ANALOG DEVICES, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The total intrinsic value of options exercised (i. e.  the difference between the market price at exercise and the price paid by the employee to exercise the options) during fiscal 2011, 2010 and 2009 was $96.5 million, $29.6 million and $4.7 million, respectively.
The total amount of proceeds received by the Company from exercise of these options during fiscal 2011, 2010 and 2009 was $217.4 million, $240.4 million and $15.1 million, respectively.
Proceeds from stock option exercises pursuant to employee stock plans in the Company’s statement of cash flows of $217.2 million, $216.1 million and $12.4 million for fiscal 2011, 2010 and 2009, respectively, are net of the value of shares surrendered by employees in certain limited circumstances to satisfy the exercise price of options, and to satisfy employee tax obligations upon vesting of restricted stock or restricted stock units and in connection with the exercise of stock options granted to the Company’s employees under the Company’s equity compensation plans.
The withholding amount is based on the Company’s minimum statutory withholding requirement.
A summary of the Company’s restricted stock unit award activity as of October 29, 2011 and changes during the year then ended is presented below:
## Table 0 ##
As of October 29, 2011, there was $88.6 million of total unrecognized compensation cost related to unvested share-based awards comprised of stock options and restricted stock units.
That cost is expected to be recognized over a weighted-average period of 1.3 years.
The total grant-date fair value of shares that vested during fiscal 2011, 2010 and 2009 was approximately $49.6 million, $67.7 million and $74.4 million, respectively.
Common Stock Repurchase Program The Company’s common stock repurchase program has been in place since August 2004.
In the aggregate, the Board of Directors has authorized the Company to repurchase $5 billion of the Company’s common stock under the program.
Under the program, the Company may repurchase outstanding shares of its common stock from time to time in the open market and through privately negotiated transactions.
Unless terminated earlier by resolution of the Company’s Board of Directors, the repurchase program will expire when the Company has repurchased all shares authorized under the program.
As of October 29, 2011, the Company had repurchased a total of approximately 125.0 million shares of its common stock for approximately $4,278.5 million under this program.
An additional $721.5 million remains available for repurchase of shares under the current authorized program.
The repurchased shares are held as authorized but unissued shares of common stock.
Any future common stock repurchases will be dependent upon several factors, including the amount of cash available to the Company in the United States and the Company’s financial performance, outlook and liquidity.
The Company also from time to time repurchases shares in settlement of employee tax withholding obligations due upon the vesting of restricted stock units, or in certain limited circumstances to satisfy the exercise price of options granted to the Company’s employees under the Company’s equity compensation plans.
CITIZENS FINANCIAL GROUP, INC.  MANAGEMENT’S DISCUSSION AND ANALYSIS
## Table 1 ##
(1) Third quarter 2016 noninterest income included $67 million of pre-tax notable items consisting of a $72 million gain on mortgage/home equity TDR transaction, partially offset by $5 million related to asset finance repositioning.
(2) Third quarter 2016 noninterest expense included $36 million of pre-tax notable items consisting of $17 million of TOP III efficiency initiatives, $11 million related to asset finance repositioning and $8 million of home equity operational items.
(3) Third quarter 2016 net income included $19 million of after-tax notable items consisting of a $45 million gain on mortgage/home equity TDR transaction, partially offset by $11 million of TOP III efficiency initiatives, $10 million related to asset finance repositioning and $5 million of home equity operational items.
(4) Third quarter 2016 net income per average common share, basic and diluted, included $0.04 related to notable items consisting of $0.09 attributable to the gain on mortgage/home equity TDR transaction, partially offset by a $0.02 impact from TOP III efficiency initiatives, $0.02 impact related to asset finance repositioning and a $0.01 impact from home equity operational items.
(5) Second quarter 2015 noninterest expense included $40 million of pre-tax restructuring charges and special items consisting of $25 million of restructuring charges, $1 million of CCAR and regulatory expenses and $14 million related to separation and rebranding.
(6) Second quarter 2015 net income included $25 million of after-tax restructuring charges and special items consisting of $15 million of restructuring charges, $1 million of CCAR and regulatory expenses and $9 million related to separation and rebranding.
(7) Second quarter 2015 net income per average common share, basic and diluted, included $0.05 attributed to restructuring and special items.
(8) First quarter 2015 noninterest expense included $10 million of pre-tax restructuring charges and special items consisting of $1 million of restructuring charges, $1 million of CCAR and regulatory expenses and $8 million related to separation and rebranding.
(9) First quarter 2015 net income included $6 million of after-tax restructuring charges and special items consisting of $1 million of restructuring charges and $5 million related to separation and rebranding.
