(in thousands, except per share data) Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price 2010 2009 2008 Options: Outstanding at beginning of year . . . . . . . . . . . . . . . . . . . . 6,955 $25.54 6,185 $27.59 5,439 $28.20 Granted ...................................... 2,177 15.89 1,048 13.11 771 23.15 Exercised ..................................... (41) 13.11 (1) 1.83 (14) 18.62 Forfeited/canceled. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (281) 19.83 (277) 24.36 (11) 28.40 Outstanding at end of year. . . . . . . . . . . . . . . . . . . . . . . . . 8,810 $23.40 6,955 $25.54 6,185 $27.59 Options exercisable at year-end . . . . . . . . . . . . . . . . . . . . . 5,712 $27.48 5,357 $28.15 5,250 $28.14 Weighted average fair value of options granted during the year........................................ $ 4.11 $ 5.31 $ 9.73 Outstanding Exercisable Average remaining contractual life (in years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.9 2.5 Aggregate intrinsic value (in thousands) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(53,967) $(58,343) Options Exercised Intrinsic Value 2010 .................................................................... 41,403 $90,400 2009.................................................................... 1,205 $14,300 2008.................................................................... 14,399 $64,000 (in thousands) Number of Treasury Shares Treasury Shares Cost December 31, 2010 ............................................................... 6,798 $115,449 December31,2009 ............................................................... 3,680 69,950 December31,2008 ............................................................... 3,652 69,641 For awards granted before January 1, 2006 that were not fully vested on January 1, 2006, the Company will record the tax benefits from the exercise of stock options as increases to the “Additional paid-in capital” line item of the Consolidated Balance Sheets. If the Company does recognize tax benefits, the Company will record these tax benefits from share-based compensation costs as cash inflows in the financing section and cash outflows in the operating section in the Statement of Cash Flows. The Company has elected to use the short-cut method to calculate its historical pool of windfall tax benefits. As of December 31, 2010, there was approximately $8.8 million of total unrecognized compensation cost related to TSYS stock options that is expected to be recognized over a remaining weighted average period of 2.0 years. The following table summarizes shares held as treasury stock and their related carrying value: On April 20, 2010, TSYS announced a stock repurchase plan to purchase up to 10 million shares of TSYS stock. The shares may be purchased from time to time over the next two years at prices considered attractive to the Company. Through December 31, 2010, the Company purchased 3.1 million shares for approximately $45.1 million, at an average price of $14.60. A summary of TSYS’stock option activity as of December 31, 2010, 2009 and 2008, and changes during the years ended on those dates is presented below: NOTE 17 Treasury Stock Stock Repurchase Plan 49