| 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:
| (in thousands) |
|
December 31, 2014
(pre-split) |
|
|
Adjustment |
|
|
December 31, 2014
(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 and 0 shares, respectively |
|
|
(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 |
|
|