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x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Ohio
|
|
34-0183970
|
(State or other jurisdiction of
incorporation or organization)
|
|
(IRS Employer
Identification Number)
|
|
|
|
5995 Mayfair Road, PO Box 3077, North Canton, Ohio
|
|
44720-8077
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Large accelerated filer
|
x
|
Accelerated filer
|
o
|
Non-accelerated filer
(Do not check if a smaller reporting company)
|
o
|
Smaller reporting company
|
o
|
PART I –
FINANCIAL INFORMATION
|
|
ITEM 1:
FINANCIAL STATEMENTS
|
|
ITEM 4:
CONTROLS AND PROCEDURES
|
|
PART II –
OTHER INFORMATION
|
|
ITEM 1:
LEGAL PROCEEDINGS
|
|
ITEM 1A:
RISK FACTORS
|
|
ITEM 3:
DEFAULTS UPON SENIOR SECURITIES
|
|
ITEM 4:
MINE SAFETY DISCLOSURES
|
|
ITEM 5:
OTHER INFORMATION
|
|
ITEM 6:
EXHIBITS
|
|
|
|
March 31,
2014 |
|
December 31,
2013 |
||||
|
|
(Unaudited)
|
|
|
||||
ASSETS
|
|
|
|
|
||||
Current assets
|
|
|
|
|
||||
Cash and cash equivalents
|
|
$
|
217,198
|
|
|
$
|
230,709
|
|
Short-term investments
|
|
209,017
|
|
|
242,988
|
|
||
Trade receivables, less allowances for doubtful accounts of $25,365 and $24,872, respectively
|
|
475,532
|
|
|
447,239
|
|
||
Inventories
|
|
417,689
|
|
|
376,462
|
|
||
Deferred income taxes
|
|
102,156
|
|
|
110,165
|
|
||
Prepaid expenses
|
|
25,314
|
|
|
22,031
|
|
||
Prepaid income taxes
|
|
20,587
|
|
|
21,245
|
|
||
Other current assets
|
|
150,130
|
|
|
104,511
|
|
||
Total current assets
|
|
1,617,623
|
|
|
1,555,350
|
|
||
Securities and other investments
|
|
81,584
|
|
|
82,591
|
|
||
Property, plant and equipment, at cost
|
|
598,064
|
|
|
599,094
|
|
||
Less accumulated depreciation and amortization
|
|
438,539
|
|
|
438,199
|
|
||
Property, plant and equipment, net
|
|
159,525
|
|
|
160,895
|
|
||
Goodwill
|
|
181,864
|
|
|
179,828
|
|
||
Deferred income taxes
|
|
64,836
|
|
|
39,461
|
|
||
Finance lease receivables
|
|
130,591
|
|
|
74,516
|
|
||
Other assets
|
|
96,477
|
|
|
90,850
|
|
||
Total assets
|
|
$
|
2,332,500
|
|
|
$
|
2,183,491
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
||||
Current liabilities
|
|
|
|
|
||||
Notes payable
|
|
$
|
78,968
|
|
|
$
|
43,791
|
|
Accounts payable
|
|
278,499
|
|
|
210,399
|
|
||
Deferred revenue
|
|
298,507
|
|
|
234,607
|
|
||
Payroll and other benefits liabilities
|
|
79,495
|
|
|
92,364
|
|
||
Other current liabilities
|
|
314,554
|
|
|
312,575
|
|
||
Total current liabilities
|
|
1,050,023
|
|
|
893,736
|
|
||
Long-term debt
|
|
457,076
|
|
|
480,242
|
|
||
Pensions and other benefits
|
|
116,716
|
|
|
118,674
|
|
||
Post-retirement and other benefits
|
|
19,595
|
|
|
19,282
|
|
||
Deferred income taxes
|
|
9,214
|
|
|
9,150
|
|
||
Other long-term liabilities
|
|
52,589
|
|
|
41,592
|
|
||
Commitments and contingencies
|
|
—
|
|
|
—
|
|
||
Equity
|
|
|
|
|
||||
Diebold, Incorporated shareholders' equity
|
|
|
|
|
||||
Preferred shares, no par value, 1,000,000 authorized shares, none issued
|
|
—
|
|
|
—
|
|
||
Common shares, $1.25 par value, 125,000,000 authorized shares, 79,076,885 and 78,618,517 issued shares, 64,487,964 and 64,068,047 outstanding shares, respectively
|
|
98,846
|
|
|
98,273
|
|
||
Additional capital
|
|
400,443
|
|
|
385,321
|
|
||
Retained earnings
|
|
713,896
|
|
|
722,743
|
|
||
Treasury shares, at cost (14,588,921 and 14,550,470 shares, respectively)
|
|
(556,559
|
)
|
|
(555,252
|
)
|
||
Accumulated other comprehensive loss
|
|
(46,375
|
)
|
|
(54,321
|
)
|
||
Total Diebold, Incorporated shareholders' equity
|
|
610,251
|
|
|
596,764
|
|
||
Noncontrolling interests
|
|
17,036
|
|
|
24,051
|
|
||
Total equity
|
|
627,287
|
|
|
620,815
|
|
||
Total liabilities and equity
|
|
$
|
2,332,500
|
|
|
$
|
2,183,491
|
|
|
||||||||
|
|
Three Months Ended
|
||||||
|
|
March 31,
|
||||||
|
|
2014
|
|
2013
|
||||