(10) First quarter 2015 net income per average common share, basic and diluted, included $0.01 attributed to restructuring and special items.
(11) “Return on average common equity” is defined as net income available to common stockholders divided by average common equity.
Average common equity represents average total stockholders’ equity less average preferred stock.
(12) “Return on average tangible common equity” is defined as net income (loss) available to common stockholders divided by average common equity excluding average goodwill (net of related deferred tax liability) and average other intangibles.
Average common equity represents average total stockholders’ equity less average preferred stock.
(13) “Return on average total assets” is defined as net income (loss) divided by average total assets.
(14) “Return on average total tangible assets” is defined as net income (loss) divided by average total assets excluding average goodwill (net of related deferred tax liability) and average other intangibles.
(15) “Efficiency ratio is defined as the ratio of our total noninterest expense to the sum of net interest income and total noninterest income.
(16) “Net interest margin” is defined as net interest income divided by average total interest-earning assets.
(17) Ratios for the periods above are presented on an annualized basis.
(18) Excludes loans held for sale of $625 million, $526 million, $850 million, $751 million, $365 million, $420 million, $697 million, and $376 million as of December 31, 2016, September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015, respectively.
(19) Basel III transitional rules for institutions applying the Standardized approach to calculating risk-weighted assets became effective January 1, 2015.
The capital ratios and associated components are prepared using the Basel III Standardized transitional approach.
(20) “Common equity tier 1 capital ratio” represents CET1 capital divided by total risk-weighted assets as defined under Basel III Standardized approach.
(21) “Tier 1 capital ratio” is tier 1 capital, which includes CET1 capital plus non-cumulative perpetual preferred equity that qualifies as additional tier 1 capital, divided by total risk-weighted assets as defined under Basel III Standardized approach.
(22) “Total capital ratio” is total capital divided by total risk-weighted assets as defined under Basel III Standardized approach.
(23) “Tier 1 leverage ratio” is tier 1 capital divided by quarterly average total assets as defined under Basel III Standardized approach.
In Management’s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk, “we,” “us” and “our” refer to Freeport-McMoRan Copper & Gold Inc.  (FCX) and its consolidated subsidiaries.
The results of operations reported and summarized below are not necessarily indicative of future operating results (refer to “Cautionary Statement” for further discussion).
In particular, the financial results for the year ended 2013 include the results of FCX Oil & Gas Inc.  (FM O&G) only since June 1, 2013.
References to “Notes” are Notes included in our Notes to Consolidated Financial Statements.
Throughout Management’s Discussion and Analysis of Financial Condition and Results of Operations and Quantitative and Qualitative Disclosures About Market Risk, all references to earnings or losses per share are on a diluted basis, unless otherwise noted.
OVERVIEW In 2013, we completed the acquisitions of Plains Exploration & Production Company (PXP) and McMoRan Exploration Co.  (MMR).
Refer to Note 2 for further discussion of these acquisitions, including a summary of the preliminary purchase price allocations.
With these acquisitions, we are a premier United States-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and natural gas resources, and a growing production profile.
We are the world’s largest publicly traded copper producer.
Our portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits, significant mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa and significant oil and natural gas assets in North America, including reserves in the Deepwater Gulf of Mexico (GOM), onshore and offshore California, in the Eagle Ford shale play in Texas, in the Haynesville shale play in Louisiana, in the Madden area in central Wyoming, and an industry-leading position in the emerging shallow-water Inboard Lower Tertiary/Cretaceous natural gas trend on the Shelf of the GOM and onshore in South Louisiana (previously referred to as the ultra-deep gas trend).
We have significant mineral reserves, resources and future development opportunities within our portfolio of mining assets.
At December 31, 2013, our estimated consolidated recoverable proven and probable mineral reserves totaled 111.2 billion pounds of copper, 31.3 million ounces of gold and 3.26 billion pounds of molybdenum, which were determined using long-term average prices of $2.00 per pound for copper, $1,000 per ounce for gold and $10 per pound for molybdenum.
Refer to “Critical Accounting Estimates — Mineral Reserves” for further discussion.
A summary of the sources of our consolidated copper, gold and molybdenum production for the year 2013 by geographic location follows:
## Table 2 ##
a.
For 2013, 60 percent of our consolidated molybdenum production in North America was from the Henderson and Climax primary molybdenum mines.
Copper production from the Grasberg, Morenci and Cerro Verde mines totaled 49 percent of our consolidated copper production in 2013.
During 2013, we completed our second phase expansion project at Tenke.
We also advanced construction on the Morenci mill expansion, with startup expected in the first half of 2014, and commenced construction on the Cerro Verde mill expansion, with completion expected in 2016.
These projects are expected to significantly increase our minerals production in future periods.
Refer to “Operations” for further discussion of our mining operations.
Our oil and gas business has significant proved, probable and possible reserves with financially attractive organic growth opportunities.
Our estimated proved oil and natural gas reserves at December 31, 2013, totaled 464 million barrels of oil equivalents (MMBOE), with 80 percent comprised of oil (including natural gas liquids, or NGLs).
Our portfolio includes a broad range of development opportunities and high-potential exploration prospects.
For the seven-month period following the acquisition date, our oil and gas sales volumes totaled 38.1 MMBOE, including 26.6 million barrels (MMBbls) of crude oil, 54.2 billion cubic feet (Bcf) of natural gas and 2.4 MMBbls of NGLs.
Refer to “Operations” for further discussion of our oil and gas operations and to “Critical Accounting Estimates — Oil and Natural Gas Reserves” for further discussion of our reserves.
Our results for 2013, compared with 2012, primarily benefited from higher copper and gold sales volumes, partly offset by lower metals price realizations, and include the results of FM O&G beginning June 1, 2013.
Refer to “Consolidated Results” for discussion of items impacting our consolidated results for the three years ended December 31, 2013.
At December 31, 2013, we had $2.0 billion in consolidated cash and cash equivalents and $20.7 billion in total debt, including $10.5 billion of acquisition-related debt and $6.7 billion of debt assumed in connection with the oil and gas acquisitions.
Refer to Note 8 and “Capital Resources and Liquidity” for further discussion.
At current copper and crude oil prices, we expect to produce significant operating cash flows, and to use our cash to invest in our development projects, reduce debt and return cash to shareholders through dividends on our common stock.

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Restricted Stock Units Outstanding	Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units outstanding at October 30, 2010	1,265	$28.21
Units granted	898	$34.93
Restrictions lapsed	-33	$24.28
Units forfeited	-42	$31.39
Restricted stock units outstanding at October 29, 2011	2,088	$31.10

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As of
(dollars in millions)	December 31,2016	September 30,2016	June 30,2016	March 31,2016	December 31,2015	September 30,2015	June 30,2015	March 31,2015
Balance Sheet Data:
Total assets	$149,520	$147,015	$145,183	$140,077	$138,208	$135,447	$137,251	$136,535
Loans and leases-18	107,669	105,467	103,551	100,991	99,042	97,431	96,538	94,494
Allowance for loan and lease losses	1,236	1,240	1,246	1,224	1,216	1,201	1,201	1,202
Total securities	25,610	25,704	24,398	24,057	24,075	24,354	25,134	25,121
Goodwill	6,876	6,876	6,876	6,876	6,876	6,876	6,876	6,876
Total liabilities	129,773	126,834	124,957	120,112	118,562	115,847	117,665	116,971
Deposits	109,804	108,327	106,257	102,606	102,539	101,866	100,615	98,990
Federal funds purchased and securities sold under agreements to repurchase	1,148	900	717	714	802	1,293	3,784	4,421
Other short-term borrowed funds	3,211	2,512	2,770	3,300	2,630	5,861	6,762	7,004
Long-term borrowed funds	12,790	11,902	11,810	10,035	9,886	4,153	3,890	3,904
Total stockholders’ equity	19,747	20,181	20,226	19,965	19,646	19,600	19,586	19,564
Other Balance Sheet Data:
Asset Quality Ratios:
Allowance for loan and lease losses as a percentage of total loans and leases	1.15%	1.18%	1.20%	1.21%	1.23%	1.23%	1.24%	1.27%
Allowance for loan and lease losses as a percentage of nonperforming loans and leases	118	112	119	113	115	116	114	106
Nonperforming loans and leases as a percentage of total loans and leases	0.97	1.05	1.01	1.07	1.07	1.06	1.09	1.20
Capital ratios:-19
CET1 capital ratio-20	11.2	11.3	11.5	11.6	11.7	11.8	11.8	12.2
Tier 1 capital ratio-21	11.4	11.5	11.7	11.9	12.0	12.0	12.1	12.2
Total capital ratio-22	14.0	14.2	14.9	15.1	15.3	15.4	15.3	15.5
Tier 1 leverage ratio-23	9.9	10.1	10.3	10.4	10.5	10.4	10.4	10.5

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Copper	Gold	Molybdenum
North America	35%	1%	86%	a
South America	32%	8%	14%
Indonesia	22%	91%	—
Africa	11%	—	—
100%	100%	100%

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Question: what was the average share price that the shares were repurchased in 2011?
Answer: 34.228