Ingram Micro 2010 Annual Report Download - page 77

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Note 13 — Common Stock
Share Repurchase Program
In October 2010, our Board of Directors authorized a new three-year, $400,000 share repurchase program,
following the completion in the second quarter of 2010 of our $300,000 share repurchase program authorized in
November 2007 and our $100,000 share repurchase program authorized in May 2010. We have not made any share
repurchases for the program authorized in October 2010. In 2010, we purchased 3,038,000 shares of common stock
for $52,285 from our $300,000 share repurchase program and 5,922,000 shares of common stock for $100,000 from
our $100,000 share repurchase program. These repurchases were funded with available cash and borrowing
capacity. We have also issued shares of common stock out of our cumulative balance of treasury shares. Such shares
are issued to certain of our associates for the vesting of their equity awards under the Ingram Micro Amended and
Restated 2003 Equity Incentive Plan.
Our stock repurchase and issuance activity for 2010, 2009 and 2008 is summarized as follows:
Shares
Repurchased
(in 000s)
Weighted-
Average
Price Per Share
Net Amount
Repurchased
Cumulative balance at December 29, 2007 .......... 1,302 $19.26 $ 25,061
Repurchased shares of common stock .............. 14,006 15.87 222,346
Issued shares of common stock ................... (56) 19.67 (1,093)
Cumulative balance at January 3, 2009 ............. 15,252 16.15 246,314
Issued shares of common stock ................... (157) 19.67 (3,095)
Cumulative balance at January 2, 2010 ............. 15,095 16.11 243,219
Repurchased shares of common stock .............. 8,960 16.99 152,285
Issued shares of common stock ................... (342) 19.53 (6,687)
Cumulative balance at January 1, 2011 ............. 23,713 16.40 $388,817
Classes of Common Stock
We have two classes of Common Stock, consisting of 500,000,000 authorized shares of $0.01 par value
Class A Common Stock and 135,000,000 authorized shares of $0.01 par value Class B Common Stock, and
25,000,000 authorized shares of $0.01 par value Preferred Stock.
69
INGRAM MICRO INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)