Company recorded a charge of $342 million related to the premiums paid to repurchase the long-term debt and the costs associated with the settlement of treasury rate locks issued in connection with the debt tender offer. Refer to Note 10 of Notes to Consolidated Financial Statements for additional information related to the Company's long-term debt. 

In 2009, the Company had issuances of debt of $14,689 million and payments of debt of $12,326 million. The issuances of debt included $12,397 million of issuances of commercial paper and short-term debt with maturities greater than 90 days, as well as $900 million and $1,350 million of long-term debt due March 15, 2014, and March 15, 2019, respectively. The payments of debt included $1,861 million of net payments of commercial paper and short-term debt with maturities of 90 days or less; $10,017 million related to commercial paper and short-term debt with maturities greater than 90 days; and $448 million related to long-term debt. The increase in issuances and payments of commercial paper with maturities of greater than 90 days was primarily due to a favorable interest rate environment on longer-term commercial paper. As a result, the Company also began investing in longer-term time deposits that have maturities of greater than three months. Refer to the heading "Cash Flows from Investing Activities" above. 

Issuances of Stock 

The issuances of stock in 2011, 2010 and 2009 were primarily related to the exercise of stock options by Company employees. 

Share Repurchases 

On July 20, 2006, the Board of Directors of the Company authorized a share repurchase program of up to 300 million shares of the Company's common stock. The program took effect on October 31, 2006. 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, 2011, we have purchased approximately 1.4 billion shares

of our Company's common stock at an average price per share of $23.43. 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 2011, we repurchased $4.3 billion of our stock. However, due to the timing of settlements, the total amount of treasury stock purchases that settled during 2011 was $4.5 billion, which includes treasury stock that was purchased and settled during 2011 as well as treasury stock purchased in December 2010 that settled in early 2011. The net impact of the Company's treasury stock issuance and purchase activities in 2011 resulted in a net cash outflow of $2.9 billion. We currently expect to repurchase an additional $2.5 billion to $3.0 billion of our stock during 2012, net of proceeds from the issuance of stock due to the exercise of employee stock options. 

Dividends 

At its February 2012 meeting, our Board of Directors