LXK » Topics » Issuer Purchases of Equity Securities

This excerpt taken from the LXK 10-K filed Feb 27, 2009.
Issuer Purchases of Equity Securities
 
                                 
                      Approximate Dollar
 
                Total Number of
    Value of Shares That
 
    Total
          Shares Purchased as
    May Yet Be
 
    Number of
          Part of Publicly
    Purchased Under the
 
    Shares
    Average Price Paid
    Announced Plans or
    Plans or Programs
 
Period   Purchased (2)(3)     Per Share (2)(3)     Programs (2)(3)     (In Millions) (1)(2)(3)  
 
 
October 1-31, 2008
    4,551,989     $ 23.62       4,551,989     $ 505.9  
November 1-30, 2008
                      505.9  
December 1-31, 2008
    658,585       22.78       658,585       490.9  
 
 
Total
    5,210,574     $ 23.51       5,210,574          
 
(1)  In May 2008, the Company received authorization from the Board of Directors to repurchase an additional $750 million of its Class A Common Stock for a total repurchase authority of $4.65 billion. As of December 31, 2008, there was approximately $0.5 billion of share repurchase authority remaining. This repurchase authority allows the Company, at management’s discretion, to selectively repurchase its stock from time to time in the open market or in privately negotiated transactions depending upon market price and other factors. For the three months ended December 31, 2008, the Company repurchased approximately 5.2 million shares at a cost of $122.5 million through two accelerated share repurchase agreements (“ASR”) described in the notes immediately below. As of December 31, 2008, since the inception of the program in April 1996, the Company had repurchased approximately 91.6 million shares for an aggregate cost of approximately $4.2 billion.
 
(2)  On August 28, 2008, the Company entered into an accelerated share repurchase agreement with a financial institution counterparty. Under the terms of the ASR, the Company paid $150.0 million targeting 4.1 million shares based on an initial price of $36.90. On September 3, 2008, the Company took delivery of 85% of the shares, or 3.5 million shares at a cost of $127.5 million, and included these shares in the Company’s third quarter 10-Q repurchase table. On October 21, 2008, the counterparty delivered 1.2 million additional shares in final settlement of the agreement, bringing the total shares repurchased under the ASR to 4.7 million shares at an average price per share of $31.91. The delivery of the 1.2 million shares as well as the recognition of the remaining 15% of the initial payment, or $22.5 million, are included in the October activity in the table above.
 
(3)  On October 21, 2008, the Company entered into an accelerated share repurchase agreement with a financial institution counterparty. Under the terms of the ASR, the Company paid $100.0 million targeting 3.9 million shares based on an initial price of $25.71. On October 24, 2008, the Company took delivery of 85% of the shares, or 3.3 million shares at a cost of $85.0 million, and has included these shares in the October activity in the table above. On December 26, 2008, the counterparty delivered 0.7 million additional shares in final settlement of the agreement, bringing the total shares repurchased under the ASR to 4.0 million shares at an average price per share of $25.22. The delivery of the 0.7 million shares as well as the recognition of the remaining 15% of the initial payment, or $15.0 million, make up the December activity in the table above.


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This excerpt taken from the LXK 10-K filed Feb 27, 2008.
Issuer Purchases of Equity Securities
 
                                 
                      Approximate Dollar
 
                Total Number of
    Value of Shares That
 
    Total
          Shares Purchased as
    May Yet Be
 
    Number of
          Part of Publicly
    Purchased Under the
 
    Shares
    Average Price Paid
    Announced Plans or
    Plans or Programs
 
Period   Purchased     Per Share     Programs     (In Millions) (1)  
 
 
October 1-31, 2007
        $           $ 295.5  
November 1-30, 2007
                      295.5  
December 1-31, 2007
                      295.5  
 
 
Total
        $                
 
(1)  In January 2006, the Company received authorization from the board of directors to repurchase an additional $1.0 billion of its Class A Common Stock for a total repurchase authority of $3.9 billion. As of December 31, 2007, there was approximately $0.3 billion of share repurchase authority remaining. This repurchase authority allows the Company, at management’s discretion, to selectively repurchase its stock from time to time in the open market or in privately negotiated transactions depending upon market price and other factors. During 2007, the Company repurchased approximately 2.7 million shares at a cost of approximately $0.2 billion. As of December 31, 2007, since the inception of the program in April 1996, the Company had repurchased approximately 74.1 million shares for an aggregate cost of approximately $3.6 billion. As of December 31, 2007, the Company had reissued approximately 0.5 million shares of previously repurchased shares in connection with certain of its employee benefit programs. As a result of these issuances as well as the retirement of 44.0 million and 16.0 million shares of treasury stock in 2005 and 2006, respectively, the net treasury shares outstanding at December 31, 2007, were 13.6 million.


20


 

 
This excerpt taken from the LXK 10-K filed Feb 28, 2007.
Issuer Purchases of Equity Securities
 
                                 
                      Approximate Dollar
 
                Total Number of
    Value of Shares That
 
    Total
          Shares Purchased as
    May Yet Be
 
    Number of
          Part of Publicly
    Purchased Under the
 
    Shares
    Average Price Paid
    Announced Plans or
    Plans or Programs
 
Period   Purchased     Per Share     Programs     (In Millions) (1)  
 
 
October 1-31, 2006
    340,780     $ 58.36       340,780     $ 581.4  
November 1-30, 2006
    1,087,200       66.59       1,087,200       509.1  
December 1-31, 2006
    690,600       70.37       690,600       460.5  
Total
    2,118,580     $ 66.50       2,118,580        
 
(1)  In January 2006, the Company received authorization from the board of directors to repurchase an additional $1.0 billion of its Class A Common Stock for a total repurchase authority of $3.9 billion. As of December 31, 2006, there was approximately $0.5 billion of share repurchase authority remaining. This repurchase authority allows the Company, at management’s discretion, to selectively repurchase its stock from time to time in the open market or in privately negotiated transactions depending upon market price and other factors. During the fourth quarter of 2006, the Company repurchased approximately 2.1 million shares at a cost of approximately $141 million. During the year ended December 31, 2006, the Company repurchased approximately 16.5 million shares at a cost of approximately $0.9 billion. As of December 31, 2006, since the inception of the program in April 1996, the Company had repurchased approximately 71.4 million shares for an aggregate cost of approximately $3.4 billion. As of December 31, 2006, the Company had reissued approximately 0.5 million shares of previously repurchased shares in connection with certain of its employee benefit programs. As a result of these issuances as well as the retirement of 44.0 million and 16.0 million shares of treasury stock in 2005 and 2006, respectively, the net treasury shares outstanding at December 31, 2006, were 10.9 million.


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