Ingram Micro 2011 Annual Report Download - page 81

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INGRAM MICRO INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(In 000s, except per share data)
As of December 31, 2011, the unrecognized stock-based compensation cost related to non-vested restricted
stock and restricted stock units was $29,973. We expect this cost to be recognized over a remaining weighted-
average period of approximately 1.0 years.
Employee Benefit Plans
Our U.S.-based employee benefit plans permit eligible employees to make contributions up to certain limits,
which are matched by us at stipulated percentages. Our contributions charged to expense were $3,859, $1,909
and $2,485 in 2011, 2010 and 2009, respectively.
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 of our previous share repurchase programs earlier in 2010. Under the program, we may
repurchase shares in the open market and through privately negotiated transactions. Our repurchases are funded
with available borrowing capacity and cash. The timing and amount of specific repurchase transactions will
depend upon market conditions, corporate considerations and applicable legal and regulatory requirements. 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 upon the exercise of their options or vesting of their equity awards under the 2011
Plan (see Note 12).
Our stock repurchase and issuance activity for 2011, 2010 and 2009 are summarized as follows:
Shares
Repurchased
Weighted-
Average
Price Per Share
Net Amount
Repurchased
Cumulative balance at January 3, 2009 .............. 15,252 $16.15 $246,314
Issuance of Class A Common Stock ................ (157) 19.67 (3,095)
Cumulative balance at January 2, 2010 .............. 15,095 16.11 243,219
Repurchase of Class A Common Stock .............. 8,960 16.99 152,285
Issuance of Class A Common Stock ................ (342) 19.53 (6,687)
Cumulative balance at January 1, 2011 .............. 23,713 16.40 388,817
Repurchase of Class A Common Stock .............. 12,476 18.11 225,905
Issuance of Class A Common Stock ................ (546) 19.01 (10,391)
Cumulative balance at December 31, 2011 ........... 35,643 16.96 $604,331
71