XML 73 R19.htm IDEA: XBRL DOCUMENT
v2.4.0.6

STOCKHOLDERS' EQUITY | 12 Months Ended
--- | ---
Dec. 31, 2012
STOCKHOLDERS' EQUITY |
STOCKHOLDERS' EQUITY | NOTE K – STOCKHOLDERS’ EQUITY Total Comprehensive Loss
| Year Ended December 31
|  | 2012 |  | 2011 |  | 2010 |
| (in thousands) |
Net income (loss) |  | $ | (7,732 | ) | $ | 6,333 |  | $ | (32,421 | )
Less: Noncontrolling interest in net income of subsidiary |  | – |  | (174 | ) | (272 | )
Net income (loss) attributable to Arkansas Best Corporation |  | (7,732 | ) | 6,159 |  | (32,693 | )
Other comprehensive income (loss): |  |  |  |  |  |  |
Change in foreign currency translation, net of tax of (2012 – $10; 2011 – $69; 2010 – $49) |  | 19 |  | (108 | ) | 76 |
Unrecognized net actuarial gain (loss), net of tax of (2012 – $3,709; 2011 – $10,804; 2010 – $1,951) |  | (5,830 | ) | (27,178 | ) | 3,064 |
Amortization of unrecognized net periodic benefit costs, net of tax of (2012 – $4,354; 2011 – $2,789; 2010 – $3,119): |  |  |  |  |  |  |
Net actuarial loss |  | 6,957 |  | 4,497 |  | 4,819 |
Prior service credit |  | (116 | ) | (115 | ) | (4 | )
Net transition obligation |  | – |  | – |  | 82 |
Pension settlement expense, net of tax of (2012 – $0; 2011 – $438; 2010 – $69) |  | – |  | 687 |  | 109 |
Other, net of tax of (2012 – $0; 2011 – $70; 2010 – $7) |  | – |  | (132 | ) | 13 |
Other comprehensive income (loss) |  | 1,030 |  | (22,349 | ) | 8,159 |
Comprehensive loss attributable to Arkansas Best Corporation |  | $ | (6,702 | ) | $ | (16,190 | ) | $ | (24,534 | )
Accumulated Other Comprehensive Loss Components of accumulated other comprehensive loss were as follows at December 31:
|  | 2012 |  | 2011 |  | 2010 |
|  | (in thousands) |
Pre-tax amounts: |  |  |  |  |  |  |
Foreign currency translation |  | $ | (662 | ) | $ | (691 | ) | $ | (514 | )
Unrecognized net periodic benefit costs(1) |  | (86,737 | ) | (88,393 | ) | (58,707 | )
Other |  | – |  | – |  | 202 |
Total |  | $ | (87,399 | ) | $ | (89,084 | ) | $ | (59,019 | )
After-tax amounts: |  |  |  |  |  |  |
Foreign currency translation |  | $ | (404 | ) | $ | (423 | ) | $ | (315 | )
Unrecognized net periodic benefit costs(1) |  | (56,968 | ) | (57,979 | ) | (35,870 | )
Other |  | – |  | – |  | 132 |
Total |  | $ | (57,372 | ) | $ | (58,402 | ) | $ | (36,053 | )
(1) The increase in unrecognized net periodic benefit costs for the year ended December 31, 2011 reflected the impact of a $34.4 million ($25.0 million after tax) increase in the unrecognized net actuarial loss related to the nonunion defined benefit pension plan in 2011. The increase in the unrecognized net actuarial loss was primarily attributable to the decrease in the discount rate used to remeasure the plan obligation at December 31, 2011 and the amount required to adjust the assumed return on plan assets to the actual loss experienced in 2011. The nonunion defined benefit pension plan is discussed further in Note J. Dividends on Common Stock The following table is a summary of dividends declared during the applicable quarter:
|  | 2012 |  | 2011 |  | 2010 |
|  | Per Share |  | Amount |  | Per Share |  | Amount |  | Per Share |  | Amount |
|  | (in thousands, except per share data) |
First quarter |  | $ | 0.03 |  | $ | 797 |  | $ | 0.03 |  | $ | 788 |  | $ | 0.03 |  | $ | 777 |
Second quarter |  | $ | 0.03 |  | $ | 808 |  | $ | 0.03 |  | $ | 797 |  | $ | 0.03 |  | $ | 777 |
Third quarter |  | $ | 0.03 |  | $ | 807 |  | $ | 0.03 |  | $ | 798 |  | $ | 0.03 |  | $ | 786 |
Fourth quarter |  | $ | 0.03 |  | $ | 807 |  | $ | 0.03 |  | $ | 797 |  | $ | 0.03 |  | $ | 786 |
Stockholders’ Rights Plan Prior to April 30, 2011, the Company had in place a stockholders’ rights plan; however, the plan expired by its terms on April 30, 2011 and was not renewed. Treasury Stock The Company has a program to repurchase its Common Stock in the open market or in privately negotiated transactions. In 2003, the Company’s Board of Directors authorized stock repurchases of up to $25.0 million; and in 2005, an additional $50.0 million was authorized for a total of $75.0 million. As of December 31, 2012, the Company had purchased 1,618,150 shares for an aggregate cost of $56.8 million, leaving $18.2 million available for repurchase under the current buyback program. The program has no expiration date but may be terminated at any time at the Board of Directors’ discretion. Repurchases may be made using the Company’s cash reserves or other available sources. No shares were repurchased by the Company in 2012, 2011, or 2010.

X
- Details
Name: | us-gaap_StockholdersEquityNoteAbstract
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, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770 Reference 20: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 21: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 22: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 23: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration