Convertible Perpetual Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2013

Convertible Perpetual Preferred Stock [Abstract]

Summary of Activity, Convertible Perpetual Preferred Stock

The following is a summary of the activity related to our Convertible perpetual preferred stock from December 31, 2011 to December 31, 2013 (in millions, except share data):



	Number of Shares Outstanding		Amount
Balance as of December 31, 2011	400,000		$	387.4
Repurchase of preferred stock	(46,645	)	(45.2		)
Balance as of December 31, 2012	353,355		342.2
Repurchase of preferred stock	(257,110	)	(249.0		)
Balance as of December 31, 2013	96,245		$	93.2

Summary Allocation of Consideration Exchanged, Convertible Perpetual Preferred Stock

The allocation of the consideration exchanged for repurchases of preferred stock is as follows (in millions):



	For the Year Ended December 31,
	2013		2012
Carrying value of shares repurchased	$	249.0	$	45.2
Cumulative dividends included as part of repurchase price	2.2		0.5
Excess exchanged in transaction	71.6		0.8
	$	322.8	$	46.5

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

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