XML 67 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stockholders' Equity
 12 Months Ended
Dec. 31, 2012
Stockholders' Equity [Abstract]  
Stockholders' Equity
(8) Stockholders’ Equity

The Company has two classes of common stock: Class A common stock and Class B common stock. In the election of directors, the holders of Class A common stock are entitled by class vote, exclusive of other stockholders, to elect two of the Company’s directors, with each Class A share being entitled to one vote. In the election of the other six directors and all other matters submitted to the stockholders for a vote, the holders of Class A shares and Class B shares shall vote as a single class, with each Class A share being entitled to one vote and each Class B share entitled to ten votes.

The Company’s credit agreements permit it to pay cash dividends and to repurchase additional shares of its common stock, subject to compliance with financial covenants, up to an aggregate amount of $2.0 million for the period from August 9, 2012 to December 31, 2012, $4.0 million for 2013, $5.0 million for each of 2014 and 2015, and $6.0 million for each year thereafter. The Company paid no cash dividends in 2011 and $1.9 million for a special cash dividend in 2012. The Company paid $0.2 million to repurchase 33,983 shares of its Class A common stock in 2011 and $0.1 million to repurchase 32,587 shares of its Class A common stock in 2012.