SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

SHAREHOLDERS' EQUITY

6. SHAREHOLDERS’ EQUITY

A summary of the changes in shareholders’ equity for the six months ended June 30, 2014 is as follows (in thousands, except share amounts):

							DIVIDENDS
							PAID
	COMMON STOCK				PAID-IN		IN EXCESS
	SHARES		AMOUNT		CAPITAL		OF EARNINGS			TOTAL
Balance, December 31, 2013		33,397,260	$	334	$	462,397	$	(47,640	)	$	415,091
Net earnings		—		—		—		16,275			16,275
Dividends		—		—		—		(13,502	)		(13,502	)
Stock-based employee compensation expense		19,613		—		405		—			405
Balance, June 30, 2014		33,416,873	$	334	$	462,802	$	(44,867	)	$	418,269

On March 3, 2014 and May 13, 2014, respectively, our Board of Directors granted 67,125 and 5,000 restricted stock units to our employees under our 2004 Omnibus Incentive Compensation Plan.

We are authorized to issue 20,000,000 shares of preferred stock, par value $.01 per share, of which none were issued as of June 30, 2014 or December 31, 2013.