Net sales
|
|
|
|
|
||||
Services
|
|
$
|
383,379
|
|
|
$
|
382,218
|
|
Products
|
|
304,914
|
|
|
251,293
|
|
||
|
|
688,293
|
|
|
633,511
|
|
||
Cost of sales
|
|
|
|
|
||||
Services
|
|
275,225
|
|
|
296,911
|
|
||
Products
|
|
248,935
|
|
|
206,586
|
|
||
|
|
524,160
|
|
|
503,497
|
|
||
Gross profit
|
|
164,133
|
|
|
130,014
|
|
||
Selling and administrative expense
|
|
120,292
|
|
|
125,513
|
|
||
Research, development and engineering expense
|
|
20,070
|
|
|
21,030
|
|
||
Loss (gain) on sale of assets, net
|
|
492
|
|
|
(2,613
|
)
|
||
|
|
140,854
|
|
|
143,930
|
|
||
Operating profit (loss)
|
|
23,279
|
|
|
(13,916
|
)
|
||
Other income (expense)
|
|
|
|
|
||||
Investment income
|
|
8,711
|
|
|
7,551
|
|
||
Interest expense
|
|
(6,918
|
)
|
|
(7,343
|
)
|
||
Foreign exchange loss, net
|
|
(11,957
|
)
|
|
(2,214
|
)
|
||
Miscellaneous, net
|
|
(1,435
|
)
|
|
(1,098
|
)
|
||
Income (loss) before taxes
|
|
11,680
|
|
|
(17,020
|
)
|
||
Income tax expense (benefit)
|
|
6,804
|
|
|
(3,138
|
)
|
||
Net income (loss)
|
|
4,876
|
|
|
(13,882
|
)
|
||
Net loss attributable to noncontrolling interests
|
|
(4,930
|
)
|
|
(436
|
)
|
||
Net income (loss) attributable to Diebold, Incorporated
|
|
$
|
9,806
|
|
|
$
|
(13,446
|
)
|
|
|
|
|
|
||||
Basic weighted-average shares outstanding
|
|
64,254
|
|
|
63,311
|
|
||
Diluted weighted-average shares outstanding
|
|
64,809
|
|
|
63,311
|
|
||
|
|
|
|
|
||||
Net income (loss) attributable to Diebold, Incorporated:
|
|
|
|
|
||||
Basic earnings (loss) per share
|
|
$
|
0.15
|
|
|
$
|
(0.21
|
)
|
Diluted earnings (loss) per share
|
|
$
|
0.15
|
|
|
$
|
(0.21
|
)
|
|
|
Three Months Ended
|
||||||
|
|
March 31,
|
||||||
|
|
2014
|
|
2013
|
||||
Net income (loss)
|
|
$
|
4,876
|
|
|
$
|
(13,882
|
)
|
Other comprehensive income, net of tax:
|
|
|
|
|
||||
Translation adjustment
|
|
9,453
|
|
|
8,123
|
|
||
Foreign currency hedges (net of tax of $(860) and $101, respectively)
|
|
(1,597
|
)
|
|
186
|
|
||
Interest rate hedges:
|
|
|
|
|
|
|
||
Net gain recognized in other comprehensive income (net of tax of $93 and $111, respectively)
|
|
174
|
|
|
205
|
|
||
Reclassification adjustment for amounts recognized in net income (net of tax of $(30) and $(33), respectively)
|
|
(57
|
)
|
|
(60
|
)
|
||
|
|
117
|
|
|
145
|
|
||
Pension and other post-retirement benefits:
|
|
|
|
|
||||
Net actuarial loss amortization (net of tax of $282 and $2,192, respectively)
|
|
525
|
|
|
3,335
|
|
||
Net prior service benefit amortization (net of tax of $(33) and $(41), respectively)
|
|
(63
|
)
|
|
(63
|
)
|
||
Curtailment loss (net of tax of $0 and $460, respectively)
|
|
—
|
|
|
699
|
|
||
|
|
462
|
|
|
3,971
|
|
||
Unrealized gain (loss) on securities, net:
|
|
|
|
|
||||
Net loss recognized in other comprehensive income (net of tax of $(567) and $(8), respectively)
|
|
(1,034
|
)
|
|
(16
|
)
|
||
Reclassification adjustment for amounts recognized in net income (net of tax of $(18) and $(30), respectively)
|
|
(32
|
)
|
|
(56
|
)
|
||
|
|
(1,066
|
)
|
|
(72
|
)
|
||
Other
|
|
—
|
|
|
7
|
|
||
Other comprehensive income, net of tax
|
|
7,369
|
|
|
12,360
|
|
||
Comprehensive income (loss)
|
|
12,245
|
|
|
(1,522
|
)
|
||
Less: comprehensive loss attributable to noncontrolling interests
|
|
(5,507
|
)
|
|
(348
|
)
|
||
Comprehensive income (loss) attributable to Diebold, Incorporated
|
|
$
|
17,752
|
|
|
$
|
(1,174
|
)
|
|
|
Three Months Ended
|
||||||
|
|
March 31,
|
||||||
|
|
2014
|
|
2013
|
||||
Cash flow from operating activities:
|
|
|
|
|
||||
Net income (loss)
|
|
$
|
4,876
|
|
|
$
|
(13,882
|
)
|
Adjustments to reconcile net income (loss) to cash flow used in operating activities:
|
|
|
|
|
||||
Depreciation and amortization
|
|
17,680
|
|
|
19,831
|
|
||
Share-based compensation
|
|
5,080
|
|
|
7,186
|
|
||
Excess tax benefits from share-based compensation
