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Stockholders' Equity
 3 Months Ended
Mar. 31, 2012
Stockholders' Equity  
Stockholders' Equity

8. Stockholders’ Equity

 

Share Repurchase Program

 

During the three months ended March 31, 2012, the Company did not repurchase any shares of its Common Stock under its share repurchase program. As of March 31, 2012, the Company had repurchased a cumulative total of approximately 26.3 million shares of its Common Stock with an aggregate price of approximately $428.9 million since the commencement of the program in 2001. As of March 31, 2012, there remained an outstanding authorization to repurchase approximately 5.2 million shares of the Company’s outstanding Common Stock.

 

The Company records stock repurchases as a reduction to stockholders’ equity. The Company records a portion of the purchase price of the repurchased shares as an increase to accumulated deficit when the price of the shares repurchased exceeds the average original proceeds per share received from the issuance of Common Stock.