Common Stockholders' Equity

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Common Stockholders' Equity

Common Stockholders’ Equity

The weighted average number of shares used in the computation of net income per share was as follows:

	2013	2012	2011
Basic	135,304,752	137,097,162	139,687,546
Diluted	140,742,922	143,314,544	145,672,211

Treasury shares have been excluded from average outstanding shares from the date of acquisition. The difference in calculating basic and diluted net income per share is attributable entirely to the dilutive effect of stock-based compensation plans.

Changes in shares of common stock outstanding, net of treasury shares, are presented below. Shares of common stock issued and outstanding do not include shares related to unissued restricted stock units and unexercised stock options.

	2013		2012	2011
Balance, beginning of year	136,017,732		137,520,019	141,009,834
Shares issued	139,790		2,114,168	2,702,303
Shares repurchased	(3,924,355	)	(3,616,455)	(6,192.118)
Balance, end of year	132,233,167		136,017,732	137,520,019

The amount of dividends paid is dependent upon factors such as the receipt of dividends from our subsidiaries, our results of operations, cash flow, financial condition and business needs, the capital and surplus requirements of our subsidiaries, and applicable insurance regulations that limit the amount of dividends that may be paid by our regulated insurance subsidiaries.