Blackberry 2012 Annual Report Download - page 205

Research In Motion Limited
Management’s Discussion and Analysis of Financial Condition and Results of Operations
On November 4, 2009, the Company’s Board of Directors authorized the repurchase of common shares up to an authorized limit of
$1.2 billion (the “2010 Repurchase Program”). Pursuant to the 2010 Repurchase Program, the Company repurchased and cancelled
12.3 million common shares at a cost of $775 million during fiscal 2010. In the first three months of fiscal 2011, the Company
repurchased and cancelled 5.9 million common shares at a cost of $410 million. There was a reduction of approximately $23 million
to capital stock and the amount paid in excess of the per share paid-in capital of the common shares of $387 million was charged to
retained earnings. Under the 2010 Repurchase Program, the Company repurchased and cancelled a total of 18.2 million common
shares for an aggregate cost of $1.2 billion, resulting in the effective completion of the 2010 Repurchase Program.
On June 24, 2010, the Company’s Board of Directors authorized a share repurchase program to purchase for cancellation up to
approximately 31 million common shares (the “2011 Repurchase Program”). Pursuant to the 2011 Repurchase Program, the Company
repurchased and cancelled 31.3 million common shares at a cost of $1.7 billion during the first nine months of fiscal 2011, resulting
in the effective completion of the 2011 Repurchase Program. As a result of the repurchase and cancellation, there was a reduction of
approximately $119 million to capital stock and the amount paid in excess of the per share paid-in capital of the common shares of
$1.6 billion was charged to retained earnings.
The 31.3 million common shares purchased under the 2011 Repurchase Program together with the 18.2 million common shares
purchased by the Company under the 2010 Repurchase Program, represent approximately 10% of the Company’s public float of
common shares.
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