|
|
(158
|
)
|
|
(166
|
)
|
||
Devaluation of Venezuelan balance sheet
|
|
12,101
|
|
|
1,584
|
|
||
Loss (gain) on sale of assets, net
|
|
492
|
|
|
(2,613
|
)
|
||
Cash flow from changes in certain assets and liabilities:
|
|
|
|
|
||||
Trade receivables
|
|
(33,666
|
)
|
|
4,848
|
|
||
Inventories
|
|
(42,482
|
)
|
|
(18,785
|
)
|
||
Prepaid expenses
|
|
(3,204
|
)
|
|
730
|
|
||
Prepaid income taxes
|
|
659
|
|
|
(10,826
|
)
|
||
Other current assets
|
|
(24,221
|
)
|
|
(30,450
|
)
|
||
Accounts payable
|
|
69,213
|
|
|
(11,739
|
)
|
||
Deferred revenue
|
|
64,810
|
|
|
35,419
|
|
||
Deferred income tax
|
|
(17,930
|
)
|
|
—
|
|
||
Finance lease receivables
|
|
(82,471
|
)
|
|
(10,437
|
)
|
||
Certain other assets and liabilities
|
|
(2,335
|
)
|
|
(2,430
|
)
|
||
Net cash used in operating activities
|
|
(31,556
|
)
|
|
(31,730
|
)
|
||
Cash flow from investing activities:
|
|
|
|
|
||||
Proceeds from maturities of investments
|
|
210,147
|
|
|
113,939
|
|
||
Proceeds from sale of investments
|
|
305
|
|
|
3,854
|
|
||
Payments for purchases of investments
|
|
(169,188
|
)
|
|
(108,887
|
)
|
||
Proceeds from sale of assets
|
|
330
|
|
|
3,112
|
|
||
Capital expenditures
|
|
(7,316
|
)
|
|
(9,328
|
)
|
||
Collections on purchased finance receivables
|
|
—
|
|
|
1,678
|
|
||
Increase in certain other assets
|
|
(6,183
|
)
|
|
(4,039
|
)
|
||
Net cash provided by investing activities
|
|
28,095
|
|
|
329
|
|
||
Cash flow from financing activities:
|
|
|
|
|
||||
Dividends paid
|
|
(18,653
|
)
|
|
(18,418
|
)
|
||
Revolving debt borrowings, net
|
|
4,125
|
|
|
108,000
|
|
||
Other debt borrowings
|
|
50,523
|
|
|
6,915
|
|
||
Other debt repayments
|
|
(42,760
|
)
|
|
(85,091
|
)
|
||
Distributions to noncontrolling interest holders
|
|
(1,508
|
)
|
|
(3,464
|
)
|
||
Excess tax benefits from share-based compensation
|
|
158
|
|
|
166
|
|
||
Issuance of common shares
|
|
10,615
|
|
|
98
|
|
||
Repurchase of common shares
|
|
(1,307
|
)
|
|
(1,685
|
)
|
||
Net cash provided by financing activities
|
|
1,193
|
|
|
6,521
|
|
||
Effect of exchange rate changes on cash and cash equivalents
|
|
(11,243
|
)
|
|
(3,769
|
)
|
||
Decrease in cash and cash equivalents
|
|
(13,511
|
)
|
|
(28,649
|
)
|
||
Cash and cash equivalents at the beginning of the period
|
|
230,709
|
|
|
368,792
|
|
||
Cash and cash equivalents at the end of the period
|
|
$
|
217,198
|
|
|
$
|
340,143
|
|
|
|
2014
|
|
2013
|
||||
Numerator:
|
|
|
|
|
||||
Income (loss) used in basic and diluted earnings per share:
|
|
|
|
|
||||
Net income (loss) attributable to Diebold, Incorporated
|
|
$
|
9,806
|
|
|
$
|
(13,446
|
)
|
Denominator (in thousands):
|
|
|
|
|
||||
Weighted-average number of common shares used in basic earnings per share
|
|
64,254
|
|
|
63,311
|
|
||
Effect of dilutive shares (1)
|
|
555
|
|
|
—
|
|
||
Weighted-average number of shares used in diluted earnings per share
|
|
64,809
|
|
|
63,311
|
|
||
Net income (loss) attributable to Diebold, Incorporated:
|
|
|
|
|
||||
Basic earnings (loss) per share
|
|
$
|
0.15
|
|
|
$
|
(0.21
|
)
|
Diluted earnings (loss) per share
|
|
$
|
0.15
|
|
|
$
|
(0.21
|
)
|
Anti-dilutive shares (in thousands):
|
|
|
|
|
||||
Anti-dilutive shares not used in calculating diluted weighted-average shares
|
|
1,657
|
|
|
2,784
|
|
|
|
2014
|
|
2013
|
||||
Diebold, Incorporated shareholders' equity
|
|
|
|
|
||||
Balance at beginning of period
|
|
$
|
596,764
|
|
|
$
|
809,963
|
|
Comprehensive income (loss) attributable to Diebold, Incorporated
|
|
17,752
|
|
|
(1,174
|
)
|
||
Common shares
|
|
573
|
|
|
545
|
|
||
Additional capital
|
|
15,122
|
|
|
13,628
|
|
||
Treasury shares
|
|
(1,307
|
)
|
|
(1,685
|
)
|
||
Dividends paid
|
|
(18,653
|
)
|
|
(18,418
|
)
|
||
Balance at end of period
|
|
$
|
610,251
|
|
|
$
|
802,859
|
|
|
|
|
|
|
||||
