Annual report pursuant to Section 13 and 15(d)

THREE-FOR-TWO STOCK SPLIT (Tables)

v3.8.0.1
THREE-FOR-TWO STOCK SPLIT (Tables)
 12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
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
 

 
 

 
 

Preferred stock, without par value; 500,000 authorized, zero shares issued


 


 


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
)
 


 
(200
)
Paid-in-capital
62,839

 


 
62,839

Accumulated other comprehensive loss
(65,488
)
 


 
(65,488
)
Retained earnings
319,803

 
(72,761
)
 
247,042

Total stockholders’ equity
$
462,676

 


 
$
462,676


(1) Shares issued increased as follows: 2014 - 72,760,969; 2013 - 72,932,222
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