Special Cash Dividend And Stock Option Adjustments

6 Months Ended

Jun. 30, 2013

Special Cash Dividend And Stock Option Adjustments [Abstract]

Special Cash Dividend And Stock Option Adjustments

NOTE 18.  SPECIAL CASH DIVIDEND

On March 23, 2012, our Board of Directors declared a special cash dividend in the amount of $8.55 per share, or $508 million in the aggregate, of which $502.9 million was paid on April 10, 2012 to the shareholders of record as of April 3, 2012.  Payment of an additional $1.5 million was made during the remainder of 2012.  The unpaid portion of the dividend at June 30, 2013 relates to unvested employee shares and units and is reflected in current liabilities ($1.9million) and other long term liabilities ($1.5million) and will be paid when the underlying employee shares and units vest.  The dividend was funded in part by existing cash and in part by the proceeds of additional debt issued under our Term Loan B.  The dividend was recorded as a reduction of retained earnings to the extent that retained earnings were available at the dividend declaration date.  Dividends in excess of retained earnings were recorded as a reduction of capital in excess of par value.