Schedule of Pro Forma Effect of Stock Split on Shareholder's Equity |
Below are the effects of the stock split on the Company’s Stockholders’ equity: | | | | | | | | | | | | | December 31, 2014 | | Adjustment | | December 31, 2014 | (in thousands) | (pre-split) | | | (post-split) | STOCKHOLDERS’ EQUITY | |
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| Preferred stock, without par value; 500,000 authorized, zero shares issued |
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| Common stock, par value $1 per share; 250,000,000 shares authorized, 218,482,907 shares issued(1) | 145,722 |
| | 72,761 |
| | 218,483 |
| Treasury Stock, par value $1 per share; 200,000 shares | (200 | ) | |
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| | (200 | ) | Paid-in-capital | 62,839 |
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| | 62,839 |
| Accumulated other comprehensive loss | (65,488 | ) | |
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| | (65,488 | ) | Retained earnings | 319,803 |
| | (72,761 | ) | | 247,042 |
| Total stockholders’ equity | $ | 462,676 |
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| | $ | 462,676 |
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(1) Shares issued increased as follows: 2014 - 72,760,969; 2013 - 72,932,222
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Schedule of Pro Forma Effect of Stock Split on Earning Per Share |
Below are the effects of the stock split on the Company’s earnings per share: | | | | | | | | | | | | | | December 31, 2014 | | | | December 31, 2014 | (in thousands, except per share amounts) | (pre-split) | | Adjustment | | (post-split) | Net income | $ | 137,664 |
| | $ | — |
| | $ | 137,664 |
| Basic earnings per share | $ | 0.94 |
| | $ | (0.31 | ) | | $ | 0.63 |
| Diluted earnings per share | $ | 0.94 |
| | $ | (0.31 | ) | | $ | 0.63 |
| Shares used for computation: | |
| | |
| | |
| Basic | 145,796 |
| | 72,899 |
| | 218,695 |
| Diluted | 145,796 |
| | 72,899 |
| | 218,695 |
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