Shareholders' Equity

6 Months Ended

Jun. 30, 2012

Stockholders' Equity Note [Abstract]

Shareholders' Equity

SHAREHOLDERS’ EQUITY

A summary of shares repurchased under our stock repurchase program authorized by our Board of Directors follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
Shares repurchased	3.7		3.4		15.4		5.1
Aggregate purchase price	$	126.2	$	110.9	$	531.6	$	169.7
Average purchase price per share	$	33.99	$	33.04	$	34.54	$	32.97

As of June 30, 2012, $118.2 million remained available under our stock repurchase authorization limit. In July 2012, our Board of Directors authorized the repurchase of an additional $250.0 million of shares of our common stock. As of July 18, 2012, $368.2 million remained available under our stock repurchase authorization limit.

A summary of shares of common stock issued in connection with the exercise of stock options follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
Shares issued	0.1		0.4		0.1		2.3
Proceeds from exercise of stock options	$	1.4	$	8.0	$	1.7	$	39.9
Average exercise price per share	$	17.15	$	17.81	$	17.42	$	17.05

The following table presents a summary of shares of common stock issued in connection with grants of restricted stock and shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock (in actual number of shares):

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2012	2011	2012	2011
Shares issued	—	—	155,740	163,892
Shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock	28,303	23,008	36,935	31,297