Shares Held In Trust Treated As Treasury Shares

12 Months Ended

Dec. 31, 2011

Shares Held In Trust Treated As Treasury Shares [Abstract]

Shares Held In Trust Treated As Treasury Shares

Note 18—Shares Held in Trust treated as Treasury Shares

In May 2008, an independent trustee acting under certain of our benefit plans purchased 2.3 million of our common shares to be used to satisfy future liabilities under the PSU Plan and the Restated EISPP. During the year ended December 31, 2011, we distributed 0.2 million shares from the trust to satisfy certain PSU obligations that had vested. During the year ended December 31, 2011, we distributed 0.2 million shares from the trust to satisfy certain Restated EISPP obligations that had vested. As of December 31, 2011, 0.7 million shares were held in trust and accounted for as treasury shares under applicable accounting rules. Treasury shares are reported at cost.

Subsequent to the adoption of the 2010 Equity Incentive Plan on May 4, 2010, the HRCC determined that certain of Cott's long-term incentive plans were no longer needed and terminated the PSU Plan and the Restated EISPP effective February 23, 2011. No further awards will be granted under such plans, as future awards will be made under the Company's 2010 Equity Incentive Plan.