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Net Earnings Per Common Share | 6 Months Ended
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Jun. 30, 2014
Earnings Per Share [Abstract] |
Net Earnings Per Common Share | (17) Net Earnings Per Common Share The following table shows the calculation of basic and diluted net earnings per common share under the two-class method:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Basic Net Earnings Per Common Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders |  | $ | 60.3 |  |  | $ | 56.3 |  |  | $ | 132.1 |  |  | $ | 59.0 |
Distributed and allocated undistributed net earnings to non-vested restricted stockholders |  |  | (0.3 | ) |  |  | (0.2 | ) |  |  | (0.7 | ) |  |  | (0.3 | )
Distributed and allocated undistributed net earnings to common stockholders |  |  | 60.0 |  |  |  | 56.1 |  |  |  | 131.4 |  |  |  | 58.7 |
Distributed net earnings - dividends paid to common stockholders |  |  | (27.9 | ) |  |  | (25.3 | ) |  |  | (55.6 | ) |  |  | (50.6 | )
Allocation of undistributed net earnings to common stockholders |  | $ | 32.1 |  |  | $ | 30.8 |  |  | $ | 75.8 |  |  | $ | 8.1 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding - basic |  |  | 213.5 |  |  |  | 194.8 |  |  |  | 210.1 |  |  |  | 194.3 |
Basic net earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distributed net earnings to common stockholders |  | $ | 0.13 |  |  | $ | 0.13 |  |  | $ | 0.26 |  |  | $ | 0.26 |
Allocated undistributed net earnings (loss) to common stockholders |  |  | 0.15 |  |  |  | 0.16 |  |  |  | 0.37 |  |  |  | 0.04 |
Basic net earnings per common share: |  | $ | 0.28 |  |  | $ | 0.29 |  |  | $ | 0.63 |  |  | $ | 0.30 |
Diluted Net Earnings Per Common Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distributed and allocated undistributed net earnings to common stockholders |  | $ | 60.0 |  |  | $ | 56.1 |  |  | $ | 131.4 |  |  | $ | 58.7 |
Add: Allocated undistributed net earnings to non-vested restricted stockholders |  |  | 0.2 |  |  |  | 0.1 |  |  |  | 0.5 |  |  |  | 0.1 |
Less: Undistributed net earnings reallocated to non-vested restricted stockholders |  |  | (0.2 | ) |  |  | (0.1 | ) |  |  | (0.5 | ) |  |  | (0.1 | )
Net earnings available to common stockholders - diluted |  | $ | 60.0 |  |  | $ | 56.1 |  |  | $ | 131.4 |  |  | $ | 58.7 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding - basic |  |  | 213.5 |  |  |  | 194.8 |  |  |  | 210.1 |  |  |  | 194.3 |
Effect of assumed issuance of Settlement agreement shares (1) |  |  | — |  |  |  | 18.0 |  |  |  | 3.3 |  |  |  | 18.0 |
Effect of non-vested restricted stock units |  |  | 1.2 |  |  |  | 0.8 |  |  |  | 1.2 |  |  |  | 0.9 |
Weighted average number of common shares outstanding - diluted |  |  | 214.7 |  |  |  | 213.6 |  |  |  | 214.6 |  |  |  | 213.2 |
Diluted net earnings per common share |  | $ | 0.28 |  |  | $ | 0.26 |  |  | $ | 0.61 |  |  | $ | 0.28 |
(1) | For 2014, the shares included above represent the weighted average number of shares from January 1, 2014 through February 3, 2014. The weighted average number of shares from February 4, 2014 through June 30, 2014 are included in the weighted average number of common shares outstanding-basic since they were issued on February 3, 2014 in connection with the Settlement agreement.
PSU Awards Since the PSU awards include contingently issuable shares that are based on conditions other than earnings or market price, they are included in the diluted weighted average number of common shares outstanding when we meet the performance conditions as of that date. Shares related to the 2012, 2013 and 2014 PSU awards were not included in the diluted weighted average number of common shares outstanding for the three months and six months ended June 30, 2014 because the target levels of their respective performance conditions were not met as of June 30, 2014. Stock Leverage Opportunity Awards (“SLO”) The shares or units associated with the 2014 SLO awards are considered contingently issuable shares and therefore are not included in the basic or diluted weighted average number of common shares outstanding for the three months and six months ended June 30, 2014. These shares or units will not be included in the common shares outstanding until the final determination of the amount of annual incentive compensation is made in the first quarter of 2015. Once this determination is made, the shares or units will be included in diluted weighted average number of common shares outstanding if the impact to diluted net earnings per common share is dilutive. The numbers of shares or units associated with SLO awards for the three months and six ended June 30, 2014 and 2013 were nominal.

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