The 2012 Plan allowed the Company to continue repurchasing shares following the completion of the prior program. The table below presents annual shares repurchased and average price per share: 

Since the inception of our initial share repurchase program in 1984 through our current program as ofDecember 31, 2013, we have purchased 3.1 billion shares of our Company's common stock at an average price per share of $13.82. In addition to shares repurchased under the stock repurchase plans authorized by our Board of Directors, the Company's treasury stock activity also includes shares surrendered to the Company to pay the exercise price and/or to satisfy tax withholding obligations in connection with so- called stock swap exercises of employee stock options and/or the vesting of restricted stock issued to employees. In 2013, we repurchased $4.8 billion of our stock. The net impact of the Company's treasury stock issuance and purchase activities in 2013 resulted in a net cash outflow of $3.5 billion. We currently expect to repurchase $2.5 billion to $3.0 billion of our stock during 2014, net of proceeds from the issuance of stock due to the exercise of employee stock options. 

Dividends 

At its February 2014 meeting, our Board of Directors increased our quarterly dividend by 9 percent, raising it to $0.305 per share, equivalent to a full year dividend of $1.22 per share in 2014. This is our 52nd consecutive annual increase. Our annual common stock dividend was $1.12 per share, $1.02 per share and $0.94 per share in 2013, 2012 and 2011, respectively. The 2013 dividend represented a 10 percent increase from 2012, and the 2012 dividend represented an 8.5 percent increase from 2011. 

Off-Balance Sheet Arrangements and Aggregate Contractual Obligations 

Off-Balance Sheet Arrangements 

In accordance with the definition under SEC rules, the following qualify as off-balance sheet arrangements: 

anyobligationundercertainguarantee contracts; 

aretainedorcontingentinterestinassetstransferredtoanunconsolidatedentityorsimilararrangementthatservesascredit,liquidityormarketrisksupporttothatentity for such assets; 

anyobligationundercertainderivativeinstruments; and 

anyobligationarisingoutofamaterialvariableinterestheldbytheregistrantinanunconsolidatedentitythatprovidesfinancing,liquidity,marketriskorcreditrisk support to the registrant, or engages in leasing, hedging or research and development services with the registrant. 

As of December 31, 2013, we were contingently liable for guarantees of indebtedness owed by third parties of $662 million, of which $288 million was related to VIEs. These guarantees are primarily related to third-party customers, bottlers, vendors and container manufacturing operations and have arisen through the normal course of business. These guarantees have various terms, and none of these guarantees was individually significant. The amount represents the maximum potential future payments that we could be required to make under the guarantees; however, we do not consider it probable that we will be required to satisfy these guarantees. Management concluded that the likelihood of any significant amounts being paid by our