Equity

12 Months Ended

Dec. 31, 2011

Equity/Accumulated Other Comprehensive Income (Loss) [Abstract]

Equity

13.    Equity

Preferred Stock

The following table describes the number of shares authorized, issued and outstanding of our preferred stock as of December 31, 2011 and 2010:

	As of December 31, 2011						As of December 31, 2010
(In thousands)	Authorized		Issued		Outstanding		Authorized		Issued		Outstanding
Series A		1,750		—		—		1,750		8		8
Series X junior participating		1,000		—		—		1,000		—		—
Undesignated		5,250		—		—		5,250		—		—
Total preferred stock		8,000		—		—		8,000		8		8

We have 8,000,000 shares of Preferred Stock authorized, of which 1,750,000 shares have been designated as Series A Preferred Stock and 1,000,000 shares have been designated as Series X Junior Participating Preferred Stock. The shares may be issued without a vote or action of stockholders from time to time in classes or series with the designations, powers, preferences, and the relative, participating, optional or other special rights of the shares of each such class or series and any qualifications, limitations or restrictions thereon as set forth in the instruments governing such shares. Any such Preferred Stock may rank prior to common stock as to dividend rights, liquidation preference or both, and may have full or limited voting rights and may be convertible into shares of common stock.

There were 8,221 shares of Series A Preferred Stock issued and outstanding as of December 31, 2010. In March 2011, the remaining 8,221 shares of our Series A Preferred Stock were converted into 493,260 shares of common stock by the holder pursuant to the conversion terms of the Series A Preferred Stock. As of December 31, 2011, there are no shares of preferred stock issued and outstanding.

Common Stock

The following table describes the number of shares authorized, issued and outstanding of our common stock as of December 31, 2011 and 2010:

As of December 31, 2011

As of December 31, 2010

(In thousands)

Authorized

Issued

Outstanding

Authorized

Issued

Outstanding

Common stock

1,000,000

255,633

242,115

1,000,000

248,200

240,538

Share Repurchases

In February 2011, our Board of Directors authorized the repurchase of up to 20.0 million shares of our common stock. We expect to use this repurchase program principally to offset common stock issued under our share-based compensation plans. This repurchase program does not have an expiration date. Under this authorization, we repurchased approximately 6.0 million shares of our common stock at a cost of $498.0 million during 2011. These repurchases were recorded as repurchases of Treasury Stock.

From January 1, 2012 through January 31, 2012, we repurchased approximately 3.5 million shares of our common stock at a total cost of approximately $401.5 million under our 2011 stock repurchase authorization. As of January 31, 2012, approximately 10.5 million shares of our common stock remain available to repurchase under this program.

During 2010, we repurchased approximately 40.3 million shares of our common stock at a cost of approximately $2.1 billion under our 2010 and 2009 stock repurchase authorizations. We retired all of these shares as they were acquired. In connection with this retirement, we recorded a reduction in additional paid-in-capital of approximately $2.1 billion. The 2010 and 2009 share repurchase programs were completed during 2010.