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Earnings Per Share Computation of Basic and Diluted Income Per Common Share (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Earnings Per Share [Line Items]                      
Net income $ 228,101 [1],[2] $ 84,682 [1],[3] $ 66,252 [1],[4] $ 62,294 [1] $ 58,879 [1],[5] $ 39,681 [1],[6] $ 45,854 [1],[6] $ 15,826 [1],[7] $ 441,329 [1] $ 160,240 [1] $ 158,805
Weighted average basic common shares outstanding                 96,579 96,384 99,281
Stock options, unvested restricted stock, and performance units                 968 1,113 1,095
Diluted common shares outstanding                 97,547 97,497 100,376
Basic income per common share $ 2.36 [1],[2] $ 0.88 [1],[3] $ 0.69 [1],[4] $ 0.65 [1] $ 0.61 [1],[5] $ 0.41 [1],[6] $ 0.48 [1],[6] $ 0.16 [1],[7] $ 4.57 [1] $ 1.66 [1] $ 1.60
Diluted income per common share $ 2.34 [1],[2] $ 0.87 [1],[3] $ 0.68 [1],[4] $ 0.64 [1] $ 0.60 [1],[5] $ 0.41 [1],[6] $ 0.47 [1],[6] $ 0.16 [1],[7] $ 4.52 [1] $ 1.64 [1] $ 1.58
[1] Amounts have been adjusted for the change in inventory accounting method from LIFO to average cost.
[2] Includes Boise's results for the period of October 25, 2013, through December 31, 2013. The quarter also includes $166.0 million of income tax benefits from the reversal of the reserves for unrecognized tax benefits from alternative energy tax credits ($1.70 per diluted share), partially offset by $21.5 million of expense for the acquisition inventory step-up ($13.6 million after tax or $0.14 per diluted share), $15.8 million of acquisition-related costs ($10.0 million after tax or $0.10 per diluted share), $8.9 million of acquisition-related financing costs ($5.6 million after tax or $0.06 per diluted share), and $17.4 million of integration-related and other costs ($11.0 million after tax or $0.11 per diluted share).
[3] Includes a $3.1 million non-cash pension curtailment charge ($2.0 million after tax or $0.02 per diluted share), $1.5 million of acquisition-related costs ($1.0 million after tax or $0.01 per diluted share), and $2.7 million of acquisition-related financing costs ($1.8 million after tax or $0.02 per diluted share).
[4] Includes a $7.8 million non-cash pension curtailment charge ($5.0 million after tax or $0.05 per diluted share).
[5] Includes $3.4 million of income from state income tax adjustments ($0.03 per diluted share), partially offset by $2.0 million of plant closure charges ($1.4 million after tax or $0.01 per diluted share).
[6] The second and third quarters of 2012 include debt refinancing charges of $3.7 million ($2.5 million after tax or $0.03 per diluted share) and $21.1 million ($13.5 million after tax or $0.14 per diluted share), respectively.
[7] During the first quarter of 2012, PCA amended its 2009 federal income tax return to reduce the gallons claimed as cellulosic biofuel producer credits previously recorded as a tax benefit and to increase those gallons claimed as alternative fuel mixture credits previously recorded as income. The increase in gallons claimed as alternative fuel mixture credits resulted in income of $95.5 million. The decrease in gallons claimed as cellulosic biofuel producer credits resulted in a decrease in tax benefits of $118.5 million, for a total decrease in net income of $23.0 million ($0.24 per diluted share).