AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following table sets forth basic and diluted income from continuing operations per common share computational data for the years ended December 31, 2012, 2011 and 2010 (in thousands, except per share data):
## Table 0 ##
For the year ended December 31, 2010, the weighted average number of common shares outstanding excludes shares issuable upon conversion of the Company’s convertible notes of 0.1 million.
For the years ended December 31, 2012, 2011 and 2010, the diluted weighted average number of common shares outstanding excludes shares issuable upon exercise of the Company’s stock options and share based awards of 1.0 million, 0.9 million and 1.1 million, respectively, as the effect would be anti-dilutive.18.
COMMITMENTS AND CONTINGENCIES Litigation—The Company periodically becomes involved in various claims, lawsuits and proceedings that are incidental to its business.
In the opinion of Company management, after consultation with counsel, there are no matters currently pending that would, in the event of an adverse outcome, materially impact the Company’s consolidated financial position, results of operations or liquidity.
SEC Subpoena—On June 2, 2011, the Company received a subpoena from the Securities and Exchange Commission (the “SEC”) requesting certain documents from 2007 through the date of the subpoena, including in particular documents related to our tax accounting and reporting.
On November 6, 2012, the SEC notified the Company that the SEC’s investigation has been completed.
The SEC indicated that it does not intend to recommend any enforcement action against the Company.
Mexico Litigation—One of the Company’s subsidiaries, SpectraSite Communications, Inc.  (“SCI “), a predecessor in interest by conversion to SpectraSite Communications, LLC, was involved in a lawsuit brought in Mexico against a former Mexican subsidiary of SCI (the subsidiary of SCI was sold in 2002, prior to the Company’s acquisition of SCI in 2005).
The lawsuit concerns a terminated tower construction contract and related agreements with a wireless carrier in Mexico.
The primary issue for the Company is whether SCI itself can be found liable to the Mexican carrier.
The trial and lower appellate courts initially found that SCI had no such liability in part because Mexican courts did not have the necessary jurisdiction over SCI.
In September 2010, following several decisions by Mexican appellate courts, including the Supreme Court of Mexico, and related appeals by both parties, an intermediate appellate court issued a new decision that would have, if enforceable, re-imposed liability on SCI if the primary defendant in the case were unable to satisfy the judgment.
In its decision, the intermediate appellate court identified potential damages, in the form of potential statutory interest, of approximately $6.7 million as of that date.
On October 14, 2010, the Company filed a new constitutional appeal to again dispute the decision, which was rejected on January 24, 2012.
The case was
Issuer Purchases of Equity Securities During the three months ended December 31, 2012, we repurchased 619,314 shares of our common stock for an aggregate of approximately $46.0 million, including commissions and fees, pursuant to our publicly announced stock repurchase program, as follows:
## Table 1 ##
(1) Repurchases made pursuant to the $1.5 billion stock repurchase program approved by our Board of Directors in March 2011 (the “2011 Buyback”).
Under this program, our management is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements, and subject to market conditions and other factors.
To facilitate repurchases, we make purchases pursuant to trading plans under Rule 10b5-1 of the Exchange Act, which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.
This program may be discontinued at any time.
(2) Average price per share is calculated using the aggregate price, excluding commissions and fees.
We continued to repurchase shares of our common stock pursuant to our 2011 Buyback subsequent to December 31, 2012.
Between January 1, 2013 and January 21, 2013, we repurchased an additional 15,790 shares of our common stock for an aggregate of $1.2 million, including commissions and fees, pursuant to the 2011 Buyback.
As a result, as of January 21, 2013, we had repurchased a total of approximately 4.3 million shares of our common stock under the 2011 Buyback for an aggregate of $245.2 million, including commissions and fees.
We expect to continue to manage the pacing of the remaining $1.3 billion under the 2011 Buyback in response to general market conditions and other relevant factors.
## Table 2 ##
(1) For the years ended December 31, 2012 and 2011, amount includes approximately $0.8 million and $1.1 million, respectively, in stock-based compensation expense.
For the years ended December 31, 2008 through 2010, there was no stock-based compensation expense included.
(2) For the years ended December 31, 2012 and 2011, amount includes approximately $1.0 million and $1.2 million, respectively, in stock-based compensation expense.
For the years ended December 31, 2008 through 2010, there was no stock-based compensation expense included.
(3) In 2008, we completed a review of the estimated useful lives of our tower assets.
Based upon this review, we revised the estimated useful lives of our towers and certain related intangible assets, primarily our network location intangible assets, from our historical estimate of 15 years to a revised estimate of 20 years.
We accounted for this change as a change in estimate, which was accounted for prospectively, effective January 1, 2008.
For the year ended December 31, 2008, the change resulted in a reduction in depreciation and amortization expense of approximately $121.2 million and an increase in net income of approximately $74.4 million.
(4) For the years ended December 31, 2012, 2011, 2010, 2009 and 2008 amount includes approximately $50.2 million, $45.1 million, $52.6 million, $60.7 million and $54.8 million, respectively, in stock-based compensation expense.
(5) We ceased to consolidate Verestar, Inc’s (“Verestar”) financial results beginning in December 2003 and reported the results as discontinued operations.
Income from discontinued operations for 2008 includes an income tax benefit of $110.1 million related to losses associated with our investment in Verestar.
(6) Basic income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period.
Diluted income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including unvested restricted stock, shares issuable upon exercise of stock options and warrants as determined under the treasury stock method and upon conversion of our convertible notes, as determined under the if-converted method.
Dilutive common share equivalents also include the dilutive impact of the Verizon transaction (see note 18 to our consolidated financial statements included in this Annual Report).
(7) For the purpose of this calculation, “earnings” consists of income from continuing operations before income taxes, income on equity method investments and fixed charges (excluding interest capitalized and amortization of interest capitalized).
“Fixed charges” consists of interest expense, including amounts capitalized, amortization of debt discounts and premiums and related issuance costs and the component of rental expense associated with operating leases believed by management to be representative of the interest factor thereon.
(8) Balances have been revised to reflect purchase accounting measurement period adjustments.
(9) As of December 31, 2012, 2011, 2010, 2009 and 2008, includes approximately $69.3 million, $42.2 million, $76.0 million, $47.8 million and $51.9 million, respectively, in restricted funds pledged as collateral to secure obligations and cash that is otherwise limited by contractual provisions.

