Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 30, 2012
Summary Of Significant Accounting Policies [Abstract]  
Reconciliation of Weighted-Average Outstanding Shares used in Calculations of Basic and Diluted EPS
A reconciliation of the weighted-average outstanding shares used in the two calculations is as follows:
 
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2012     2011     2012     2011  
    (In millions)  
Weighted-average shares outstanding (basic)     119.7       121.8       120.0       122.5  
Effect of dilutive securities:                                
Stock options and restricted stock units     2.5       1.5       2.4       1.7  
Weighted-average shares outstanding (diluted)     122.2       123.3       122.4       124.2
Items Measured at Fair Value on Recurring Basis

The following table presents items measured at fair value on a recurring basis:

 

          Fair Value Measurements at Reporting Date Using:  
                Significant        
          Quoted Prices in     Other     Significant  
    Fair Value of Assets     Active Markets for     Observable     Unobservable  
    (Liabilities) at     Identical Assets     Inputs     Inputs  
Description   September 30, 2012     (Level 1)     (Level 2)     (Level 3)  
    (In millions)  
Fair Value Interest Rate Swaps(1)   $ 13.7     $ -     $ 13.7     $ -  
Notes, due 2014(1)     (288.7 )     -       (288.7 )     -  
Deferred Compensation Plan(2)     (16.2 )     -       (16.2 )     -  
Total   $ (291.2 )   $ -     $ (291.2 )   $ -  

 

(1)        The fair value of our interest rate swaps, which are designated as fair value hedges, and our notes, due in 2014, are based on the present value of expected future cash flows using zero coupon rates and are classified within Level 2 of the fair value hierarchy.

 

(2)        We maintain deferred compensation plans that allow for certain management employees to defer the receipt of compensation (such as salary, incentive compensation and commissions) until a later date based on the terms of the plan. The liability representing benefits accrued for plan participants is valued at the quoted market prices of the participants’ investment elections.