SHARE CAPITAL

Movements in the number of common shares issued are represented in the table below:



In millions	September 30, 2012		September 30, 2011
Common shares issued	490.4		490.4
Less: Treasury shares for which dividend and voting rights do not apply	(46.4	)	(39.4	)
Common shares outstanding	444.0		451.0

During the three and nine months ended September 30, 2012, the company repurchased 1.8 million and 8.1 million shares, respectively, in the market at a cost of $40.0 million and $190.0 million, respectively (nine months ended September 30, 2011: 13.4 million shares were repurchased at a cost of $333.0 million). Separately, an aggregate of 1.9 million shares were withheld on vesting events during the nine months ended September 30, 2012 to meet employees’ withholding tax (nine months ended September 30, 2011: 2.7 million). The fair value of these shares withheld at the respective withholding dates was $44.4 million during the nine months ended September 30, 2012 (nine months ended September 30, 2011: $71.9 million). Approximately $542.0 million remained authorized under the company’s share repurchase plan at September 30, 2012 (nine months ended September 30, 2011: $835.4 million).

Total treasury shares at September 30, 2012 were 56.8 million (September 30, 2011: 49.3 million), including 10.4 million unvested restricted stock awards (September 30, 2011: 9.9 million) for which dividend and voting rights apply. The closing market price of common shares at September 30, 2012 was $24.99. The total market value of the company’s 56.8 million treasury shares was $1.4 billion on September 30, 2012.