the year ended December 31, 2011, the Company paid dividends quarterly at the rate of $0.06 per share for a total of $38.0 million.