Shareholders' Equity

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

The following tables summarizes the components of our shareholders' equity and the changes therein as of and for the nine months ended September 30, 2013 and 2012:

	As of												As of
	December 31,						Dividends			All Other			September 30,
	2012			Net Loss			Declared 1			Changes			2013
Preferred stock	$	1,150		$	—		$	—		$	—		$	1,150
Common stock 2	364			—			—			101			465
Paid-in capital 2	849,046			—			—			46,404			895,450
Retained earnings	45,790			(140,721		)	(5,175		)	—			(100,106		)
Deferred compensation obligation	3,111			—			—			(384		)	2,727
Accumulated other comprehensive loss 3	(982		)	—			—			56			(926		)
Treasury stock	(3,363		)	—			—			386			(2,977		)
	$	895,116		$	(140,721	)	$	(5,175	)	$	46,563		$	795,783
	As of												As of
	December 31,						Dividends			All Other			September 30,
	2011			Net Loss			Declared 4			Changes			2012
Common stock	$	270		$	—		$	—		$	1		$	271
Paid-in capital	690,131			—			—			4,228			694,359
Retained earnings	157,242			(50,148		)	(5,176		)	—			101,918
Deferred compensation obligation	3,620			—			—			(548		)	3,072
Accumulated other comprehensive loss 3	(1,084		)	—			—			69			(1,015		)
Treasury stock	(3,870		)	—			—			547			(3,323		)
	$	846,309		$	(50,148	)	$	(5,176	)	$	4,297		$	795,282

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¹ Includes dividends of $450.00 per share of 6% Convertible Perpetual Preferred Stock (the “6% Preferred Stock”).

² Includes the Shares, with a fair value of $4.23 per share, that were issued to MHR in connection with the Acquisition.

³ The Accumulated other comprehensive loss (“AOCL”) is entirely attributable to our defined benefit pension and postretirement health care plans. The changes in the balance of AOCL for the nine months ended September 30, 2013 and 2012 represent reclassifications from AOCL to net periodic benefit expense, a component of General and administrative expenses, of $86 and $106 and are presented above net of taxes of $30 and $37.

⁴ Includes dividends of $0.1125 per share of common stock.

As discussed in Note 3, we issued the Shares to MHR in April 2013 as part of the consideration paid in connection with the Acquisition. In connection with the Shares issued to MHR, we entered into a Registration Rights, Lock-Up and Buy-Back Agreement and a Standstill Agreement (collectively, the “Share Agreements”) which provided for certain rights and obligations. In September 2013, MHR sold the Shares to institutional investors in a series of private transactions. Accordingly, the Share Agreements no longer have effect.