Capital Stock (Notes)

6 Months Ended

Jun. 30, 2014

Disclosure Capital Stock Additional Information [Abstract]

Capital Stock

Capital Stock

Preferred Stock - The Company has authorized 100,000 shares of $50 par value 4.5% cumulative preferred nonvoting stock which is callable at $52.50. There are 71,373 shares issued and 52,878 shares held in treasury at June 30, 2014. There were no treasury purchases of preferred stock during the quarter or six months ended June 30, 2014. The Company has also authorized 1,000,000 shares of $10 par value second cumulative preferred voting stock. No shares have been issued as of June 30, 2014.

Common Stock - The Company has authorized 180,000,000 shares of no par value common stock. There were 37,384,962 and 37,202,099 shares outstanding at June 30, 2014 and December 31, 2013, respectively.

Stock Compensation Trust - The MSA Safety Incorporated Stock Compensation Trust was established to provide shares for certain benefit plans, including the management equity incentive plan. Shares held by the Stock Compensation Trust and the corresponding cost of those shares, are reported as a reduction of common shares issued. Differences between the cost of the shares held by the Stock Compensation Trust and the market value of shares released for stock-related benefits are reflected in common stock issued. There were 39,064 and 303,668 shares available at June 30, 2014 and December 31, 2013, respectively. The Company will issue common stock from Treasury Shares for all share based benefit plans when the Stock Compensation Trust is depleted.

Treasury Shares - In November 2005, the Board of Directors authorized the purchase of up to $100.0 million of MSA common stock either through private transactions or open market transactions. The share purchase program has no expiration date. The maximum shares that may be purchased is calculated based on the dollars remaining under the program and the respective month-end closing share price. We do not have any other share purchase programs. There were 24,657,365 and 24,575,624 Treasury Shares at June 30, 2014 and December 31, 2013, respectively.

The Company began issuing Treasury Shares for all Board of Director share based benefit plans in April, 2014. Shares are issued from Treasury at the average Treasury Share cost on the date of the transaction. There were 15,994 Treasury Shares issued for these purposes during the six months ended June 30, 2014.