2007 annual report 41 snap-on 2019s long-term financing strategy is to maintain continuous access to the debt markets to accommodate its liquidity needs .
see note 9 to the consolidated financial statements for further information on snap-on 2019s debt and credit facilities .
the following discussion focuses on information included in the accompanying consolidated statements of cash flow .
cash flow provided from operating activities was $ 231.1 million in 2007 , $ 203.4 million in 2006 , and $ 221.1 million in 2005 .
depreciation expense was $ 53.5 million in 2007 , $ 48.5 million in 2006 and $ 49.5 million in 2005 .
the increase in depreciation from 2006 levels primarily reflects the impact of higher levels of capital spending in 2006 and 2007 .
capital expenditures were $ 61.9 million in 2007 , $ 50.5 million in 2006 and $ 40.1 million in 2005 .
capital expenditures in all three years mainly reflect efficiency and cost-reduction capital investments , including the installation of new production equipment and machine tooling to enhance manufacturing and distribution operations , as well as ongoing replacements of manufacturing and distribution equipment .
capital spending in 2006 and 2007 also included higher levels of spending to support the company 2019s strategic supply chain and other growth initiatives , including the expansion of the company 2019s manufacturing capabilities in lower-cost regions and emerging markets , and for the replacement and enhancement of its existing global enterprise resource planning ( erp ) management information system , which will continue over a period of several years .
snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to fund the company 2019s capital expenditure requirements in 2008 .
amortization expense was $ 22.2 million in 2007 , $ 3.4 million in 2006 and $ 2.7 million in 2005 .
the increase in 2007 amortization expense is primarily due to the amortization of intangibles from the november 2006 acquisition of business solutions .
see note 6 to the consolidated financial statements for information on acquired intangible assets .
snap-on has undertaken stock repurchases from time to time to offset dilution created by shares issued for employee and dealer stock purchase plans , stock options , and other corporate purposes , as well as to repurchase shares when the company believes market conditions are favorable .
in 2007 , snap-on repurchased 1860000 shares of common stock for $ 94.4 million under its previously announced share repurchase programs .
the cash used to repurchase shares of common stock was partially offset by $ 39.2 million of proceeds from stock purchase and option plan exercises and $ 6.0 million of related excess tax benefits .
as of december 29 , 2007 , snap-on had remaining availability to repurchase up to an additional $ 116.8 million in common stock pursuant to the board of directors 2019 ( 201cboard 201d ) authorizations .
the purchase of snap-on common stock is at the company 2019s discretion , subject to prevailing financial and market conditions .
snap-on repurchased 2616618 shares of common stock for $ 109.8 million in 2006 and 912100 shares of common stock for $ 32.1 million in 2005 .
snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to fund the company 2019s share repurchases in 2008 .
on october 3 , 2005 , snap-on repaid its $ 100 million , 10-year , 6.625% ( 6.625 % ) unsecured notes upon their maturity .
the $ 100 million debt repayment was made with available cash on hand .
snap-on has paid consecutive quarterly cash dividends , without interruption or reduction , since 1939 .
cash dividends paid in 2007 , 2006 and 2005 totaled $ 64.8 million , $ 63.6 million and $ 57.8 million , respectively .
on november 1 , 2007 , the company announced that its board increased the quarterly cash dividend by 11.1% ( 11.1 % ) to $ 0.30 per share ( $ 1.20 per share per year ) .
at the beginning of fiscal 2006 , the company 2019s board increased the quarterly cash dividend by 8% ( 8 % ) to $ 0.27 per share ( $ 1.08 per share per year ) . .

2007
2006
2005
cash dividends paid per common share
$ 1.11
$ 1.08
$ 1.00
cash dividends paid as a percent of prior-year retained earnings
5.5% ( 5.5 % )
5.6% ( 5.6 % )
5.2% ( 5.2 % )

cash dividends paid as a percent of prior-year retained earnings 5.5% ( 5.5 % ) 5.6% ( 5.6 % ) 5.2% ( 5.2 % ) snap-on believes that its cash generated from operations , as well as the funds available from its credit facilities , will be sufficient to pay dividends in 2008 .
off-balance sheet arrangements except as set forth below in the section labeled 201ccontractual obligations and commitments , 201d the company had no off- balance sheet arrangements as of december 29 , 2007. .

Question: based on the cash dividends paid , how many common stock shares were outstanding?
Answer: 58909091
Calculation: subtract(64.8, const_1000000), divide(#0, 1.11)