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Stockholders' Equity
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Stockholders' Equity

11. Stockholders’ Equity

On June 12, 2013, the Company announced that on August 9, 2013 (redemption date), it would redeem any remaining outstanding shares of its 5 1/2 percent Convertible Preferred Stock without par value (preferred stock). At the time of the redemption announcement, there were 61,735 shares of preferred stock outstanding. Prior to the redemption date, preferred shareholders converted 60,900 shares of preferred stock into 139,029 shares of Company common stock. In accordance with the Certificate of Designation, Preferences and Rights of the 5 1/2% Convertible Preferred Stock, the Company redeemed 835 unconverted shares of Company preferred stock for an aggregate redemption price of $25.26354 per share ($25.00 per share plus accrued and unpaid dividends of $0.26354 per share). As of the redemption date, there are no longer any issued and outstanding shares of preferred stock.

On October 23, 2012, the Board of Directors declared a two-for-one stock split on its common stock in the form of a 100 percent stock dividend, payable on December 14, 2012, to stockholders of record on November 30, 2012. Par value for common shares remained at $1.00 per share. As a result of the split, 12,460,000 additional shares were issued, and retained earnings were reduced by $12,460,000. All historical share and per share data disclosed in the consolidated financial statements and notes thereto have been retroactively adjusted for the stock split.

At December 31, 2013 and 2012, treasury stock consisted of 3,231,289 shares and 3,175,638 shares of common stock, respectively. During 2013, 41,688 shares of Company common stock were purchased in the open market, 1,562 shares were received in lieu of cash from employees exercising stock options, and 17,345 shares were received to settle employees’ minimum statutory withholding taxes related to performance stock awards. Also, 4,944 shares of treasury stock were distributed to participants as part of Company’s deferred compensation plan.