Noncontrolling interests
|
|
|
|
|
||||
Balance at beginning of period
|
|
$
|
24,051
|
|
|
$
|
35,348
|
|
Comprehensive loss attributable to noncontrolling interests
|
|
(5,507
|
)
|
|
(348
|
)
|
||
Distributions to noncontrolling interest holders
|
|
(1,508
|
)
|
|
(3,464
|
)
|
||
Balance at end of period
|
|
$
|
17,036
|
|
|
$
|
31,536
|
|
|
|
Translation
|
|
Foreign Currency Hedges
|
|
Interest Rate Hedges
|
|
Pension and Other Post-retirement Benefits
|
|
Unrealized Gain on Securities, Net
|
|
Other
|
|
Accumulated Other Comprehensive Income
|
||||||||||||||
Balance at January 1, 2014
|
|
$
|
(2,409
|
)
|
|
$
|
(1,884
|
)
|
|
$
|
(960
|
)
|
|
$
|
(52,027
|
)
|
|
$
|
2,679
|
|
|
$
|
280
|
|
|
$
|
(54,321
|
)
|
Other comprehensive income before reclassifications (1)
|
|
10,030
|
|
|
(1,597
|
)
|
|
174
|
|
|
—
|
|
|
(1,034
|
)
|
|
—
|
|
|
7,573
|
|
|||||||
Amounts reclassified from AOCI
|
|
—
|
|
|
—
|
|
|
(57
|
)
|
|
462
|
|
|
(32
|
)
|
|
—
|
|
|
373
|
|
|||||||
Net current-period other comprehensive income (loss)
|
|
10,030
|
|
|
(1,597
|
)
|
|
117
|
|
|
462
|
|
|
(1,066
|
)
|
|
—
|
|
|
7,946
|
|
|||||||
Balance at March 31, 2014
|
|
$
|
7,621
|
|
|
$
|
(3,481
|
)
|
|
$
|
(843
|
)
|
|
$
|
(51,565
|
)
|
|
$
|
1,613
|
|
|
$
|
280
|
|
|
$
|
(46,375
|
)
|
|
|
Amount Reclassified from AOCI
|
|
Affected Line Item in the Statement of Operations
|
||
Interest rate hedges (net of tax of $(30))
|
|
$
|
(57
|
)
|
|
Interest expense
|
Pension and post-retirement benefits:
|
|
|
|
|
||
Net actuarial loss amortization (net of tax of $282)
|
|
525
|
|
|
(1)
|
|
Net prior service benefit amortization (net of tax of $(33))
|
|
(63
|
)
|
|
(1)
|
|
|
|
462
|
|
|
|
|
Unrealized gain on securities, net (net of tax of $(18))
|
|
(32
|
)
|
|
Investment income
|
|
Total reclassifications for the period
|
|
$
|
373
|
|
|
|
|
|
Number of
Shares
|
|
Weighted-
Average
Exercise
Price
|
|
Weighted-
Average
Remaining
Contractual
Term
|
|
Aggregate
Intrinsic
Value (1)
|
|||||
|
|
(in thousands)
|
|
(per share)
|
|
(in years)
|
|
|
|||||
Outstanding at January 1, 2014
|
|
1,954
|
|
|
$
|
39.63
|
|
|
|
|
|
||
Expired or forfeited
|
|
(283
|
)
|
|
52.35
|
|
|
|
|
|
|||
Exercised
|
|
(327
|
)
|
|
32.50
|
|
|
|
|
|
|||
Granted
|
|
446
|
|
|
34.13
|
|
|
|
|
|
|||
Outstanding at March 31, 2014
|
|
1,790
|
|
|
37.34
|
|
|
6
|
|
$
|
8,889
|
|
|
Options exercisable at March 31, 2014
|
|
1,018
|
|
|
40.30
|
|
|
4
|
|
3,902
|
|
||
Options vested and expected to vest at March 31, 2014 (2)
|
|
1,762
|
|
|
37.41
|
|
|
6
|
|
8,693
|
|
|
|
Number of
Shares
|
|
Weighted-Average
Grant-Date Fair
Value
|
|||
|
|
(in thousands)
|
|
|
|||
RSUs:
|
|
|
|
|
|||
Non-Vested at January 1, 2014
|
|
499
|
|
|
$
|
32.28
|
|
Forfeited
|
|
(21
|
)
|
|
32.63
|
|
|
Vested
|
|
(128
|
)
|
|
32.74
|
|
|
Granted
|
|
257
|
|
|
34.19
|
|
|
Non-Vested at March 31, 2014
|
|
607
|
|
|
32.98
|
|
|
Performance Shares (1):
|
|
|
|
|
|||
Non-Vested at January 1, 2014
|
|
542
|
|
|
$
|
37.10
|
|
Forfeited
|
|
(159
|
)
|
|
39.77
|
|
|
Granted
|
|
723
|
|
|
36.76
|
|
|
Non-Vested at March 31, 2014
|
|
1,106
|
|
|
36.50
|
|
|
Director Deferred Shares:
|
|
|
|
|
|||
Non-Vested at March 31, 2014
|
|
30
|
|
|
$
|
29.73
|
|
Vested at March 31, 2014
|
|
116
|
|
|
34.88
|
|
|
Outstanding at March 31, 2014
|
|
146
|
|
|
33.81
|
|
(1)
|
Non-vested performance shares are based on a maximum potential payout. Actual shares granted at the end of the performance period may be less than the maximum potential payout level depending on achievement of performance share objectives. During the first quarter of 2014, the Company granted maximum performance shares of
432 thousand
based on certain annual management objectives, as determined by the Board of Directors. These performance shares vest proportionately over a three-year period and have a grant-date fair value of
$32.97
.
