Equity and Stock Programs

9 Months Ended

Sep. 30, 2011

Equity and Stock Programs

Note 8 — Equity and Stock Programs

Share Repurchase Program

The Company has a board approved $500.0 million share repurchase program. Repurchases under the program may be made from time-to-time through open market purchases, private transactions, tender offers or other transactions. The amount and timing of repurchases will be subject to the availability of stock, prevailing market conditions, the trading price of the stock, the Company’s financial performance and other conditions. Repurchases may also be made from time-to-time in connection with the settlement of the Company’s shared-based compensation awards. Repurchases are funded from cash flow from operations or borrowings.

The Company’s share repurchase activity is included in the following table:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Number of shares repurchased (1)		1,543,069		48,904		3,886,521		3,188,945
Cost of repurchased shares (in thousands) (2)	$	53,354	$	1,372	$	141,214	$	76,475

(1)	The nine months ended September 30, 2011 includes 500,000 shares the Company repurchased directly from ValueAct Capital Master Fund L.P. in a private transaction.
(2)	As of September 30, 2011, the Company had $363.0 million remaining for share repurchases under its $500.0 million share repurchase program.