Notes to Consolidated Financial Statements 63 NOTE 11 — STOCKHOLDERS’ EQUITY NOTE 12 — EMPLOYEE BENEFIT PLANS Share repurchases are only conducted under repurchase programs approved by the Board of Directors and publicly announced. Share repurchase activity was as follows: At December 31, 2004, we had 10 million shares available for repurchase under a July 2004 authorization. In May 2002, the Board of Directors approved a restricted stock plan. The plan allowed for the issuance of up to 1 million shares of Company common stock to certain key employees. The restrictions on selling these shares lapse 50% on the third anniversary date from the grant date and 50% on the fourth anniversary date after the grant date. Through December 31, 2004, 903,000 shares were issued, with an aggregate value of $32 million. This amount was recorded as deferred  compensation in the accompanying consolidated balance sheet and is being  amortized to operating expenses on a straight-line basis through the period in which the restrictions fully lapse. Amortization of deferred compensation was $7 million, $8 million and $5 million for the years ended December 31, 2004, 2003 and 2002, respectively, and 855,000 shares were outstanding under the plan at December 31, 2004. In November 2002, the Board of Directors determined that no more awards would be granted under the plan. The Company maintains a nonqualified deferred retirement plan for certain key employees. The plan allows participants to defer, on a pre-tax basis, a portion of their salary and bonus and accumulate tax deferred earnings, plus investment earnings on the deferred balances, as a retirement fund. Participants receive a Company match of up to 4% of salary, net of any Company match received under the Company’s 401(k) plan. All employee deferrals vest immediately. The Company matching contributions vest ratably over a three-year period. The Company recorded charges for matching contributions of $1 million in 2004, $2 million in 2003 and $1 million in 2002. The Company has a retirement savings plan under Section 401(k) of the Internal Revenue Code for eligible employees not covered by a collective bargaining agree- ment that does not specifically provide for participation in the plan. The plans allow employees to defer, within prescribed limits, up to 30% of their income on a pre-tax basis through contributions to the plans. The Company matches, within prescribed limits, a portion of eligible employees' contributions. In the case of  certain union employees, the Company contributes to the plan are based on hours worked. The Company recorded charges for 401(k) contributions of $12 million in 2004, $10 million in 2003 and $12 million in 2002. The Company is self-insured for most health care benefits for its non-union employees. The liability for claims filed and estimates of claims incurred but not reported is included in the “Other accrued liabilities” caption in the accompanying consolidated balance sheets. Employees of the Company who are members of various unions are covered by union-sponsored, collectively bargained, multi-employer health and welfare and defined benefit pension plans. The Company recorded an expense of $86 million in 2004, $77 million in 2003 and $66 million in 2002 under such plans. The plans' sponsors have not provided sufficient information to permit the Company to  determine its share of unfunded vested benefits, if any. Y ear Ended December 31 (In thousands) 2004 2003 2002 August 2001 authorization (0, 1.4 million  and 6.4 million shares purchased). . . . . . . . . . . . .  $ — $ 36,034 $ 207,590 February 2003 authorization  (10 million shares purchased) . . . . . . . . . . . . . . . .  — 335,911 — November 2003 authorization (8 million  and 2 million shares purchased) . . . . . . . . . . . . . .  348,895 70,919 — $ 348,895 $ 442,864 $ 207,590 Average price of shares repurchased . . . . . . . . . . . . .  $ 43.59 $ 33.17 $ 32.28