|
|
|
Cost Basis
|
|
Unrealized Gain
|
|
Fair Value
|
||||||
As of March 31, 2014
|
|
|
|
|
|
|
||||||
Short-term investments:
|
|
|
|
|
|
|
||||||
Certificates of deposit
|
|
$
|
169,652
|
|
|
$
|
—
|
|
|
$
|
169,652
|
|
U.S. dollar indexed bond funds
|
|
38,301
|
|
|
1,064
|
|
|
39,365
|
|
|||
|
|
$
|
207,953
|
|
|
$
|
1,064
|
|
|
$
|
209,017
|
|
Long-term investments:
|
|
|
|
|
|
|
||||||
Assets held in a rabbi trust
|
|
$
|
9,738
|
|
|
$
|
423
|
|
|
$
|
10,161
|
|
|
|
|
|
|
|
|
||||||
As of December 31, 2013
|
|
|
|
|
|
|
||||||
Short-term investments:
|
|
|
|
|
|
|
||||||
Certificates of deposit
|
|
$
|
215,010
|
|
|
$
|
—
|
|
|
$
|
215,010
|
|
U.S. dollar indexed bond funds
|
|
25,263
|
|
|
2,715
|
|
|
27,978
|
|
|||
|
|
$
|
240,273
|
|
|
$
|
2,715
|
|
|
$
|
242,988
|
|
Long-term investments:
|
|
|
|
|
|
|
||||||
Assets held in a rabbi trust
|
|
$
|
10,085
|
|
|
$
|
292
|
|
|
$
|
10,377
|
|
|
||||||||||||
|
|
Finance
Leases
|
|
Notes
Receivable
|
|
Total
|
||||||
Allowance for credit losses
|
|
|
|
|
|
|
||||||
Balance at January 1, 2014
|
|
$
|
439
|
|
|
$
|
4,134
|
|
|
$
|
4,573
|
|
Provision for credit losses
|
|
8
|
|
|
—
|
|
|
8
|
|
|||
Balance at March 31, 2014
|
|
$
|
447
|
|
|
$
|
4,134
|
|
|
$
|
4,581
|
|
|
|
|
|
|
|
|
||||||
Balance at January 1, 2013
|
|
$
|
525
|
|
|
$
|
2,047
|
|
|
$
|
2,572
|
|
Provision for credit losses
|
|
7
|
|
|
—
|
|
|
7
|
|
|||
Recoveries
|
|
3
|
|
|
—
|
|
|
3
|
|
|||
Write-offs
|
|
(75
|
)
|
|
(426
|
)
|
|
(501
|
)
|
|||
Balance at March 31, 2013
|
|
$
|
460
|
|
|
$
|
1,621
|
|
|
$
|
2,081
|
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||
30-59 days past due
|
|
$
|
—
|
|
|
$
|
85
|
|
60-89 days past due
|
|
—
|
|
|
—
|
|
||
> 89 days past due (1)
|
|
759
|
|
|
—
|
|
||
Total past due
|
|
$
|
759
|
|
|
$
|
85
|
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||
Finished goods
|
|
$
|
206,711
|
|
|
$
|
167,577
|
|
Service parts
|
|
126,291
|
|
|
132,508
|
|
||
Raw materials and work in process
|
|
84,687
|
|
|
76,377
|
|
||
Total inventories
|
|
$
|
417,689
|
|
|
$
|
376,462
|
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||
Notes payable:
|
|
|
|
|
||||
Uncommitted lines of credit
|
|
$
|
78,255
|
|
|
$
|
43,062
|
|
Other
|
|
713
|
|
|
729
|
|
||
|
|
$
|
78,968
|
|
|
$
|
43,791
|
|
Long-term debt:
|
|
|
|
|
||||
Credit facility
|
|
$
|
216,125
|
|
|
$
|
239,000
|
|
Senior notes
|
|
225,000
|
|
|
225,000
|
|
||
Industrial development revenue bonds
|
|
11,900
|
|
|
11,900
|
|
||
Other
|
|
4,051
|
|
|
4,342
|
|
||
|
|
$
|
457,076
|
|
|
$
|
480,242
|
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
||||||||
Components of net periodic benefit cost
|
|
|
|
|
|
|
|
|
||||||||
Service cost
|
|
$
|
732
|
|
|
$
|
3,331
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Interest cost
|
|
5,750
|
|
|
6,957
|
|
|
157
|
|
|
157
|
|
||||
Expected return on plan assets
|
|
(6,449
|
)
|
|
(8,803
|
)
|
|
—
|
|
|
—
|
|
||||
Amortization of prior service (benefit) cost
|
|
(39
|
)
|
|
18
|
|
|
(57
|
)
|
|
(122
|
)
|
||||
Recognized net actuarial loss
|
|
756
|
|
|
5,421
|
|
|
51
|
|
|
106
|
|
||||
Curtailment loss
|
|
—
|
|
|
1,159
|
|
|
—
|
|
|
—
|
|
||||
Net periodic pension benefit cost
|
|
$
|
750
|
|
|
$
|
8,083
|
|
|
$
|
151
|
|
|
$
|
141
|
|
|
|
2014
|
|
2013
|
||||
Balance at January 1
|
|
$
|
83,199
|
|
|
$
|
81,751
|
|
Current period accruals (1)
|
|
11,836
|
|
|
12,936
|
|
||
Current period settlements
|
|
(12,278
|
)
|
|
(13,011
|
)
|
||
Balance at March 31
|
|
$
|
82,757
|
|
|
$
|
81,676
|
|
(1)
|
Includes the impact of foreign exchange rate fluctuations.
|
|
|
2014
|
|
2013
|
||||
Interest expense
|
|
$
|
(1,430
|
)
|
|
$
|
(815
|
)
|
Foreign exchange loss, net
|
|
1,231
|
|
|
1,402
|
|
||
|
|
$
|
(199
|
)
|
|
$
|
587
|
|
|
|
2014
|
|
2013
|
||||
Cost of sales – services
|
|
$
|
700
|
|
|
$
|
2,624
|
|
Cost of sales – products
|
|
14
|
|
|
139
|
|
||
Selling and administrative expense
|
|
4,465
|
|
|
5,887
|
|
||
Research, development and engineering expense
|
|
(42
|
)
|
|
853
|
|
||
Total
|
|
$
|
5,137
|
|
|
$
|
9,503
|
|
|
|
2014
|
|
2013
|
||||
Severance
|
|
|
|
|
||||
North America (NA)
|
|
$
|
2,138
|
|
|
$
|
9,528
|
|
Asia Pacific (AP)
|
|
255
|
|
|
—
|
|
||
Europe, Middle East and Africa (EMEA)
|
|
597
|
|
|
(98
|
)
|
||
Latin America (LA)
|
|
1,242
|
|
|
—
|
|
||
Brazil
|
|
905
|
|
|
12
|
|
||
Total Severance
|
|
5,137
|
|
|
9,442
|
|
||
|
|
|
|
|
||||
Other
|
|
|
|
|
||||
EMEA
|
|
—
|
|
|
61
|
|
||
Total Other
|
|
—
|
|
|
61
|
|
||
Total
|
|
$
|
5,137
|
|
|
$
|
9,503
|
|
|
|
2014
|
|
2013
|
||||
Balance at January 1
|
|
$
|
35,289
|
|
|
$
|
11,844
|
|
Liabilities incurred
|
|
5,137
|
|
|
9,503
|
|
||
Liabilities paid/settled
|
|
(23,425
|
)
|
|
(5,994
|
)
|
||
Balance at March 31
|
|
$
|
17,001
|
|
|
$
|
15,353
|
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||||||||||||||||||
|
|
|
|
Fair Value Measurements Using
|
|
|
|
Fair Value Measurements Using
|
||||||||||||||||
|
|
Fair Value
|
|
Level 1
|
|
Level 2
|
|
Fair Value
|
|
Level 1
|
|
Level 2
|
||||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Short-term investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Certificates of deposit
|
|
$
|
169,652
|
|
|
$
|
169,652
|
|
|
$
|
—
|
|
|
$
|
215,010
|
|
|
$
|
215,010
|
|
|
$
|
—
|
|
U.S. dollar indexed bond funds
|
|
39,365
|
|
|
—
|
|
|
39,365
|
|
|
27,978
|
|
|
—
|
|
|
27,978
|
|
||||||
Assets held in rabbi trusts
|
|
10,161
|
|
|
10,161
|
|
|
—
|
|
|
10,377
|
|
|
10,377
|
|
|
—
|
|
||||||
Foreign exchange forward contracts
|
|
96
|
|
|
—
|
|
|
96
|
|
|
1,382
|
|
|
—
|
|
|
1,382
|
|
||||||
Total
|
|
$
|
219,274
|
|
|
$
|
179,813
|
|
|
$
|
39,461
|
|
|
$
|
254,747
|
|
|
$
|
225,387
|
|
|
$
|
29,360
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Deferred compensation
|
|
$
|
10,161
|
|
|
$
|
10,161
|
|
|
$
|
—
|
|
|
$
|
10,377
|
|
|
$
|
10,377
|
|
|
$
|
—
|
|
Foreign exchange forward contracts
|
|
2,828
|
|
|
—
|
|
|
2,828
|
|
|
364
|
|
|
—
|
|
|
364
|
|
||||||
Interest rate swaps
|
|
2,074
|
|
|
—
|
|
|
2,074
|
|
|
2,351
|
|
|
—
|
|
|
2,351
|
|
||||||
Total
|
|
$
|
15,063
|
|
|
$
|
10,161
|
|
|
$
|
4,902
|
|
|
$
|
13,092
|
|
|
$
|
10,377
|
|
|
$
|
2,715
|
|
|
|
March 31, 2014
|
|
December 31, 2013
|
||||||||||||
|
|
Fair Value
|
|
Carrying
Value
|
|
Fair Value
|
|
Carrying
Value
|
||||||||
Notes payable
|
|
$
|
78,968
|
|
|
$
|
78,968
|
|
|
$
|
43,791
|
|
|
$
|
43,791
|
|
Long-term debt
|
|
466,182
|
|
|
457,076
|
|
|
489,499
|
|
|
480,242
|
|
||||
Total debt instruments
|
|
$
|
545,150
|
|
|
$
|
536,044
|
|
|
$
|
533,290
|
|
|
$
|
524,033
|
|
|
|
2014
|
|
2013
|
||||
Revenue summary by segment
|
|
|
|
|
||||
NA
|
|
$
|
317,495
|
|
|
$
|
330,855
|
|
AP
|
|
107,136
|
|
|
112,183
|
|
||
EMEA
|
|
84,114
|
|
|
66,068
|
|
||
LA
|
|
48,950
|
|
|
45,692
|
|
||
Brazil
|
|
130,598
|
|
|
78,713
|
|
||
Total customer revenues
|
|
$
|
688,293
|
|
|
$
|
633,511
|
|
|
|
|
|
|
||||
Intersegment revenues
|
|
|
|
|
||||
NA
|
|
$
|
15,382
|
|
|
$
|
18,798
|
|
AP
|
|
23,845
|
|
|
16,136
|
|
||
EMEA
|
|
7,044
|
|
|
15,893
|
|
||
LA
|
|
124
|
|
|
—
|
|
||
Total intersegment revenues
|
|
$
|
46,395
|
|
|
$
|
50,827
|
|
|
|
|
|
|
||||
Segment operating profit (loss)
|
|
|
|
|
||||
NA
|
|
$
|
58,230
|
|
|
$
|
46,077
|
|
AP
|
|
16,779
|
|
|
13,707
|
|
||
EMEA
|
|
11,336
|
|
|
4,292
|
|
||
LA
|
|
1,536
|
|
|
5,270
|
|
||
Brazil
|
|
9,992
|
|
|
(1,152
|
)
|
||
Total segment operating profit
|
|
$
|
97,873
|
|
|
$
|
68,194
|
|
Corporate charges not allocated to segments (1)
|
|
(68,383
|
)
|
|
(64,413
|
)
|
||
Restructuring charges
|
|
(5,137
|
)
|
|
(9,503
|
)
|
||
Net non-routine expenses
|
|
(1,074
|
)
|
|
(8,194
|
)
|
||
|
|
(74,594
|
)
|
|
(82,110
|
)
|
||
Operating profit (loss)
|
|
$
|
23,279
|
|
|
$
|
(13,916
|
)
|
|
|
2014
|
|
2013
|
||||
