EQUITY

6 Months Ended

Jun. 30, 2014

EQUITY [Abstract]

EQUITY

Note 12: Equity

Our capital stock consists solely of common stock, par value $1.00 per share. Holders of our common stock are entitled to one vote per share. Our Certificate of Incorporation also authorizes preferred stock of which no shares have been issued. The terms and provisions of such shares will be determined by our Board of Directors upon any issuance of preferred shares in accordance with our Certificate of Incorporation.

In June 2014, we issued 16,896 shares of common stock in connection with the purchase of a permitted quarry.

We occasionally sell shares of common stock to the trustee of our 401(k) retirement plans to satisfy the plan participants’ elections to invest in our common stock. The resulting cash proceeds provide a means of improving cash flow, increasing equity and reducing leverage. Under this arrangement, the stock issuances and resulting cash proceeds were as follows:

§ six months ended June 30, 2014—  issued 435,655shares for cash proceeds of $27,539,000

§ twelve months ended December 31, 2013—  issued 71,208 shares for cash proceeds of $3,821,000

§ six months ended June 30, 2013—  no shares issued

Changes in total equity for the six months ended June  30, 2014 are summarized below:

	Total
in thousands	Equity
Balance at December 31, 2013	$    3,938,106
Net earnings	99,963
Common stock issued
Acquisition	1,094
401(k) Trustee	27,539
Share-based compensation plans	10,985
Share-based compensation expense	11,928
Excess tax benefits from share-based compensation	3,242
Cash dividends on common stock ($0.10 per share)	(13,074)
Other comprehensive income	6,404
Balance at June 30, 2014	$    4,086,187

There were no shares held in treasury as of June 30, 2014, December 31, 2013 and June 30, 2013. As of June 30, 2014,  3,411,416 shares may be repurchased under the current purchase authorization of our Board of Directors.