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2012	2011	2010
Income from continuing operations attributable to American Tower Corporation	$637,283	$396,462	$372,906
Basic weighted average common shares outstanding	394,772	395,711	401,152
Dilutive securities	4,515	4,484	2,920
Diluted weighted average common shares outstanding	399,287	400,195	404,072
Basic income from continuing operations attributable to
American Tower Corporation per common share	$1.61	$1.00	$0.93
Diluted income from continuing operations attributable to
American Tower Corporation per common share	$1.60	$0.99	$0.92

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Period	Total Number of Shares Purchased-1	Average Price Paid per Share-2	Total Number of Shares Purchased as Part of Publicly Announced Plans orPrograms	Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans orPrograms (in millions)
October 2012	27,524	$72.62	27,524	$1,300.1
November 2012	489,390	$74.22	489,390	$1,263.7
December 2012	102,400	$74.83	102,400	$1,256.1
Total Fourth Quarter	619,314	$74.25	619,314	$1,256.1

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As of December 31,
2012	2011	2010	2009	2008
(In thousands)
Balance Sheet Data:-8
Cash and cash equivalents (including restricted cash)(9)	$437,934	$372,406	$959,935	$295,129	$194,943
Property and equipment, net	5,789,995	4,981,722	3,683,474	3,169,623	3,022,636
Total assets	14,089,129	12,242,395	10,370,084	8,519,931	8,211,665
Long-term obligations, including current portion	8,753,376	7,236,308	5,587,388	4,211,581	4,333,146
Total American Tower Corporation equity	3,573,101	3,287,220	3,501,444	3,315,082	2,991,322

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Question: what was the ratio of the purchase in december 2012 to the purchase in january 2013
Answer: 6.48512