COMMON STOCK AND PREFERRED STOCK

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Common Stock and Preferred Stock

18. COMMON STOCK AND PREFERRED STOCK

We are authorized to issue 150,000,000 shares of common stock with a par value of $0.01 per share, of which 35,504,378 shares were outstanding at December 31, 2013. A summary of changes in common stock issued and treasury stock is presented below.

	Common Stock	Treasury Stock
Balance at December 31, 2010	49,445,350	767
Purchase of treasury stock	—	4,280,000
Issuance pursuant to stock option and stock-SARS plan	122,983	(178,352	)
Awards of restricted stock	—	(12,384	)
Issuance of deferred shares	17,865	(12,671	)
Balance at December 31, 2011	49,586,198	4,077,360
Purchase of treasury stock	—	1,455,111
Issuance pursuant to stock option and stock-SARS plan	32,663	(842,746	)
Awards of restricted stock	—	(10,683	)
Issuance of deferred shares	—	(6,342	)
Balance at December 31, 2012	49,618,861	4,672,700
Purchase of treasury stock	—	10,174,755
Issuance pursuant to stock option and stock-SARS plan	106,891	(598,326	)
Awards of restricted stock	—	(10,395	)
Issuance of deferred shares	—	(17,360	)
Balance at December 31, 2013	49,725,752	14,221,374

Treasury stock, when reissued, is relieved at the moving average cost of the shares in treasury.

Dividends

During 2013, 2012 and 2011, four quarterly cash dividends of $0.125 per share were declared and paid totaling $19.7, $22.9, and $24.3, respectively.

On January 30, 2014, our Board of Directors declared a quarterly cash dividend of $0.125 per common share, payable on February 25, 2014 to stockholders of record as of February 10, 2014.

Share Repurchases

During 2013, we repurchased 10,174,755 shares of common stock for $750.1 under our stock buyback program. In 2012, we repurchased 1,455,111 shares of common stock for $99.9 under our stock buyback program. In 2011, we repurchased 4,280,000 shares of our common stock at a total cost of $196.1. There are no amounts remaining under the buyback program as of December 31, 2013.