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Unformatted text preview: per share. Hewitt has authorized the issuance of 750 million class. To date, Hewitt’s management has issued (sold) 130,390,880 shares of stock. Hewitt has repurchased 36,163,760 shares from its shareholders. The number of outstanding shares is equal to the issued shares less treasury shares. There were 94,227,120 (130,390,880 ­ 36,163,760) shares outstanding at the end of 2008. P&G’s Common Stock P&G’s Common Stock Sale of Stock Illustrated Sale of Stock Illustrated To illustrate, assume that Hewitt issues 100,000 shares of its $0.01 par value common stock at a market price of $43 cash per share: Repurchase of Stoc...
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