TREASURY STOCK PURCHASE

9 Months Ended

Sep. 30, 2011

TREASURY STOCK PURCHASE

TREASURY STOCK PURCHASE

11. TREASURY STOCK PURCHASE

On March 11, 2010, the Company’s Board of Directors authorized the repurchase of up to $200.0 million of the Company’s common stock. During the nine-months ended September 30, 2011, the Company purchased 2.1 million shares of common stock at an average purchase price of $69.92 per share for a total amount of $149.0 million, which the Company holds in treasury. During the nine-months ended September 30, 2010, the Company purchased 0.6 million shares of common stock at an average purchase price of $37.68 per share for a total amount of $23.6 million, which the Company holds in treasury.

Subsequent to September 30, 2011, the Company purchased an additional 0.3 million shares at an average purchase price of $79.56 per share, which exhausted the availability under the 2010 share repurchase plan. In October 2011, the Company’s Board of Directors authorized a new share repurchase program for the repurchase of up to $250.0 million of the Company’s outstanding common stock.