Stockholders' (Deficit) Equity

3 Months Ended

Mar. 31, 2012

Stockholders' Equity Note [Abstract]

Stockholders' (Deficit) Equity

Stockholders’ Deficit

On July 27, 2010, the Company’s Board of Directors (“Board”) authorized the repurchase of up to approximately $1.1 billion of common stock, in addition to the $393.6 million of its common stock remaining available for repurchase under the previous 2008 Share Buyback Program, for a total repurchase authorization of up to $1.5 billion of its common stock (collectively, the “2010 Share Buyback Program”). The 2010 Share Buyback Program has no expiration date. During the three months ended March 31, 2012 the Company repurchased 1.8 million shares of its common stock, at an average stock price of $37.34. The aggregate cost of the repurchases under the 2010 Share Buyback Program in the three months ended March 31, 2012 was $68.4 million. As of March 31, 2012, $762.9 million remained available for further repurchases under the 2010 Share Buyback Program.

During the three months ended March 31, 2012, the Company placed 0.2 million shares, at an average stock price of $37.58, for an aggregate cost of $6.7 million, into treasury stock to cover tax withholdings upon vesting of Restricted Stock Units (“RSUs”).

Since inception the Company has repurchased 159.4 million shares of its common stock for an aggregate cost of $4.7 billion, which is recorded as a reduction of Additional paid-in capital.