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Subsequent Events
6 Months Ended
Jun. 30, 2012
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

On July 7, 2012, Federated reached a tentative settlement with one of its insurance carriers for $17.3 million of claims submitted over the past several years related to various legal proceedings. Insurance proceeds totaling $10.0 million of the $17.3 million were received in a prior period and are included in Other current liabilities as of June 30, 2012. In the period in which the settlement is finalized, Federated will recognize $17.3 million in the Consolidated Statement of Income as reductions to the operating expense line items originally charged as a result of the costs incurred, including primarily Professional service fees.

On July 26, 2012, the board of directors declared a $0.24 per share dividend to shareholders of record as of August 8, 2012 to be paid on August 15, 2012.