Shareholders' Equity

9 Months Ended

Sep. 30, 2011

Shareholders' Equity

Shareholders' Equity

NOTE 24- Shareholders' Equity

Share Repurchase Program

On August 3, 2010, the Board authorized the repurchase of 3.0 million shares. These purchases may be made on the open market or in privately negotiated transactions, depending upon market conditions and other factors. Repurchased shares may be used to meet obligations under our employee benefit plans and for general corporate purposes. During the three and nine months ended September 30, 2011, we repurchased $44.6 million and $48.5 million, or 1.6 million and 1.7 million shares, respectively, using existing Board authorizations at an average price of $27.46 and $28.12 per share, respectively, to meet obligations under our company's employee benefit plans and for general corporate purposes.

Under existing Board authorizations at September 30, 2011, we are permitted to buy an additional 1.3 million shares. On November 7, 2011, the Board authorized the repurchase of an additional 3.0 million shares; see Note 26 - Subsequent Events. The repurchase program has no expiration date.

Issuance of Shares

During the three and nine months ended September 30, 2011, we reissued 0.2 million and 1.4 million shares, respectively, from treasury for shares as a result of vesting and exercise transactions under our incentive stock award plans.