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Subsequent Event | 12 Months Ended
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Dec. 31, 2013
Subsequent Event |
Subsequent Event | 17. Subsequent Event Dividends On February 10, 2014, our Board of Directors approved a quarterly cash dividend of $0.14 per share to be paid on March 11, 2014 to the stockholders of record on February 26, 2014. Accelerated Stock Repurchase Program On February 27, 2014, we entered into an agreement with a financial institution to repurchase $75 million of our common stock under a collared accelerated stock repurchase (“ASR”) program. The number of common shares to be repurchased under the ASR program generally will be based on the volume weighted average share price of our common stock. The program is subject to collar provisions that will establish minimum and maximum number of shares based on the volume weighted average share price over an initial hedge period. Under the terms of the program, the financial institution will deliver an initial number of shares of common stock to us on March 7, 2014 and will deliver the remaining balance of the minimum number of shares upon the completion of the hedge period by the end of March 2014. At the termination of the ASR program, we may receive additional common shares, depending on the share price of our common stock during the term of the program. The minimum and maximum number of common shares that we will repurchase pursuant to the program will not be known until the conclusion of the hedge period. The program will terminate no later than six months following the end of the hedge period and may in certain circumstances be accelerated. This ASR was entered into as part of, and pursuant to, our previously announced share repurchase program. We intend to fund the share repurchases with cash on hand and/or temporary borrowing on our credit facility.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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