TREASURY STOCK PURCHASE

9 Months Ended

Sep. 30, 2012

TREASURY STOCK PURCHASE

TREASURY STOCK PURCHASE

11.TREASURY STOCK PURCHASE

On October 12, 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 and on August 13, 2012, the Company’s Board of Directors approved the authorization of an increase of an additional $250.0 million (collectively the “2011-2012 Repurchase Plan”), increasing the total amount available under the 2011-2012 Repurchase Plan at that time to $500.0 million. During the three- and nine-months ended September 30, 2012, the Company purchased 6.9 million shares of common stock at an average purchase price of $57.99 per share for a total amount of $397.5 million (excluding broker commissions), which the Company holds in treasury.

Subsequent to September 30, 2012, the Company purchased an additional 1.9 million shares at an average purchase price of $54.99 per share, which exhausted the availability under the 2011-2012 Repurchase Plan.