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Initiatives
6 Months Ended
Jun. 30, 2011
Initiatives  
Initiatives

2. Initiatives

On December 15, 2010, the company entered into an accelerated share repurchase ("ASR") agreement with a bank to repurchase $750 million of the company's outstanding common stock. The company received 8.1 million shares upon initial settlement under the ASR transaction. The initial settlement is subject to an adjustment related to a forward purchase contract based on the volume-weighted average share price of the company's common stock during a predetermined period of less than one year, less a discount. Upon final settlement of the forward purchase contract, the company will either receive a settlement amount of additional shares of its common stock or be required to remit a settlement amount, payable, at the company's option, in cash or common stock. If the forward purchase contract had been settled at June 30, 2011, the company would have been required to remit approximately 640,000 shares or the amount of cash equivalent to the settlement amount to the bank counterparty.