Share Repurchase Program

12 Months Ended

Dec. 31, 2012

NOTE 9 – SHARE REPURCHASE PROGRAM

In January of 2011, the Company’s Board of Directors approved a share repurchase program. Under the program, the Company may, from time to time, repurchase shares of its common stock, solely through open market purchases effected through a broker dealer at prevailing market prices, based on a variety of factors such as price, corporate trading policy requirements and overall market conditions, for a three-year period. The Company and its Board of Directors may increase or otherwise modify, renew, suspend or terminate the share repurchase program at any time, without prior notice. During 2012, the Company’s Board of Directors approved resolutions to increase the cumulative authorization amount to $3.0 billion. Each prior $500 million authorization was effective for a three-year period, and expires November 12, 2015.

The following table identifies shares of the Company’s common stock that have been repurchased as part of the Company’s publicly announced share repurchase program (in thousands, except per share data):



	For the Year Ended December 31,
	2012		2011
Shares repurchased		16,201		15,877
Average price per share	$	89.20	$	61.49
Total investment	$	1,445,044	$	976,322

As of December 31, 2012, the Company had $578.6 million remaining under its share repurchase program. Subsequent to the end of the year and through the date of this filing, the Company repurchased an additional 2.1 million shares of its common stock under its share repurchase program at an average price of $90.09 for a total investment of $185.6 million. The Company has repurchased a total of 34.1 million shares of its common stock under its share repurchase program since the inception of the program in January of 2011 through and including February 28, 2013, at an average price of $76.37 for a total aggregate investment of $2.6 billion.