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Shareholders' Equity
 6 Months Ended
Jun. 30, 2013
Shareholders' Equity
7. SHAREHOLDERS’ EQUITY

Common Stock Dividends

We paid cash dividends of $0.25, $0.62, $0.50 and $1.24 per share of Common stock and Class B common stock during the quarters and six months ended June 30, 2013 and 2012, respectively.

Non-Vested (Restricted) Stock

We did not grant any shares of non-vested (restricted) stock during the quarters ended June 30, 2013 and 2012. During the six months ended June 30, 2013 and 2012, we granted 85,543 and 58,301 shares of non-vested (restricted) stock, respectively.

Stock Options

During the quarters ended June 30, 2013 and 2012, 2,500 and 69,334 stock options, respectively, were exercised for Common stock. During the six months ended June 30, 2013 and 2012, 9,500 and 90,834 stock options, respectively, were exercised for Common stock. Cash received from Common stock issued as a result of stock options exercised during the quarters and six months ended June 30, 2013 and 2012, was $39, $1,822, $377 and $2,809, respectively. During the quarter and six months ended June 30, 2012, 19,567 shares of Common stock with an aggregate fair market value of $1,449 were delivered as payment in lieu of cash for stock option exercises and related tax withholdings. We retired these shares upon delivery.

 

Employee Stock Purchase Plan

During the quarters ended June 30, 2013 and 2012, 1,744 and 2,632, shares of Common stock were issued under our employee stock purchase plan for which we received net proceeds of $140 and $186, respectively. During the six months ended June 30, 2013 and 2012, 3,926 and 5,594 shares of Common stock were issued under our employee stock purchase plan for which we received net proceeds of $299 and $380, respectively.

401(k) Plan

During the six months ended June 30, 2013 and 2012, we issued 22,551 and 26,991 shares of Common stock to our profit sharing retirement plan representing the Common stock discretionary matching contribution of $1,689 and $1,772, respectively.

Noncontrolling Interest

We have a 60% controlling interest in both Carrier Enterprise II and Carrier Enterprise III, and Carrier has a 40% noncontrolling interest in each. Effective July 2, 2012, our controlling interest in Carrier Enterprise I increased to 70% from 60%, following our exercise of the option described in Note 6. The following table reconciles shareholders’ equity attributable to Carrier’s noncontrolling interest:

 

Noncontrolling interest at December 31, 2012

    $ 273,826   

Net income attributable to noncontrolling interest

      28,968   

Foreign currency translation adjustment

      (5,764 ) 

Distributions to noncontrolling interest

      (1,852 ) 
  

 

 

  

Noncontrolling interest at June 30, 2013

    $ 295,178