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Convertible Preferred Stock | 12 Months Ended
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Dec. 31, 2013
Features of Convertible Preferred Stock [Abstract] |
Preferred Stock | Convertible Preferred Stock Each share of our 5 1/4% Series B Cumulative Convertible Perpetual Preferred Stock (the “Series B Preferred Stock”) had a liquidation preference of $1,000 per share and was convertible at the option of the holder at any time into shares of our common stock. In addition, the Series B Preferred Stock was convertible at our option if the closing price of our common stock multiplied by the conversion rate in effect at that time equaled or exceeded 130% of the liquidation preference for 20 trading days during any consecutive 30 trading day period. On October 17, 2013, we exercised our option to convert all of our outstanding shares of our Series B Preferred Stock. Prior to the conversion, there were 221,474 shares (actual number) outstanding. Each share of Series B Preferred Stock converted into common shares at a conversation rate of 77.8966 common shares per preferred share, or approximately 17.3 common shares. The company also paid a nominal cash amount in lieu of fractional shares. The shares of Series B Preferred Stock were previously included as eligible dilutive securities in our calculation of diluted share count, and the approximately 17.3 newly issued common shares will now be included in our basic share count. During 2013 and 2012, we paid annual dividends of $11.6, or $52.50 per share, on our Series B Preferred Stock. Dividends were paid in January 15, April 15, July 15, and October 15, 2013.

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- Definition The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. + References No definition available. + Details
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