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Capital Stock
12 Months Ended
Dec. 31, 2011
Capital Stock [Abstract]  
Capital Stock

Note 4—Capital Stock

 

   

Common stock, no par value—180,000,000 shares authorized.

   

Second cumulative preferred voting stock, $10 par value— 1,000,000 shares authorized; none issued.

 

   

4  1/2% cumulative preferred nonvoting stock, $50 par value—100,000 shares authorized; 71,373 shares issued and 52,878 shares ($1.8 million) held in treasury. There were no treasury share purchases during the three years ended December 31, 2011.

Common stock activity is summarized as follows:

 

     Shares     Dollars  

(Dollars in thousands)

   Issued      Stock
Compensation
Trust
    Treasury     Common
Stock
    Stock
Compensation
Trust
    Treasury
Cost
 

Balances January 1, 2009

     62,081,391         (2,378,462     (23,916,639   $ 69,607      $ (12,416   $ (256,077

Restricted stock awards

     —           178,692        —          (934     934        —     

Restricted stock expense

     —           —          —          3,128        —          —     

Restricted stock forfeitures

     —           —          (8,369     (101     —          —     

Stock options exercised

     —           25,566        —          122        133        —     

Stock option expense

     —           —          —          2,620        —          —     

Stock option forfeitures

     —           —          —          (155     —          —     

Performance stock expense

     —           —          —          375        —          —     

Performance stock forfeitures

     —           —          —          (7     —          —     

Tax provision related to stock plans

     —           —          —          (386     —          —     

Treasury shares purchased

     —           —          (9,661     —          —          (206
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balances December 31, 2009

     62,081,391         (2,174,204     (23,934,669     74,269        (11,349     (256,283

Restricted stock awards

     —           162,925        —          (850     850        —     

Restricted stock expense

     —           —          —          4,103        —          —     

Restricted stock forfeitures

     —           —          (1,092     (40     —          —     

Stock options exercised

     —           650,565        —          4,413        3,396        —     

Stock option expense

     —           —          —          2,748        —          —     

Performance stock expense

     —           —          —          524        —          —     

Tax benefit related to stock plans

     —           —          —          3,462        —          —     

Treasury shares purchased

     —           —          (265,190     —          —          (7,572
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balances December 31, 2010

     62,081,391         (1,360,714     (24,200,951     88,629        (7,103     (263,855

Restricted stock awards

     —           103,815        —          (542     542        —     

Restricted stock expense

     —           —          —          4,376        —          —     

Restricted stock forfeitures

     —           —          (7,469     (6     —          —     

Stock options exercised

     —           94,115        —          825        491        —     

Stock option expense

     —           —          —          2,343        —          —     

Performance stock expense

     —           —          —          1,019        —          —     

Tax benefit related to stock plans

     —           —          —          632        —          —     

Treasury shares purchased

     —           —          (17,597     —          —          (624
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balances December 31, 2011

     62,081,391         (1,162,784     (24,226,017     97,276        (6,070     264,479   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

The Mine Safety Appliances Company Stock Compensation Trust was established to provide shares for certain benefit plans, including the management and non-employee directors' equity incentive plans. 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.