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Preferred stocks | 12 Months Ended
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Dec. 31, 2017
Class of Stock Disclosures [Abstract] |
Preferred stocks | Preferred Stocks Preferred stocks at December 31 were as follows:
| 2017 |  | 2016 |
(In thousands, except shares and per share amounts) |
Authorized: |  |
Preferred - |  |
500,000 shares, cumulative, par value $100, issuable in series |  |
Preferred stock A - |  |
1,000,000 shares, cumulative, without par value, issuable in series (none outstanding) |  |
Preference - |  |
500,000 shares, cumulative, without par value, issuable in series (none outstanding) |  |
Outstanding: |  |
4.50% Series - 100,000 shares | $ | — |  | $ | 10,000 |
4.70% Series - 50,000 shares | — |  | 5,000 |
Total preferred stocks | $ | — |  | $ | 15,000 |
For the years 2016 and 2015, dividends declared on the 4.50% Series and 4.70% Series preferred stocks were $4.50 and $4.70 per share, respectively. On April 1, 2017, the Company redeemed all outstanding 4.50% Series and 4.70% Series preferred stocks at $105 per share and $102 per share, respectively, for a repurchase price of approximately $15.6 million and $300,000 of redeemable preferred stock classified as long-term debt.

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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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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