6. STOCKHOLDERS’ EQUITY AND BENEFIT PLANS

Common Stock Repurchase Programs. Purchases of the Company’s common stock are made from time to time, subject to market conditions and at prevailing market prices, through the open market. Repurchased shares of common stock are recorded at cost and become authorized but unissued shares which may be issued in the future for general corporate and other purposes. The Company may terminate or limit its stock repurchase program at any time. In the event the repurchased shares are cancelled, the Company accounts for retirements by allocating the repurchase price to common stock, additional paid-in capital and retained earnings. The repurchase price allocation is based upon the equity contribution associated with historical issuances. These repurchase programs were conducted pursuant to Rule 10b-18 of the Exchange Act. During the period from the announcement of the Company’s $750 million buyback authorization in August 2010 until the end of the Second Quarter, the Company has repurchased approximately $568.3 million of its common stock, representing approximately 7.5 million shares.

During the Year To Date Period, the Company effectively retired 7.5 million shares of common stock repurchased under its repurchase programs during the 2010, 2011 and 2012 fiscal years. The effective retirement of common stock repurchased decreased common stock by $75,000, additional paid in capital by $48.4 million, retained earnings by $520.4 million and treasury stock by $568.9 million.

The following table reflects the Company’s common stock repurchase activity for the periods indicated (in millions):


				For the 13 Weeks Ended June 30, 2012				For the 26 Weeks Ended June 30, 2012
Fiscal year authorized	Dollar value authorized		Termination date	Number of shares repurchased		Dollar value repurchased		Number of shares repurchased		Dollar value repurchased
2010	$	30.0	None		0.0	$	0.0		0.0	$	0.0
2010	$	750.0	December 2013		0.7	$	58.9		1.3	$	118.2

Stock-Based Compensation Plans. The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation-Stock Compensation (“ASC 718”), using the Black-Scholes option pricing model to determine the fair value of stock options and stock appreciation rights at the date of grant. The Company’s current stock-based compensation plans include: (i) stock options and restricted stock for its international employees, (ii) stock options and restricted stock units for its non-employee directors and (iii) stock appreciation rights, restricted stock and restricted stock units for its U.S.-based employees. There have been no significant changes to the Company’s stock-based compensation plans since the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

The following table summarizes stock options and stock appreciation rights activity during the Second Quarter:


Stock Options and Stock Appreciation Rights	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
	IN THOUSANDS							IN THOUSANDS
Outstanding at March 31, 2012		1,193		$	61.03		6.6	$	84,641
Granted		12			131.46
Exercised		(4	)		28.84				240
Forfeited or expired		0			0.00

Outstanding at June 30, 2012		1,201			61.81		6.3		34,152

Exercisable at June 30, 2012		543			37.36		4.5		22,989

Nonvested at June 30, 2012		658			82.02		7.9		11,162

Expected to vest		593		$	82.02		7.9	$	10,180

The aggregate intrinsic value in the table above is before income taxes and is based on (i) the exercise price for outstanding and exercisable options/rights at June 30, 2012 and (ii) the fair market value of the Company’s common stock on the exercise date for options/rights that were exercised during the Second Quarter.

Stock Options and Stock Appreciation Rights Outstanding and Exercisable. The following table summarizes information with respect to stock options and stock appreciation rights outstanding and exercisable at June 30, 2012:


Stock Options and Stock Appreciation Rights Outstanding							Stock Options and Stock Appreciation Rights Exercisable
Range of Exercise Prices	Number of Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Number of Shares		Weighted- Average Exercise Price
	IN THOUSANDS						IN THOUSANDS
$11.66 - $13.15		20	$	11.70		0.7		20	$	11.70
$13.15 - $26.29		323		18.77		4.3		232		20.67
$26.29 - $39.44		310		34.46		5.8		177		33.57
$39.44 - $52.58		32		43.12		5.5		32		43.12
$65.73 - $78.88		4		69.53		8.5		1		69.53
$78.88 - $92.02		202		81.23		8.2		47		81.23
$92.02 - $105.17		6		93.29		8.8		2		93.29
$118.31 - $131.46		304		127.35		8.3		32		121.73

Total		1,201	$	61.81		6.3		543	$	37.36

Restricted Stock and Restricted Stock Units. The following table summarizes restricted stock and restricted stock unit activity during the Second Quarter:


Restricted Stock and Restricted Stock Units	Number of Shares			Weighted-Average Grant-Date Fair Value
	IN THOUSANDS
Nonvested at March 31, 2012		269		$	66.60
Granted		23			88.01
Vested		(16	)		69.10
Forfeited		(1	)		88.11

Nonvested at June 30, 2012		275			68.19

Expected to vest		249		$	68.19

The total fair value of restricted stock and restricted stock units vested during the Second Quarter was approximately $1.2 million.