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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2012
Stockholders' Equity [Abstract] |
STOCKHOLDERS' EQUITY | NOTE 8 – STOCKHOLDERS’ EQUITY Cumulative Convertible Preferred Stock As of December 31, 2012 and 2011, the Company had shares outstanding of Series A and Series M Cumulative Convertible Preferred Stock (“Preferred Stock”). Each share of Series A and Series M Preferred Stock is convertible by the Company into shares of Common Stock. The following table provides certain information for each series of convertible preferred stock as of the periods presented (in thousands, except conversion factor):
|  | As of December 31, 2012 |  |  | As of December 31, 2011 |
|  | Series A |  |  | Series M |  |  | Total |  |  | Series A |  |  | Series M |  |  | Total |
Shares issued and outstanding |  |  | 20 |  |  |  | 88 |  |  |  | 108 |  |  |  | 20 |  |  |  | 88 |  |  |  | 108 |
Conversion factor |  |  | 2.50 |  |  |  | 5.00 |  |  |  | NM |  |  |  | 2.50 |  |  |  | 5.00 |  |  |  | NM |
Common shares resulting if converted |  |  | 50 |  |  |  | 438 |  |  |  | 488 |  |  |  | 50 |  |  |  | 438 |  |  |  | 488 |
NM - Not meaningful. The Series A Preferred Stock pays a cumulative dividend of $0.25 per share per quarter. During 2012, 2011 and 2010, respectively, the Company declared and paid aggregate dividends of $20 thousand to holders of record of the Company’s Series A Preferred Stock. During the year ended December 31, 2010, shareholders converted 950 shares of Series M Preferred Stock into shares of Common Stock. The Company erroneously used the wrong conversion factor of 1.25 resulting in an issuance of 1,188 shares during the year ended December 31, 2010. This error was discovered during the year ended December 31, 2011 resulting in an additional issuance of 3,562 shares resulting from the conversion using a factor of 5.00. There were no conversions during the years ended December 31, 2012 and 2011. During 2012, the Company declared and paid aggregate dividends of $267 thousand to holders of record of the Company’s Series M Preferred Stock. Common Stock The following table summarizes the activity relating to shares of the Company’s Common Stock during the periods presented (in thousands):
|  | Issued Shares |  |  | Treasury Shares |  |  | Shares Held in Trust |  |  | Outstanding Shares |
Balance, as of December 31, 2009 |  |  | 40,215 |  |  |  | (1,809 | ) |  |  | (631 | ) |  |  | 37,775 |
Preferred stock conversion |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |
Options exercised |  |  | 1,995 |  |  |  | (1,314 | ) |  |  | 631 |  |  |  | 1,312 |
Shares cancelled |  |  | (2,104 | ) |  |  | 2,104 |  |  |  | — |  |  |  | — |
Restricted stock grant |  |  | 300 |  |  |  | — |  |  |  | — |  |  |  | 300 |
Balance, as of December 31, 2010 |  |  | 40,407 |  |  |  | (1,019 | ) |  |  | — |  |  |  | 39,388 |
Options exercised |  |  | 160 |  |  |  | (70 | ) |  |  | — |  |  |  | 90 |
Shares cancelled |  |  | (70 | ) |  |  | 70 |  |  |  | — |  |  |  | — |
Restricted stock grant |  |  | 600 |  |  |  | — |  |  |  | — |  |  |  | 600 |
Other adjustments |  |  | 3 |  |  |  | 1 |  |  |  | — |  |  |  | 4 |
Balance, as of December 31, 2011 |  |  | 41,100 |  |  |  | (1,018 | ) |  |  | — |  |  |  | 40,082 |
Options exercised |  |  | 285 |  |  |  | (146 | ) |  |  | — |  |  |  | 139 |
Shares cancelled |  |  | (146 | ) |  |  | 146 |  |  |  | — |  |  |  | — |
Restricted stock grant |  |  | 650 |  |  |  | — |  |  |  | — |  |  |  | 650 |
Balance, as of December 31, 2012 |  |  | 41,889 |  |  |  | (1,018 | ) |  |  | — |  |  |  | 40,871 |
Dividends Declared The Company declared dividends on its outstanding shares of common stock to its shareholders of record as follows for the periods presented (in thousands, except per share amounts):
|  | For the year ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Per Share Amount |  |  | Aggregate Amount |  |  | Per Share Amount |  |  | Aggregate Amount |  |  | Per Share Amount |  |  | Aggregate Amount |
First Quarter |  | $ | 0.10 |  |  | $ | 4,012 |  |  | $ | 0.10 |  |  | $ | 3,939 |  |  | $ | 0.12 |  |  | $ | 4,700 |
Second Quarter |  | $ | 0.08 |  |  | $ | 3,214 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.10 |  |  | $ | 3,917 |
Third Quarter |  | $ | 0.08 |  |  | $ | 3,270 |  |  | $ | 0.08 |  |  | $ | 3,199 |  |  | $ | — |  |  | $ | — |
Fourth Quarter |  | $ | 0.20 |  |  | $ | 8,174 |  |  | $ | 0.14 |  |  | $ | 5,611 |  |  | $ | 0.10 |  |  | $ | 3,917 |
Applicable provisions of the Delaware General Corporation Law may affect the ability of the Company to declare and pay dividends on its Common Stock. In particular, pursuant to the Delaware General Corporation Law, a company may pay dividends out of its surplus, as defined, or out of its net profits, for the fiscal year in which the dividend is declared and/or the preceding year. Surplus is defined in the Delaware General Corporation Law to be the excess of net assets of the company over capital. Capital is defined to be the aggregate par value of shares issued. Moreover, the ability of the Company to pay dividends, if and when declared by its Board of Directors, may be restricted by regulatory limits on the amount of dividends, which the Insurance Entities are permitted to pay the Company. Restrictions limiting the payment of dividends by UIH UIH pays dividends to shareholders, which are funded by premiums earned on reinsurance contracts entered into with the Insurance Entities, earnings on investments and distributions from the earnings of its consolidated subsidiaries. Generally there are no restrictions for UIH limiting the payment of dividends. However, UIH’s ability to pay dividends to shareholders may be affected by restrictions on the ability of the Insurance Entities to pay dividends to UIH. See Note 5, INSURANCE OPERATIONS, for a discussion of these restrictions. As of December 31, 2012, 100 percent of the Insurance Entities’ net assets were restricted. There are no such restrictions for UIH’s non-insurance consolidated subsidiaries. Notwithstanding the restriction on the net assets of the Insurance Entities, UIH received distributions from the earnings of its non-insurance consolidated subsidiaries of $40.2 million, $89.3 million and $30.5 million and made capital contributions to the Insurance Entities of $28.6 million, $49.0 million and $30.0 million, during the years ended December 31, 2012, 2011 and 2010, respectively. The Company prepares and files a consolidated federal tax return for UIH and its consolidated subsidiaries with all U.S. GAAP tax related entries recorded on the books of UIH. Since the U.S. GAAP tax related entries are not recorded at the subsidiary level, the Company does not have the ability to produce the amount of net assets for each of its subsidiaries in accordance with U.S. GAAP.

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- 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. 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