Equity

3 Months Ended

Mar. 31, 2012

Equity

Note 7 — Equity

Share Repurchase Program

The Company has a $500.0 million share repurchase program, of which $237.5 million remained available for share repurchases as of March 31, 2012. Repurchases 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 may be funded from operating cash flow or borrowings.

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

	Three Months Ended March 31,
	2012		2011 (2)
Number of shares repurchased (1)		1,979,429		1,410,828
Cost of repurchased shares (in thousands)	$	77,158	$	51,896

(1) The average purchase price for the shares was $38.98 in 2012 and $36.78 in 2011.