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Earnings Per Share | 3 Months Ended
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Mar. 31, 2014
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic and diluted earnings per share were calculated as follows, for each period presented:
| Quarter Ended
| March 31,
| 2014 |  | 2013
Numerator: |  |  |
Net income | $ | 15.8 |  |  | $ | 33.5 |
Denominator — Weighted-average common shares outstanding (in thousands): |  |  |
Basic 1 | 17,921 |  |  | 19,143 |
Add: dilutive effect of non-vested common shares, restricted stock units, performance shares and market-based shares | 122 |  |  | 131 |
Add: dilutive effect of warrants | 471 |  |  | 92 |
Diluted 2 | 18,514 |  |  | 19,366 |
Earnings per common share, Basic: |  |  |
Net income per share | $ | 0.88 |  |  | $ | 1.75 |
Earnings per common share, Diluted: |  |  |
Net income per share | $ | 0.85 |  |  | $ | 1.73 |
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1 | The basic weighted-average number of common shares outstanding during the period excludes non-vested common shares, restricted stock units, performance shares and market-based shares.
2 | The diluted weighted-average number of common shares outstanding during the periods were calculated using the treasury method.
Options to purchase 20,791 common shares at an average exercise price of $80.01 per share were outstanding at both March 31, 2014 and December 31, 2013. The potential dilutive effect of options outstanding was zero for both quarters ended March 31, 2014 and March 31, 2013. Warrants relating to approximately 3.6 million common shares were outstanding at both March 31, 2014 (at which date the average exercise price was approximately $60.98 per share) and March 31, 2013 (at which date the average exercise price was approximately $61.25 per share). During the quarters ended March 31, 2014 and March 31, 2013, the Company paid approximately $6.4 ($0.35 per common share) and $5.9 ($0.30 per common share), respectively, in cash dividends to stockholders, including the holders of non-vested common shares, and dividend equivalents to the holders of certain restricted stock units and to the holders of performance shares with respect to approximately one-half of the performance shares. From time to time, the Company repurchases shares pursuant to a stock repurchase program authorized by the Company’s Board of Directors. Repurchase transactions will occur at such times and prices as management deems appropriate and will be funded with the Company’s excess liquidity after giving consideration to internal and external growth opportunities and future cash flows. Repurchases may be in open-market transactions or in privately negotiated transactions, and the program may be modified or terminated by the Company’s Board of Directors at any time. During the quarters ended March 31, 2014 and March 31, 2013, the Company repurchased 184,400 shares of common stock (at a weighted-average price of $69.07 per share) and 259,596 shares of common stock (at a weighted-average price of $62.62 per share), respectively, pursuant to the stock repurchase program. The total cost of $12.7 and $16.2 was recorded as Treasury Stock at March 31, 2014 and March 31, 2013, respectively. At March 31, 2014 and December 31, 2013, $104.9 and $117.6, respectively, were available to repurchase the Company’s common shares pursuant to the stock repurchase program.

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- 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
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