We are well-positioned to deliver on our 2012 objective of 50 basis points or more of margin improvement. Q2 diluted earnings per share were $0.22, an improvement of 16% from a year ago. Diluted shares decreased 13% as a result of our share repurchase program and the elimination of the convertible notes retired earlier this year.
We continue to place a priority on returning capital to shareholders in the quarter. During the second quarter, we repurchased another 6 million shares, bringing our first half total to 11 million shares. Along with our quarterly common stock dividend, we returned over $170 million to shareholders in the first half of 2012. Given the seasonality of our cash flows, we are planning to increase our share repurchase activity in the second half of 2012.