Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Summary of Changes in Stockholders' Equity

A summary of the changes in stockholders’ equity for the nine months ended September 30, 2014 is as follows:

(In thousands)	Stockholders’ Equity
Balance, December 31, 2013	$	604,606
Net income		35,328
Dividend payments		(15,060	)
Dividends accrued for unvested restricted stock units		1
Net unrealized gains (losses) on available-for-sale securities (net of tax)		(2,850	)
Foreign currency translation adjustment		(2,182	)
Proceeds from stock option exercises		2,311
Purchase of treasury stock		(62,144	)
Income tax benefit from exercise of stock options		71
Stock-based compensation expense		6,296
Balance, September 30, 2014	$	566,377

Cash Dividends

During the nine months ended September 30, 2014, we paid cash dividends as follows (in thousands except per share amounts):

Record Date	Payment Date	Per Share Amount	Total Dividend Paid
February 6, 2014	February 20, 2014	$0.09	$5,102
May 1, 2014	May 15, 2014	$0.09	$5,035
July 31, 2014	August 14, 2014	$0.09	$4,923

Changes in Accumulated Other Comprehensive Income, Net of Tax by Component

The following tables present changes in accumulated other comprehensive income, net of tax, by component for the three months ended September 30, 2014 and 2013:

	Three Months Ended September 30, 2014
(In thousands)	Unrealized Gains (Losses) on Available- for-Sale Securities			Defined Benefit Plan Adjustments			Foreign Currency Adjustments			Total
Beginning balance	$	11,035		$	(891	)	$	1,293		$	11,437
Other comprehensive income (loss) before reclassifications		(1,602	)		—			(2,568	)		(4,170	)
Amounts reclassified from accumulated other comprehensive income		(1,546	)		—			—			(1,546	)
Net current period other comprehensive income(loss)		(3,148	)		—			(2,568	)		(5,716	)
Ending balance	$	7,887		$	(891	)	$	(1,275	)	$	5,721

	Three Months Ended September 30, 2013
(In thousands)	Unrealized Gains (Losses) on Available- for-Sale Securities			Defined Benefit Plan Adjustments			Foreign Currency Adjustments			Total
Beginning balance	$	6,766		$	(1,952	)	$	1,722		$	6,536
Other comprehensive income (loss) before reclassifications		3,522			—			(108	)		3,414
Amounts reclassified from accumulated other comprehensive income		(960	)		—			—			(960	)
Net current period other comprehensive income(loss)		2,562			—			(108	)		2,454
Ending balance	$	9,328		$	(1,952	)	$	1,614		$	8,990

The following tables present changes in accumulated other comprehensive income, net of tax, by component for the nine months ended September 30, 2014 and 2013:

	Nine Months Ended September 30, 2014
(In thousands)	Unrealized Gains (Losses) on Available- for-Sale Securities			Defined Benefit Plan Adjustments			Foreign Currency Adjustments			Total
Beginning balance	$	10,737		$	(891	)	$	907		$	10,753
Other comprehensive income (loss) before reclassifications		1,316			—			(2,182	)		(866	)
Amounts reclassified from accumulated other comprehensive income		(4,166	)		—			—			(4,166	)
Net current period other comprehensive income(loss)		(2,850	)		—			(2,182	)		(5,032	)
Ending balance	$	7,887		$	(891	)	$	(1,275	)	$	5,721
	Nine Months Ended September 30, 2013
(In thousands)	Unrealized Gains (Losses) on Available- for-Sale Securities			Defined Benefit Plan Adjustments			Foreign Currency Adjustments			Total
Beginning balance	$	10,108		$	(1,952	)	$	3,112		$	11,268
Other comprehensive income (loss) before reclassifications		3,174			—			(1,498	)		1,676
Amounts reclassified from accumulated other comprehensive income		(3,954	)		—			—			(3,954	)
Net current period other comprehensive income(loss)		(780	)		—			(1,498	)		(2,278	)
Ending balance	$	9,328		$	(1,952	)	$	1,614		$	8,990

Reclassifications Out of Accumulated Other Comprehensive Income

The following tables present the details of reclassifications out of accumulated other comprehensive income for the three months ended September 30, 2014 and 2013:

(In thousands)	Three Months Ended September 30, 2014
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities:
Net realized gain on sales of securities	$	2,565			Net realized investment gain
Impairment expense		(30	)		Net realized investment gain
Total reclassifications for the period, before tax		2,535
Tax (expense) benefit		(989	)
Total reclassifications for the period, net of tax	$	1,546

(In thousands)	Three Months Ended September 30, 2013
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities:
Net realized gain on sales of securities	$	1,583			Net realized investment gain
Impairment expense		(9	)		Net realized investment gain
Total reclassifications for the period, before tax		1,574
Tax (expense) benefit		(614	)
Total reclassifications for the period, net of tax	$	960

The following tables present the details of reclassifications out of accumulated other comprehensive income for the nine months ended September 30, 2014 and 2013:

(In thousands)	Nine Months Ended September 30, 2014
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities:
Net realized gain on sales of securities	$	6,895			Net realized investment gain
Impairment expense		(64	)		Net realized investment gain
Total reclassifications for the period, before tax		6,831
Tax (expense) benefit		(2,665	)
Total reclassifications for the period, net of tax	$	4,166

(In thousands)	Nine Months Ended September 30, 2013
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities:
Net realized gain on sales of securities	$	6,496			Net realized investment gain
Impairment expense		(13	)		Net realized investment gain
Total reclassifications for the period, before tax		6,483
Tax (expense) benefit		(2,529	)
Total reclassifications for the period, net of tax	$	3,954

Other Comprehensive Income

The following table presents the tax effects related to the change in each component of other comprehensive income for the three months ended September 30, 2014 and 2013:

	Three Months Ended September 30, 2014								Three Months Ended September 30, 2013
(In thousands)	Before-Tax Amount			Tax (Expense) Benefit		Net-of-Tax Amount			Before-Tax Amount			Tax Benefit			Net-of-Tax Amount
Unrealized gains (losses) on available-for-sale securities	$	(2,626	)	$	1,024	$	(1,602	)	$	5,774		$	(2,252	)	$	3,522
Reclassification adjustment for amounts included in net income		(2,535	)		989		(1,546	)		(1,574	)		614			(960	)
Foreign currency translation adjustment		(2,568	)		—		(2,568	)		(108	)		—			(108	)
Total Other Comprehensive Income (Loss)	$	(7,729	)	$	2,013	$	(5,716	)	$	4,092		$	(1,638	)	$	2,454

The following table presents the tax effects related to the change in each component of other comprehensive income for the nine months ended September 30, 2014 and 2013:

	Nine Months Ended September 30, 2014									Nine Months Ended September 30, 2013
(In thousands)	Before-Tax Amount			Tax (Expense) Benefit			Net-of-Tax Amount			Before-Tax Amount			Tax Benefit			Net-of-Tax Amount
Unrealized gains (losses) on available-for-sale securities	$	2,157		$	(841	)	$	1,316		$	5,203		$	(2,029	)	$	3,174
Reclassification adjustment for amounts included in net income		(6,831	)		2,665			(4,166	)		(6,483	)		2,529			(3,954	)
Foreign currency translation adjustment		(2,182	)		—			(2,182	)		(1,498	)		—			(1,498	)
Total Other Comprehensive Income (Loss)	$	(6,856	)	$	1,824		$	(5,032	)	$	(2,778	)	$	500		$	(2,278	)