v2.4.1.9
Equity Transactions (Notes)
 12 Months Ended
Dec. 31, 2014
EQUITY TRANSACTIONS: [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
EQUITY TRANSACTIONS
Repurchase of Common Stock
In March 2009, our Board of Directors authorized a $100.0 million share repurchase program (the “2009 Repurchase Program”). We repurchased shares under the 2009 Repurchase Program through pre-arranged trading plans and completed the program in second quarter 2012. In May 2012, our Board of Directors authorized a share repurchase program, which was then expanded in June 2012 to increase the amount of the program from $100 million to $200 million (the "2012 Repurchase Program"). Of the $200 million authorized under the 2012 Repurchase Program, $106.8 million was utilized prior to the termination of the program in June 2014. In June 2014, our Board of Directors authorized a new $300 million share repurchase program (the “2014 Repurchase Program"). We may repurchase shares under the 2014 Repurchase Program through open market purchases, pre-arranged trading plans or privately negotiated purchases.
    The table below sets forth for the periods presented the number of shares repurchased and the dollar value of shares repurchased under the 2009 Repurchase Program, the 2012 Repurchase Program and the 2014 Repurchase Program, in thousands.
 
2009 Repurchase Program
 
2012 Repurchase Program
 
2014 Repurchase Program
 
Total All Programs
 
# of Shares
 
Value
 
# of Shares
 
Value
 
# of Shares
 
Value
 
# of Shares
 
Value
2014
—

 
$
—

 
—

 
$
—

 
3,554

 
$
152,625

 
3,554

 
$
152,625

2013
—

 
—

 
917

 
29,135

 
—

 
—

 
917

 
29,135

2012
2,286

 
75,000

 
2,552

 
77,694

 
—

 
—

 
4,838

 
152,694

Prior to 2012
1,012

 
25,000

 
—

 
—

 
—

 
—

 
1,012

 
25,000

Total
3,298

 
$
100,000

 
3,469

 
$
106,829

 
3,554

 
$
152,625

 
10,321

 
$
359,454

Dividends
Cash dividends on outstanding common stock declared in 2014 and 2013 were as follows (in thousands, except per share data):
2014
Per Share
 
Total
 
Cumulative by Fiscal Year
First quarter
$
0.10

 
$
3,954

 
$
3,954

Second quarter
0.20

 
8,033

 
11,987

Third quarter
0.20

 
7,666

 
19,653

Fourth quarter
0.20

 
7,500

 
27,153

 
$
0.70

 
$
27,153

 
 
 
 
 
 
 
 
2013
 
 
 
 
 
First quarter
$
0.10

 
$
4,115

 
$
4,115

Second quarter
0.10

 
4,118

 
8,233

Third quarter
0.10

 
4,119

 
12,352

Fourth quarter
0.10

 
4,031

 
16,383

 
$
0.40

 
$
16,383

 
 

In June 2014, we announced that our Board of Directors had approved a 100% increase in the Company's quarterly cash dividend, to $0.20 per share. We currently expect to continue to pay dividends comparable to our quarterly $0.20 per share cash dividend in the future; however, continued payment of cash dividends and changes in the Company's dividend policy will depend on the Company's earnings, financial condition, capital resources and capital requirements, alternative uses of capital, restrictions imposed by any existing debt, economic conditions and other factors considered relevant by our Board of Directors.
Common Stock Warrants
On March 29, 2011 and March 30, 2011, we entered into privately negotiated warrant transactions with Barclays Bank PLC through its agent, Barclays Capital Inc., whereby we sold to Barclays Bank PLC warrants to acquire, subject to customary anti-dilution adjustments, approximately 3.5 million and approximately 0.5 million shares of our common stock, respectively, at a strike price of $64.0909 per share, also subject to adjustment, as updated. The warrants become exercisable in tranches starting in June 2016. In consideration for the warrants issued on March 29, 2011 and March 30, 2011, the company received $27.6 million and $4.1 million, respectively, on April 4, 2011.