Capital Stock

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Capital Stock

(9) CAPITAL STOCK

We have authorized capital stock of 485.0 million shares, which includes 475.0 million shares of common stock and 10.0 million shares of preferred stock. The following is a schedule of changes in the number of common shares outstanding since the beginning of 2012:

	Year Ended December 31,
	2014		2013		2012
Beginning balance		163,342,894		162,514,098		161,131,547
Equity offering		4,560,000		−		−
Stock options/SARs exercised		195,242		278,916		926,425
Restricted stock grants		270,062		401,122		354,674
Restricted stock units vested		244,413		119,480		57,824
Treasury shares		15,566		29,278		43,628
Ending balance		168,628,177		163,342,894		162,514,098

Common Stock Dividends

The Board of Directors declared quarterly dividends of $0.04 per common share for each of the four quarters of 2014, 2013 and 2012. The determination of the amount of future dividends, if any, to be declared and paid is at the sole discretion of the Board of Directors and will depend on our financial condition, earnings and cash flow from operations, level of capital expenditures, our future business prospects and other matters our Board of Directors deem relevant. Our bank credit facility and our senior subordinated notes allow for the payment of common dividends, with certain limitations. Dividends are limited to our legally available funds.