Stockholders' Equity Note

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity:

Holders of the Company’s common stock are entitled to one vote per share. At December 31, 2012, the Company had reserved approximately 6.4 million shares of common stock for future issuance of equity awards under its 2009 Stock Incentive Plan. See Note 15 for discussion of shares available for issuance under the Company’s 1999 Employee Stock Purchase Plan (the “1999 ESPP”).

Stock Repurchase Program

On April 19, 2011, the Company’s Board of Directors authorized a one-year $150.0 million stock repurchase program that began in May 2011. On August 8, 2011, the Company's Board of Directors authorized an additional $250.0 million of stock repurchases under the previously approved program so that the total authorized funding for stock repurchases over the twelve-month period ended April 2012 was $400.0 million. On April 25, 2012, the Company announced that its Board of Directors authorized a new $150.0 million stock repurchase program covering a twelve-month period commencing on May 1, 2012. Unused amounts from the 2011 authorization were not carried over to the new program. The timing and amount of any future share repurchases will be determined by the Company's management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit the Company to repurchase shares when the Company might otherwise be precluded from doing so under insider trading laws. The Company may choose to suspend or discontinue the repurchase program at any time. Any purchases made under the program will be reflected as an increase in cash used for financing activities.

During the years ended December 31, 2012 and 2011, the Company repurchased approximately 4.4 million and 12.3 million shares, respectively, of its common stock for $141.5 million and $324.7 million, respectively. As of December 31, 2012, the Company had $38.5 million remaining available for future purchases of shares under the approved repurchase program.