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COMMON STOCK
12 Months Ended
Dec. 31, 2011
COMMON STOCK [Abstract]  
COMMON STOCK

COMMON STOCK

        The Board of Directors has authorized several programs to repurchase our common stock from time to time in open market transactions. We repurchased 7,244,450 shares of our common stock during 2011 for $78.0 million and 740,000 shares of our common stock during 2010 for $10.7 million. As of December 31, 2011, $215.4 million of Board authorized repurchases was still available. We may make additional share repurchases in the future depending on, among other things, market conditions and our financial condition, although any such repurchases will be subject to limitations under our current revolving credit agreement.

        On November 16, 2010, we retired all our treasury shares and returned them to an authorized but unissued status. All subsequent repurchases are retired upon purchase. We allocate the cost of the treasury shares in excess of par on a pro rata basis to additional paid-in capital and retained earnings.