Stock Repurchases

12 Months Ended

Dec. 31, 2012

13. STOCK REPURCHASES

On August 5, 1999, our board of directors approved a stock repurchase program which authorizes us to repurchase common shares in the open market or in privately negotiated transactions at price levels we deem attractive. On March 26, 2012, the board of directors authorized the repurchase of up to one million shares of our common stock in addition to the board’s prior authorizations. As of December 31, 2012, we had authorization to repurchase 534,212 shares of our common stock.

The following table summarizes our stock repurchases for the years ended December 31, 2012, 2011 and 2010:

(Dollars in millions)
	For the Years Ended December 31,
	2012				2011				2010
Stock Repurchases	Number of Shares Repurchased		Cost (1)		Number of Shares Repurchased		Cost (1)		Number of Shares Repurchased		Cost (1)
Open Market		727,319	$	66.5		55,133	$	4.2		-	$	-
Tender Offer		1,000,000		84.8		1,904,761		125.2		4,000,000		200.3
Other (2)		13,053		1.2		19,550		1.4		47,311		1.9
Total		1,740,372	$	152.5		1,979,444	$	130.8		4,047,311	$	202.2

(1)	Tender Offer amounts include offering costs of $0.3 million, $0.2 million, and $0.3 million for 2012, 2011 and 2010, respectively.

(2)	Represents shares of common stock released to us by team members as payment of tax withholdings due to us upon the vesting of restricted stock.