Segment property, plant and equipment, at cost
|
|
|
|
|
||||
NA
|
|
$
|
134,880
|
|
|
$
|
155,599
|
|
AP
|
|
47,052
|
|
|
48,754
|
|
||
EMEA
|
|
40,761
|
|
|
38,731
|
|
||
LA
|
|
24,491
|
|
|
24,779
|
|
||
Brazil
|
|
60,974
|
|
|
73,753
|
|
||
Total segment property, plant and equipment, at cost
|
|
308,158
|
|
|
341,616
|
|
||
Corporate property plant and equipment, at cost, not allocated to segments
|
|
289,906
|
|
|
305,867
|
|
||
Total property, plant and equipment,at cost
|
|
$
|
598,064
|
|
|
$
|
647,483
|
|
|
|
|
|
|
||||
Segment depreciation and amortization expense
|
|
|
|
|
||||
NA
|
|
$
|
2,439
|
|
|
$
|
3,037
|
|
AP
|
|
1,858
|
|
|
1,882
|
|
||
EMEA
|
|
1,235
|
|
|
991
|
|
||
LA
|
|
761
|
|
|
847
|
|
||
Brazil
|
|
1,154
|
|
|
2,175
|
|
||
Total segment depreciation and amortization expense
|
|
7,447
|
|
|
8,932
|
|
||
Corporate depreciation and amortization expense
|
|
10,233
|
|
|
10,899
|
|
||
Total depreciation and amortization expense
|
|
$
|
17,680
|
|
|
$
|
19,831
|
|
Revenue summary by service and product solution
|
|
2014
|
|
2013
|
||||
Financial self-service:
|
|
|
|
|
||||
Services
|
|
$
|
284,955
|
|
|
$
|
280,283
|
|
Products
|
|
181,577
|
|
|
206,118
|
|
||
Total financial self-service
|
|
466,532
|
|
|
486,401
|
|
||
Security:
|
|
|
|
|
||||
Services
|
|
98,424
|
|
|
101,935
|
|
||
Products
|
|
43,951
|
|
|
35,317
|
|
||
Total security
|
|
142,375
|
|
|
137,252
|
|
||
Total financial self-service & security
|
|
608,907
|
|
|
623,653
|
|
||
Brazil other
|
|
79,386
|
|
|
9,858
|
|
||
|
|
$
|
688,293
|
|
|
$
|
633,511
|
|
•
|
Reduce its cost structure and improve its near-term delivery and execution.
|
•
|
Generate increased free cash flow in order to fund the investments necessary to drive profitable growth, while preserving the ability to return value to shareholders in the form of reliable dividends and, as appropriate, share repurchases.
|
•
|
Attract and retain the talent necessary to drive innovation and the focused execution of the transformation strategy.
|
•
|
Return the Company to a sustainable, profitable growth trajectory.
|
1.
|
Establish a Competitive Cost Structure
|
2.
|
Drive Sustainable Improvement in Cash Flow
|
3.
|
Improve Sales Effectiveness
|
4.
|
Increase Speed and Agility
|
5.
|
Instill a Winning Culture Grounded in Execution
|
6.
|
Collaborate With Customers and Partners to Drive Innovative Solutions
|
7.
|
Further Leverage Services and Software
|
8.
|
Generate Long-Term, Profitable Growth
|
|
|
Three Months Ended
|
||||||||||||
|
|
March 31,
|
||||||||||||
|
|
2014
|
|
2013
|
||||||||||
|
|
Dollars
|
|
% of
Net sales
|
|
Dollars
|
|
% of
Net sales
|
||||||
Net sales
|
|
$
|
688,293
|
|
|
100.0
|
|
|
$
|
633,511
|
|
|
100.0
|
|
Gross profit
|
|
164,133
|
|
|
23.8
|
|
|
130,014
|
|
|
20.5
|
|
||
Operating expenses
|
|
140,854
|
|
|
20.5
|
|
|
143,930
|
|
|
22.7
|
|
||
Operating profit (loss)
|
|
23,279
|
|
|
3.4
|
|
|
(13,916
|
)
|
|
(2.2
|
)
|
||
Net income (loss)
|
|
4,876
|
|
|
0.7
|
|
|
(13,882
|
)
|
|
(2.2
|
)
|
||
Net loss attributable to noncontrolling interests
|
|
(4,930
|
)
|
|
(0.7
|
)
|
|
(436
|
)
|
|
(0.1
|
)
|
||
Net income (loss) attributable to Diebold, Incorporated
|
|
9,806
|
|
|
1.4
|
|
|
(13,446
|
)
|
|
(2.1
|
)
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
|||||||
Total financial self-service
|
|
466,532
|
|
|
486,401
|
|
|
(19,869
|
)
|
|
(4.1
|
)
|
|||
Total security
|
|
142,375
|
|
|
137,252
|
|
|
5,123
|
|
|
3.7
|
|
|||
Brazil other
|
|
79,386
|
|
|
9,858
|
|
|
69,528
|
|
|
705.3
|
|
|||
Total customer revenue
|
|
$
|
688,293
|
|
|
$
|
633,511
|
|
|
$
|
54,782
|
|
|
8.6
|
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
||||||
Gross profit - services
|
|
$
|
108,154
|
|
|
$
|
85,307
|
|
|
$
|
22,847
|
|
|
26.8
|
Gross profit - products
|
|
55,979
|
|
|
44,707
|
|
|
11,272
|
|
|
25.2
|
|||
Total gross profit
|
|
$
|
164,133
|
|
|
$
|
130,014
|
|
|
$
|
34,119
|
|
|
26.2
|
|
|
|
|
|
|
|
|
|
||||||
Gross margin – services
|
|
28.2
|
%
|
|
22.3
|
%
|
|
|
|
|
||||
Gross margin – products
|
|
18.4
|
%
|
|
17.8
|
%
|
|
|
|
|
||||
Total gross margin
|
|
23.8
|
%
|
|
20.5
|
%
|
|
|
|
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
|||||||
