XML 37 R10.htm IDEA: XBRL DOCUMENT
v3.19.3

Equity | 9 Months Ended
--- | ---
Sep. 30, 2019
Equity [Abstract] |
Equity | Equity On October 31, 2019, the Company entered into an equity distribution agreement with Morgan Stanley & Co., LLC, Robert W. Baird & Co. Incorporated, Blaylock Van, LLC and Wells Fargo Securities, LLC to sell shares of its common stock having an aggregate gross sales price of up to $300.0 million from time to time depending on market conditions through an at-the-market equity program over the next three years. The Company intends to use the net proceeds from these sales, after deducting commissions on such sales and offering expenses, for general corporate purposes, which may include working capital, construction and acquisition expenditures, investments and repurchases, and redemptions of securities. The Company’s changes in total common stockholders’ equity for the nine months ended September 30, 2019 and 2018 were as follows:
| Nine months ended September 30, 2019
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Total Stockholders' Equity
| Shares |  | Amount |  |  |
| (In thousands)
Balance at January 1, 2019 | 48,065 |  |  | $ | 481 |  |  | $ | 337,623 |  |  | $ | 392,053 |  |  | $ | 730,157 |
Net loss |  |  |  |  |  |  | (7,640 | ) |  | (7,640 | )
Issuance of common stock | 109 |  |  | — |  |  | 3,179 |  |  | — |  |  | 3,179 |
Repurchase of common stock | (40 | ) |  | — |  |  | (2,074 | ) |  | — |  |  | (2,074 | )
Dividends paid on common stock ($0.1975 per share) |  |  |  |  |  |  | (9,493 | ) |  | (9,493 | )
Balance at March 31, 2019 | 48,134 |  |  | 481 |  |  | 338,728 |  |  | 374,920 |  |  | 714,129 |
Net income |  |  |  |  |  |  | 16,996 |  |  | 16,996 |
Issuance of common stock | 8 |  |  | — |  |  | 1,675 |  |  | — |  |  | 1,675 |
Repurchase of common stock | (2 | ) |  | — |  |  | (129 | ) |  | — |  |  | (129 | )
Dividends paid on common stock ($0.1975 per share) |  |  |  |  |  |  | (9,507 | ) |  | (9,507 | )
Balance at June 30, 2019 | 48,140 |  |  | 481 |  |  | 340,274 |  |  | 382,409 |  |  | 723,164 |
Net income |  |  |  |  |  |  | 42,424 |  |  | 42,424 |
Issuance of common stock | 9 |  |  | — |  |  | 1,866 |  |  | — |  |  | 1,866 |
Repurchase of common stock | (4 | ) |  | — |  |  | (152 | ) |  | — |  |  | (152 | )
Dividends paid on common stock ($0.1975 per share) |  |  |  |  |  |  | (9,507 | ) |  | (9,507 | )
Balance at September 30, 2019 | 48,145 |  |  | 481 |  |  | 341,988 |  |  | 415,326 |  |  | 757,795 |
| Nine months ended September 30, 2018
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Total Stockholders' Equity
| Shares |  | Amount |  |  |
| (In thousands)
Balance at January 1, 2018 | 48,012 |  |  | $ | 480 |  |  | $ | 336,229 |  |  | $ | 362,512 |  |  | $ | 699,221 |
Net loss |  |  |  |  |  |  | (762 | ) |  | (762 | )
Issuance of common stock | 95 |  |  | 1 |  |  | 635 |  |  | — |  |  | 636 |
Repurchase of common stock | (33 | ) |  | — |  |  | (1,239 | ) |  | — |  |  | (1,239 | )
Dividends paid on common stock ($0.1875 per share) |  |  |  |  |  |  | (9,003 | ) |  | (9,003 | )
Balance at March 31, 2018 | 48,074 |  |  | 481 |  |  | 335,625 |  |  | 352,747 |  |  | 688,853 |
Net income |  |  |  |  |  |  | 14,805 |  |  | 14,805 |
Issuance of common stock | — |  |  | — |  |  | 737 |  |  | — |  |  | 737 |
Repurchase of common stock | (4 | ) |  | — |  |  | (124 | ) |  | — |  |  | (124 | )
Dividends paid on common stock ($0.1875 per share) |  |  |  |  |  |  | (9,014 | ) |  | (9,014 | )
Balance at June 30, 2018 | 48,070 |  |  | 481 |  |  | 336,238 |  |  | 358,538 |  |  | 695,257 |
Net income |  |  |  |  |  |  | 36,173 |  |  | 36,173 |
Issuance of common stock | 1 |  |  | — |  |  | 853 |  |  | — |  |  | 853 |
Repurchase of common stock | (3 | ) |  | — |  |  | (131 | ) |  | — |  |  | (131 | )
Dividends paid on common stock ($0.1875 per share) |  |  |  |  |  |  | (9,012 | ) |  | (9,012 | )
Balance at September 30, 2018 | 48,068 |  |  | 481 |  |  | 336,960 |  |  | 385,699 |  |  | 723,140 |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration