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Redeemable Preferred Stock
12 Months Ended
Dec. 31, 2011
Equity [Abstract]  
Preferred Stock [Text Block]
Redeemable Preferred Stock
In connection with the Manugistics Group, Inc. (“Manugistics”) acquisition in 2006, we issued 50,000 shares of Series B preferred stock to a private equity investment firm for $50 million in cash. The Series B preferred stock was convertible, at any time in whole or in part, into a maximum of 3.6 million shares of common stock based on an agreed conversion rate of $13.875. During third quarter 2009, the private equity investment firm exercised conversion rights on 30,525 shares of the Series B preferred stock, which resulted in the issuance of 2.2 million shares of common stock. We recorded a $30.5 million adjustment to reduce the carrying value of the redeemable preferred stock ($13.875 per share for each of the 2.2 million shares of common stock), and increased common stock for the par value of converted shares ($22,000) and additional paid-in capital ($30.5 million).
We entered into a stock purchase agreement with a private equity investment firm in September 2009 to acquire the remaining shares of Series B preferred stock for $28.1 million in cash ($20 per share for each of the 1.4 million shares of common stock into which the Series B Preferred Stock was convertible). The agreed purchase price included $19.5 million, which represents the conversion of 1.4 million shares of common stock at the conversion price of $13.875, and $8.6 million, which represents consideration paid in excess of the conversion price of $13.875 ($6.125 per share). The consideration paid in excess of the conversion price was charged to retained earnings in the same manner as a dividend on preferred stock and reduced the income applicable to common shareholders in the calculation of earnings per share for 2009. As part of the purchase agreement, we also repurchased 0.1 million shares of our common stock held by the private equity investment firm for $2.0 million, or $20 per share.