XML 36 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
The Company and Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2014
Fair Value of Each Stock Option Granted Weighted-Average Assumptions

The fair value of each stock option granted was estimated using the following weighted-average assumptions:

 

 

Nine-Month Period
Ended September 30,
2014

 

Fair value of options granted

$

3.26

 

Expected volatility

 

117

%

Risk-free interest rate

 

2.0

%

Expected lives

 

6.1 years

 

Dividend rate

 

2.3

%

 

Summary of Nonvested Restricted Stock Units Granted

The following is a summary of non-vested restricted stock units granted (in thousands, except grant date fair value data):

 

 

Nine-Month Period

 

 

Ended September 30, 2014

 

 

Number
Granted

 

 

Weighted-Average
Fair
Value

 

Restricted stock units

 

1,181

 

 

$

4.51

 

 

Reconciliation of Basic and Diluted Income (Loss) Per Share

The following table illustrates the reconciliation of the basic and diluted income (loss) per share computations required by ASC 260-10, “Earnings Per Share” (in thousands, except share and per share data):

 

 

Three-Month Period

 

 

Nine-Month Period

 

 

Ended September 30,

 

 

Ended September 30,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

8,057

 

 

$

(21,384

)

 

$

21,180

 

 

$

(17,268

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

89,179,192

 

 

 

87,959,856

 

 

 

89,048,459

 

 

 

87,170,106

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share

$

0.09

 

 

$

(0.24

)

 

$

0.24

 

 

$

(0.20

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

8,057

 

 

$

(21,384

)

 

$

21,180

 

 

$

(17,268

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

89,179,192

 

 

 

87,959,856

 

 

 

89,048,459

 

 

 

87,170,106

 

Dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock units

 

2,060,606

 

 

 

-

 

 

 

2,082,154

 

 

 

-

 

Diluted shares outstanding

 

91,239,798

 

 

 

87,959,856

 

 

 

91,130,613

 

 

 

87,170,106

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share

$

0.09

 

 

$

(0.24

)

 

$

0.23

 

 

$

(0.20

)

 

 

Margin for Revolving Loans

(ii) thereafter, the Applicable Margin for the Revolving Loans shall equal the applicable LIBOR margin or Base Rate margin in effect from time to time determined as set forth below based upon the applicable First Lien Net Leverage Ratio then in effect pursuant to the appropriate column under the table below:

 

First Lien Net Leverage Ratio

  

LIBOR Margin

 

 

Base Rate Margin

 

³ 4.50 to 1.00

  

 

2.50

%

 

 

1.50

%

< 4.50 to 1.00

  

 

2.25

%

 

 

1.25

%

 

Fair Value of Assets and Liabilities on a Recurring Basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets (in millions):

 

 

 

September 30, 2014

 

 

 

Total Fair Value

and Carrying

Value on Balance

Sheet

 

Fair Value Measurement Category

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Liabilities:

 

 

 

 

 

 

 

 

Interest rate swap

 

$

1.7

 

 

$

 

 

$

1.7

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

 

Total Fair Value

and Carrying

Value on Balance

Sheet

 

Fair Value Measurement Category

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

Interest rate swap

 

$

0.4

 

 

$

 

 

$

0.4

 

 

$

 

 

Summary of Components of AOCI

Accumulated other comprehensive income (loss) includes the cumulative gains and losses of derivative instruments that qualify as cash flow hedges. The following table provides a rollforward of accumulated other comprehensive income (loss) for the nine-month periods ended September 30, 2014 and 2013 (in millions):

 

 

2014

 

 

2013

 

Accumulated other comprehensive income (loss) as of January 1,

$

0.2

 

 

$

 

Other comprehensive income (loss)

 

(2.1

)

 

 

 

Income tax benefit (expense)

 

0.8

 

 

 

 

Other comprehensive income (loss), net of tax

 

(1.3

)

 

 

 

Accumulated other comprehensive income (loss) as of September 30,

$

(1.1

)

 

$