Equity

6 Months Ended

Jun. 30, 2012

Equity

Note 8 — Equity

Share Repurchase Program

The Company has a $500.0 million share repurchase program, of which $231.0 million remained available for share repurchases as of June 30, 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 June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Number of shares repurchased (1)		184,831		932,624		2,164,260		2,343,452
Cost of repurchased shares (in thousands)	$	7,517	$	35,964	$	84,674	$	87,860

(1) The average purchase price for the shares was $40.67 and $38.56 for the three months ended June 30, 2012 and 2011, respectively, and $39.12 and $37.49 for the six months ended June 30, 2012 and 2011, respectively.