Shareholders' Equity

6 Months Ended

Jun. 30, 2012

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The following table summarizes the common stock and additional paid-in capital activity during the six months ended June 30, 2012 (in thousands):

Common stock and additional paid-in capital, December 31, 2011	$	352,157
Income tax expense of common stock options exercised	(658		)
Common stock issued pursuant to stock-based compensation plans, net	2,462
Stock-based compensation expense	13,277
Repurchase of common stock	(90,201		)
Common stock and additional paid in capital, June 30, 2012	$	277,037

During the six months ended June 30, 2012, the Company repurchased 4.0 million shares of the Company’s common stock under the February 2011 repurchase authorization by the Company’s Board of Directors pursuant to which the Company is authorized to repurchase up to 20.0 million shares of the Company’s outstanding common stock. This authorization expires in February 2013.

On February 9, 2011, the Company’s Board of Directors adopted a dividend policy under which the Company intends to pay quarterly cash dividends on its common stock. Accordingly, a dividend of $0.07 per share of outstanding common stock was paid on June 8, 2012 to shareholders of record as of the close of business on May 21, 2012. The total cash payments for dividends in the six months ended June 30, 2012 were $21.5 million.