PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2012

Stockholders' Equity Note [Abstract]

Preferred Stock and Common Shareholders' Equity

PREFERRED STOCK AND COMMON SHAREHOLDERS’ EQUITY

The Company is authorized to issue up to 265.0 shares of common stock, par value $0.10 per share. The Company’s treasury shares are recorded at aggregate cost. The Company is authorized to issue up to 30.0 shares of preferred stock, par value $0.10 per share. There were no preferred shares outstanding as of June 30, 2012.

The changes in common shares issued and held in treasury are summarized below:

	Issued		Held in Treasury		Outstanding
Common shares at December 31, 2011	120.0		(22.2	)	97.8
Common stock issued under employee stock plans	1.0		—		1.0
Common stock issued upon conversion of zero-coupon subordinated notes	—		—		—
Surrender of restricted stock and performance share awards	—		(0.1	)	(0.1	)
Retirement of common stock	(2.9	)	—		(2.9	)
Common shares at June 30, 2012	118.1		(22.3	)	95.8

Share Repurchase Program

As of December 31, 2011, the Company had outstanding authorization from the Board of Directors to purchase approximately $84.4 of Company common stock. On February 10, 2012, the Company announced the Board of Directors authorized the purchase of $500.0 of additional shares of the Company’s common stock. During the six months endedJune 30, 2012, the Company purchased 2.9 shares of its common stock at a total cost of $252.6. As of June 30, 2012, the Company had outstanding authorization from the Board of Directors to purchase $331.9 of Company common stock.