Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2014

Stockholders' Equity Note [Abstract]

Authorized, Issued, and Outstanding Shares

Our authorized, issued, and outstanding shares (stated in whole numbers) consist of the following:



	Par Value		March 31, 2014	December 31, 2013	March 31, 2013
Preferred stock	$.01	/share
Shares authorized			5,000,000	5,000,000	5,000,000
Shares issued and outstanding			—	—	—
Common stock	$.01	/share
Shares authorized			400,000,000	400,000,000	400,000,000
Shares issued and outstanding			296,624,319	296,753,544	296,686,427

Schedule of Dividends Paid Previously or Declared

The following table presents the dividends either paid previously or declared by our board of directors for future payment:



	2014		2013
First quarter	$	0.25	$	0.10
Second quarter	0.25		0.20
Third quarter			0.25
Fourth quarter			0.25
Total	$	0.50	$	0.80

Stock Options Granted

The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used to value these options. All options granted were effective at the close of business on the date of grant.



	Options Granted	Option Exercise (Strike) Price		Closing Stock Price on Date of Grant		March 31, 2014
Date of Grant	Options Granted	Option Exercise (Strike) Price		Closing Stock Price on Date of Grant		Options Outstanding	Options Exercisable
April 16, 2013	205,000	$	54.00	$	49.25	172,500	—
April 17, 2012	1,235,000	$	54.00	$	49.01	1,115,000	—
April 19, 2011	410,000	$	35.00	$	31.78	340,000	25,000
April 20, 2010	530,000	$	30.00	$	27.13	300,000	—
April 21, 2009	790,000	$	27.00	$	17.61	411,600	171,600
April 15, 2008	550,000	$	27.00	$	24.35	197,500	103,750
April 17, 2007	4,380,000	$	22.50	$	20.15	1,719,255	1,071,255
Total	8,100,000					4,255,855	1,371,605

Fair Value Assumptions for Options Granted



Date of Grant	Risk-free Interest Rate		Expected Life of Option in Years	Expected Dividend Yield		Expected Stock Volatility		Estimated Fair Value of Stock Option
April 16, 2013	0.7	%	5.00	1.6	%	37.42	%	$	12.66
April 17, 2012	0.9	%	5.00	1.4	%	39.25	%	$	13.69
April 19, 2011	2.1	%	5.00	1.6	%	39.33	%	$	11.20
April 20, 2010	2.6	%	5.00	1.5	%	39.10	%	$	8.14
April 21, 2009	1.9	%	5.00	1.0	%	38.80	%	$	3.64
April 15, 2008	2.7	%	5.00	1.0	%	30.93	%	$	7.75
April 17, 2007	4.6	%	4.85	1.0	%	31.59	%	$	5.63

Reconciliation of Denominators used in Computation of Basic and Diluted Earnings Per Share

The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summary of the options to purchase shares of common stock which were excluded from the diluted earnings calculation because they were anti-dilutive:



	Three-month Period
Reconciliation	2014	2013
Basic weighted average shares outstanding	296,641,994	296,643,014
Weighted shares assumed upon exercise of stock options	853,176	1,008,946
Diluted weighted average shares outstanding	297,495,170	297,651,960

Anti-Dilutive Options Excluded



	Three-month Period
Summary of Anti-dilutive Options Excluded	2014	2013
Options to purchase shares of common stock	1,292,528	1,168,083
Weighted average exercise prices of options	$54.00	$54.00