Capital Stock

12 Months Ended

Dec. 31, 2014

Notes to Financial Statements [Abstract]

Capital stock

Note 18 – Capital Stock

Common Stock

At December 31, 2014, we had 100million shares of common stock authorized and 48.6million shares issued and outstanding.

Shares Contributed to U.S. Pension Plan

On March 6, 2012, we issued 361,446 shares of our common stock and contributed the shares to our primary U.S. pension plan. Sales of these shares by the plan were covered under our shelf registration statement. The common stock was valued for purposes of the contribution at $24.90per share, or $9million in the aggregate, which reflected a 2.4% discount from the $25.51per share closing share price of our common stock on March 5, 2012.

Dividends

We paid regular quarterly dividends on our common stock during the last three years. On January 22, 2015, the board declared a regular quarterly dividend of 10 cents per share payable on March 2, 2015. The payment of future dividends is at the discretion of the board of directors and is dependent on our future earnings, financial condition, shareholder equity levels, cash flow, business requirements and other factors.

Shelf Registration of Common Stock

At December 31, 2014, $141.5million was available under a shelf registrationstatement filed with the SEC in February 2012.The shelf registration expired on February 28, 2015.

Preferred Stock

At December 31, 2014, we had the authority to issue up to 2.0 million shares of preferred stock with a par value of $10 per share.

Shares Used to Calculate Earnings per Share

	Years Ended December 31,
(In millions)	2014	2013	2012
Weighted-average shares
Basic(a)	49.0	48.7	48.4
Effect of dilutive stock awards	-	0.3	0.2
Diluted(a)	49.0	49.0	48.6
Antidilutive stock awards excluded from denominator	1.7	1.3	2.4

(a) We have deferred compensation plans for directors and certain of our employees.  Amounts owed to participants are denominated in common stock units.  Each unit represents one share of common stock.  The number of shares used to calculate basic earnings per share includes the weighted-average units credited to employees and directors under the deferred compensation plans.  Additionally, nonvestedunits are also included in the computation of basic weighted average shares when the requisite service period has been completed.  Accordingly, basic and diluted shares include weighted-average units of 0.5 million in 2014, 0.6 million in 2013 and 0.9 million in 2012.