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Capital Stock
6 Months Ended
Jun. 30, 2018
Capital Stock [Abstract]  
Capital Stock

(13)    Capital Stock:



On June 10, 2015, prior to the reverse stock split, we completed a registered offering of 17,500,000 shares of our 11.125% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share (the “Series A Preferred Stock”), at an offering price of $100 per share. On June 24, 2015, Frontier issued an additional 1,750,000 shares of Series A Preferred Stock in connection with the over-allotment option that was exercised in full by the underwriters.



On June 29, 2018, pursuant to the provisions of Frontier’s Certificate of Designation governing the Series A Preferred Stock, all outstanding shares of the Series A Preferred Stock converted at a rate of 1.3333 common shares per share of preferred stock into an aggregate of approximately 25,529,000 shares (net of fractional shares) of the Company’s common stock. Frontier issued cash in lieu of fractional shares of common stock. These payments were recorded as a reduction to Additional paid-in capital.



At June 30, 2018, $54 million of dividends payable were included in “Other current liabilities” in our consolidated balance sheet representing the final dividend payable to holders of the Series A Preferred Stock. The final dividend was paid on July 2, 2018.