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Share Repurchase Program and Treasury Stock
6 Months Ended
Jun. 30, 2012
Equity [Abstract]  
SHARE REPURCHASE PROGRAM AND TREASURY STOCK
SHARE REPURCHASE PROGRAM AND TREASURY STOCK
The Company has a $2.25 billion share repurchase program, of which there is $580.3 million remaining to repurchase common shares as of June 30, 2012. The share repurchases are expected to be funded from cash balances, borrowings and cash generated from operating activities. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors. The Company has purchased 19.3 million shares since the inception of the program through June 30, 2012.
During the six months ended June 30, 2012 and 2011, the Company spent $135.8 million and $114.2 million on the repurchase of 797,095 shares and 688,079 shares at an average price per share of $170.31 and $165.92, respectively. The Company reissued 233,146 shares and 146,898 shares held in treasury for the exercise of stock options and restricted stock units during the six months ended June 30, 2012 and 2011, respectively.