XML 60 R24.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Net Earnings Per Common Share | 9 Months Ended
--- | ---
Sep. 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 |  |  | Nine Months Ended |
| September 30, |  |  | September 30, |
| 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Basic Net Earnings Per Common Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings available to common stockholders | $ | 59.3 |  |  | $ | 37.6 |  |  | $ | 191.3 |  |  | $ | 96.6 |
Distributed and allocated undistributed net earnings to non-vested restricted stockholders |  | (0.4 | ) |  |  | (0.2 | ) |  |  | (1.1 | ) |  |  | (0.5 | )
Distributed and allocated undistributed net earnings to common stockholders |  | 58.9 |  |  |  | 37.4 |  |  |  | 190.2 |  |  |  | 96.1 |
Distributed net earnings - dividends paid to common stockholders |  | (27.4 | ) |  |  | (25.3 | ) |  |  | (82.9 | ) |  |  | (75.9 | )
Allocation of undistributed net earnings to common stockholders | $ | 31.5 |  |  | $ | 12.1 |  |  | $ | 107.3 |  |  | $ | 20.2 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding - basic |  | 210.4 |  |  |  | 194.9 |  |  |  | 210.2 |  |  |  | 194.5 |
Basic net earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distributed net earnings to common stockholders | $ | 0.13 |  |  | $ | 0.13 |  |  | $ | 0.39 |  |  | $ | 0.39 |
Allocated undistributed net earnings to common stockholders |  | 0.15 |  |  |  | 0.06 |  |  |  | 0.52 |  |  |  | 0.10 |
Basic net earnings per common share: | $ | 0.28 |  |  | $ | 0.19 |  |  | $ | 0.91 |  |  | $ | 0.49 |
Diluted Net Earnings Per Common Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distributed and allocated undistributed net earnings to common stockholders | $ | 58.9 |  |  | $ | 37.4 |  |  | $ | 190.2 |  |  | $ | 96.1 |
Add: Allocated undistributed net earnings to non-vested restricted stockholders |  | 0.2 |  |  |  | 0.1 |  |  |  | 0.6 |  |  |  | 0.1 |
Less: Undistributed net earnings reallocated to non-vested restricted stockholders |  | (0.2 | ) |  |  | (0.1 | ) |  |  | (0.6 | ) |  |  | (0.1 | )
Net earnings available to common stockholders - diluted | $ | 58.9 |  |  | $ | 37.4 |  |  | $ | 190.2 |  |  | $ | 96.1 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding - basic |  | 210.4 |  |  |  | 194.9 |  |  |  | 210.2 |  |  |  | 194.5 |
Effect of assumed issuance of Settlement agreement shares (1) |  | — |  |  |  | 18.0 |  |  |  | 2.2 |  |  |  | 18.0 |
Effect of contingently issuable shares |  | 1.9 |  |  |  | 1.6 |  |  |  | 1.8 |  |  |  | 1.5 |
Effect of non-vested restricted stock units |  | 1.2 |  |  |  | 0.8 |  |  |  | 1.1 |  |  |  | 0.9 |
Weighted average number of common shares outstanding - diluted |  | 213.5 |  |  |  | 215.3 |  |  |  | 215.3 |  |  |  | 214.9 |
Diluted net earnings per common share | $ | 0.28 |  |  | $ | 0.18 |  |  | $ | 0.88 |  |  | $ | 0.45 |
(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 September 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 For the three and nine month periods ended September 30, 2014 and 2013, we included contingently issuable shares for our PSU awards in the diluted weighted average number of common shares outstanding based on the number of contingently issuable shares that would be issued assuming the end of our reporting period was the end of the relevant PSU award contingency period. We included 1.9 million shares in the three months ended September 30, 2014 and 1.8 million shares in the nine months ended September 2014 related to our 2012, 2013 and 2014 PSU awards in the diluted weighted average number of common shares outstanding due to the achievement levels of their respective performance conditions as of September 30, 2014. In 2014, we revised our diluted weighted average number of common shares outstanding to include 1.6 million shares in the three months ended September 30, 2013 and 1.5 million shares in the nine months ended September 30, 2013 related to our 2011, 2012 and 2013 PSU awards in the diluted weighted average number of common shares outstanding due to the achievement levels of their respective performance conditions as of September 30, 2013. During the three months ended September 30, 2014, we determined that we did not include any PSU awards in our diluted weighted average number of common shares outstanding previously reported in 2014 and 2013, although the achievement levels of the respective performance conditions for the PSU awards were met at the end of each of the respective reporting periods in 2014 and 2013. The impact of not including these shares in the previously reported periods in 2014 and 2013 was not material to the calculation of the weighted average shares included in the diluted net earnings per common share under the two-class method and had no impact on diluted net earnings per common share for these periods. Accordingly, we do not consider this correction to be material to our previously reported diluted weighted average number of common shares outstanding or to our previously reported net earnings per common share. The previously reported, and revised diluted weighted average number of common shares outstanding to include the achievement of PSU awards in each previous reporting period of 2014 and 2013 are as follows:
| 2014 |
| Three Months Ended |  |  | Three Months Ended |  |  | Six Months Ended |
| March 31, 2014 |  |  | June 30, 2014 |  |  | June 30, 2014 |
Previously reported diluted weighted average number of common shares outstanding |  | 214.5 |  |  |  | 214.7 |  |  |  | 214.6 |
Revised diluted weighted average number of common shares outstanding |  | 216.0 |  |  |  | 216.4 |  |  |  | 216.2 |
| 2013 |
| Three Months Ended |  |  | Three Months Ended |  |  | Six Months Ended |  |  | Three Months Ended |  |  | Nine Months Ended |  |  | Three Months Ended |  |  | Year Ended |
| March 31, 2013 |  |  | June 30, 2013 |  |  | June 30, 2013 |  |  | September 30, 2013 |  |  | June 30, 2013 |  |  | December 31, 2013 |  |  | December 31, 2013 |
Previously reported diluted weighted average number of common shares outstanding |  | 212.7 |  |  |  | 213.6 |  |  |  | 213.2 |  |  |  | 213.7 |  |  |  | 213.4 |  |  |  | 213.9 |  |  |  | 213.5 |
Revised diluted weighted average number of common shares outstanding |  | 214.3 |  |  |  | 215.0 |  |  |  | 214.7 |  |  |  | 215.3 |  |  |  | 214.9 |  |  |  | 215.4 |  |  |  | 215.1 |
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 nine months ended September 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 nine ended September 30, 2014 and 2013 were nominal.

X
- Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration