to $3.0 billion of our stock during 2012, net of proceeds from the issuance of stock due to the exercise of employee stock options. 

Dividends 

At its February 2012 meeting, our Board of Directors increased our quarterly dividend by 8.5 percent, raising it to $0.51 per share, equivalent to a full year dividend of $2.04 per share in 2012. This is our 50th consecutive annual increase. Our annual common stock dividend was $1.88 per share, $1.76 per share and $1.64 per share in 2010, 2009 and 2008, respectively. The 2011 dividend represented a 7 percent increase from 2010, and the 2010 dividend represented a 7 percent increase from 2009. 

Off-Balance Sheet Arrangements and Aggregate Contractual Obligations 

Off-Balance Sheet Arrangements 

In accordance with the definition under SEC rules, the following qualify as off-balance sheet arrangements: 

• any obligation under certain guarantee contracts; 

• a retained or contingent interest in assets transferred to an unconsolidated entity or similar arrangement that serves as credit, liquidity or market risk support to that entity for such assets; 

• any obligation under certain derivative instruments; and 

• any obligation arising out of a material variable interest held by the registrant in an unconsolidated entity that provides financing, liquidity, market risk or credit risk support to the registrant, or engages in leasing, hedging or research and development services with the registrant. 

As of December 31, 2011, we were contingently liable for guarantees of indebtedness owed by third parties of $654 million, of which $321 million was related to VIEs. These guarantees are primarily related to third-party customers, bottlers, vendors and container manufacturing operations and have arisen through the normal course of business. These guarantees have various terms, and none of these guarantees was individually significant. The amount represents the maximum potential future payments that we could be required to make under the guarantees; however, we do not consider it probable that we will be required to satisfy these guarantees. Management concluded that the likelihood of any significant amounts being paid by our Company under these guarantees is not probable. As of December 31, 2011, we were not directly liable for the debt of any unconsolidated entity, and we did not have any retained or contingent interest in assets as defined above. 

Our Company recognizes all derivatives as either assets or liabilities at fair value in our consolidated balance sheets. Refer to Note 5 of Notes to Consolidated Financial Statements. 

As of December 31, 2011, the Company had $4,625 million in lines of credit for general corporate purposes, including commercial paper backup. These backup lines of credit expire at various times from 2012 through 2016. There were no borrowings under these backup lines of credit during 2011. These credit facilities are subject to normal banking terms and conditions. Some of the financial arrangements require compensating balances, none of which is presently significant to our Company. 

The total accrued benefit liability for pension and other postretirement benefit plans