Capital Stock

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Capital Stock

(9) Capital Stock

We have authorized capital stock of 485.0 million shares, which includes 475.0 million shares of common stock and 10.0 million shares of preferred stock. The following is a schedule of changes in the number of common shares outstanding since the beginning of 2013:

	Year Ended December 31,
	2015		2014		2013
Beginning balance		168,628,177		163,342,894		162,514,098
Equity offering		−		4,560,000		−
Stock options/SARs exercised		77,002		195,242		278,916
Restricted stock grants		335,103		270,062		401,122
Restricted stock units vested		252,507		244,413		119,480
Treasury shares		23,671		15,566		29,278
Ending balance		169,316,460		168,628,177		163,342,894

Common Stock Dividends

The board of directors declared quarterly dividends of $0.04 per common share for each of the four quarters of 2015, 2014 and 2013. The determination of the amount of future dividends, if any, to be declared and paid is at the sole discretion of the board of directors and will depend on our financial condition, earnings and cash flow from operations, level of capital expenditures, our future business prospects and other matters our board of directors deem relevant. Our bank credit facility and our senior subordinated notes allow for the payment of common dividends, with certain limitations. Dividends are limited to our legally available funds.