| Summary of changes in shareholders' equity |
A summary of changes in shareholders’ equity is presented below:
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Six Months Ended June 30, 2014 |
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(In thousands) |
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Number of
Shares
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|
Common
Stock
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Additional
Paid-In
Capital
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|
Retained
Earnings
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|
Total |
Balance at December 31, 2013 |
36,244 |
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|
$ |
362 |
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|
$ |
412,961 |
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|
$ |
428,069 |
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|
$ |
841,392 |
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Net earnings |
— |
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|
— |
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— |
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|
60,456 |
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|
60,456 |
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Exercise/vesting of equity awards |
348 |
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|
4 |
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|
703 |
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|
— |
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|
707 |
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Excess income tax benefit from stock-based awards |
— |
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|
— |
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|
2,194 |
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|
— |
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|
2,194 |
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Equity award compensation expense |
— |
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|
— |
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|
5,264 |
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— |
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|
5,264 |
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Issuance of stock (1) |
2,530 |
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|
25 |
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|
110,395 |
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|
— |
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|
110,420 |
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Other |
— |
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|
— |
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|
(114 |
) |
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— |
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|
(114 |
) |
Balance at June 30, 2014 |
39,122 |
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$ |
391 |
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$ |
531,403 |
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$ |
488,525 |
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$ |
1,020,319 |
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Six Months Ended June 30, 2013 |
|
(In thousands) |
|
Number of
Shares
|
|
Common
Stock
|
|
Additional
Paid-In
Capital
|
|
Retained
Earnings
|
|
Total |
Balance at December 31, 2012 |
35,613 |
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|
$ |
356 |
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|
$ |
390,249 |
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|
$ |
303,605 |
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|
$ |
694,210 |
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Net earnings |
— |
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|
— |
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— |
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|
40,184 |
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|
40,184 |
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Exercise/vesting of equity awards |
603 |
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|
6 |
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|
10,910 |
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|
— |
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|
10,916 |
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Excess income tax benefit from stock-based awards |
— |
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|
— |
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|
1,687 |
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|
— |
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|
1,687 |
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Equity award compensation expense |
— |
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|
— |
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|
3,941 |
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— |
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|
3,941 |
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Non-controlling interest acquisition |
— |
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— |
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(257 |
) |
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— |
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|
(257 |
) |
Balance at June 30, 2013 |
36,216 |
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$ |
362 |
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$ |
406,530 |
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$ |
343,789 |
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$ |
750,681 |
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(1) In January 2014, we issued 2,530,000 shares of common stock in a secondary public offering, par value $0.01 per share, at a price of $45.75 per share.
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