Shareholders' Equity

9 Months Ended

Sep. 30, 2011

Shareholders' Equity

Note 14. Shareholders’ Equity

The following table summarizes the common stock and additional paid-in capital activity during the nine months ended September 30, 2011 (in thousands):

Common stock and additional paid-in capital, December 31, 2010	$	465,467
Income tax benefit of common stock options exercised		4,729
Common stock issued pursuant to stock-based compensation plans, net		10,291
Stock-based compensation expense		19,435
Repurchase of common stock		(124,384	)
Common stock and additional paid in capital, September 30, 2011	$	375,538

During the nine months ended September 30, 2011, the Company repurchased approximately 4,713,000 shares of the Company’s common stock under the February 2011 repurchase authorization by the Company’s Board of Directors pursuant to which the Company is authorized to repurchase up to 20.0 million shares of the Company’s outstanding common stock. This authorization expires in February 2013.

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. Accordingly, a dividend of $0.06 per share of outstanding common stock was paid on March 10, 2011 to shareholders of record as of the close of business on February 22, 2011, on June 10, 2011 to shareholders of record as of the close of business on May 20, 2011 and on September 9, 2011 to shareholders of record as of the close of business on August 22, 2011. The total cash payments for dividends in the nine months ended September 30, 2011 were $28.7 million.