| Summary of changes in shareholders' equity |
A summary of changes in shareholders’ equity is presented below (dollars in thousands):
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Nine Months Ended September 30, 2014 |
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Number of
Shares
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|
Common
Stock
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|
Additional
Paid-In
Capital
|
|
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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|
93,033 |
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|
93,033 |
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Exercise/vesting of equity awards |
351 |
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|
4 |
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|
730 |
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|
— |
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|
734 |
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Excess income tax benefit from stock-based awards |
— |
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|
— |
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|
2,197 |
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|
— |
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|
2,197 |
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Equity award compensation expense |
— |
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|
— |
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|
9,035 |
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|
— |
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|
9,035 |
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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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|
(114 |
) |
Balance at September 30, 2014 |
39,125 |
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|
$ |
391 |
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$ |
535,204 |
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$ |
521,102 |
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$ |
1,056,697 |
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Nine Months Ended September 30, 2013 |
|
Number of
Shares
|
|
Common
Stock
|
|
Additional
Paid-In
Capital
|
|
Retained
Earnings
|
|
Total |
Balance at December 31, 2012 |
35,613 |
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|
$ |
356 |
|
|
$ |
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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|
78,375 |
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|
78,375 |
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Exercise/vesting of equity awards |
618 |
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|
6 |
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|
11,219 |
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|
— |
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|
11,225 |
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Excess income tax benefit from stock-based awards |
— |
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|
— |
|
|
1,733 |
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|
— |
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|
1,733 |
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Equity award compensation expense |
— |
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|
— |
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|
7,040 |
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|
— |
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|
7,040 |
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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 September 30, 2013 |
36,231 |
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$ |
362 |
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$ |
409,984 |
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$ |
381,980 |
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$ |
792,326 |
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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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