Selling and administrative expense
|
|
$
|
120,292
|
|
|
$
|
125,513
|
|
|
$
|
(5,221
|
)
|
|
(4.2
|
)
|
Research, development and engineering expense
|
|
20,070
|
|
|
21,030
|
|
|
(960
|
)
|
|
(4.6
|
)
|
|||
Loss (gain) on sale of assets, net
|
|
492
|
|
|
(2,613
|
)
|
|
3,105
|
|
|
118.8
|
|
|||
Total operating expenses
|
|
$
|
140,854
|
|
|
$
|
143,930
|
|
|
$
|
(3,076
|
)
|
|
(2.1
|
)
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
||||||
Operating profit (loss)
|
|
$
|
23,279
|
|
|
$
|
(13,916
|
)
|
|
$
|
37,195
|
|
|
267.3
|
Operating profit (loss) margin
|
|
3.4
|
%
|
|
(2.2
|
)%
|
|
|
|
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
|||||||
Investment income
|
|
$
|
8,711
|
|
|
$
|
7,551
|
|
|
$
|
1,160
|
|
|
15.4
|
|
Interest expense
|
|
(6,918
|
)
|
|
(7,343
|
)
|
|
425
|
|
|
5.8
|
|
|||
Foreign exchange loss, net
|
|
(11,957
|
)
|
|
(2,214
|
)
|
|
(9,743
|
)
|
|
(440.1
|
)
|
|||
Miscellaneous, net
|
|
(1,435
|
)
|
|
(1,098
|
)
|
|
(337
|
)
|
|
(30.7
|
)
|
|||
Other expense, net
|
|
$
|
(11,599
|
)
|
|
$
|
(3,104
|
)
|
|
$
|
(8,495
|
)
|
|
(273.7
|
)
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
||||||
Net income (loss)
|
|
$
|
4,876
|
|
|
$
|
(13,882
|
)
|
|
$
|
18,758
|
|
|
135.1
|
Percent of net sales
|
|
0.7
|
%
|
|
(2.2
|
)%
|
|
|
|
|
||||
Effective tax rate
|
|
58.3
|
%
|
|
18.4
|
%
|
|
|
|
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
||||||
North America:
|
|
|
|
|
|
|
|
|
||||||
Revenue
|
|
$
|
317,495
|
|
|
$
|
330,855
|
|
|
$
|
(13,360
|
)
|
|
(4.0)
|
Segment operating profit
|
|
58,230
|
|
|
46,077
|
|
|
12,153
|
|
|
26.4
|
|||
Segment operating profit margin
|
|
18.3
|
%
|
|
13.9
|
%
|
|
|
|
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
||||||
Asia Pacific:
|
|
|
|
|
|
|
|
|
||||||
Revenue
|
|
$
|
107,136
|
|
|
$
|
112,183
|
|
|
$
|
(5,047
|
)
|
|
(4.5)
|
Segment operating profit
|
|
16,779
|
|
|
13,707
|
|
|
3,072
|
|
|
22.4
|
|||
Segment operating profit margin
|
|
15.7
|
%
|
|
12.2
|
%
|
|
|
|
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
||||||
Europe, Middle East and Africa:
|
|
|
|
|
|
|
|
|
||||||
Revenue
|
|
$
|
84,114
|
|
|
$
|
66,068
|
|
|
$
|
18,046
|
|
|
27.3
|
Segment operating profit
|
|
11,336
|
|
|
4,292
|
|
|
7,044
|
|
|
164.1
|
|||
Segment operating profit margin
|
|
13.5
|
%
|
|
6.5
|
%
|
|
|
|
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
||||||
Latin America:
|
|
|
|
|
|
|
|
|
||||||
Revenue
|
|
$
|
48,950
|
|
|
$
|
45,692
|
|
|
$
|
3,258
|
|
|
7.1
|
Segment operating profit
|
|
1,536
|
|
|
5,270
|
|
|
(3,734
|
)
|
|
(70.9)
|
|||
Segment operating profit margin
|
|
3.1
|
%
|
|
11.5
|
%
|
|
|
|
|
|
|
2014
|
|
2013
|
|
$ Change
|
|
% Change
|
||||||
Brazil:
|
|
|
|
|
|
|
|
|
||||||
Revenue
|
|
$
|
130,598
|
|
|
$
|
78,713
|
|
|
$
|
51,885
|
|
|
65.9
|
Segment operating profit (loss)
|
|
9,992
|
|
|
(1,152
|
)
|
|
11,144
|
|
|
N/M
|
|||
Segment operating profit (loss) margin
|
|
7.7
|
%
|
|
(1.5
|
)%
|
|
|
|
|
|
|
March 31,
2014 |
|
December 31,
2013 |
||||
Cash and cash equivalents
|
|
$
|
217,198
|
|
|
$
|
230,709
|
|
Additional cash availability from:
|
|
|
|
|
||||
Short-term uncommitted lines of credit
|
|
33,288
|
|
|
63,747
|
|
||
Five-year credit facility
|
|
283,875
|
|
|
261,000
|
|
||
Short-term investments
|
|
209,017
|
|
|
242,988
|
|
||
Total global liquidity
|
|
$
|
743,378
|
|
|
$
|
798,444
|
|
Net cash flow provided by (used in):
|
|
2014
|
|
2013
|
||||
Operating activities
|
|
$
|
(31,556
|
)
|
|
$
|
(31,730
|
)
|
Investing activities
|
|
28,095
|
|
|
329
|
|
||
Financing activities
|
|
1,193
|
|
|
6,521
|
|
||
Effect of exchange rate changes on cash and cash equivalents
|
|
(11,243
|
)
|
|
(3,769
|
)
|
||
Net decrease in cash and cash equivalents
|
|
$
|
(13,511
|
)
|
|
$
|
(28,649
|
)
|
•
|
competitive pressures, including pricing pressures and technological developments;
|
•
|
changes in the Company's relationships with customers, suppliers, distributors and/or partners in its business ventures;
|
•
|
changes in political, economic or other factors such as currency exchange rates, inflation rates, recessionary or expansive trends, taxes and regulations and laws affecting the worldwide business in each of the Company's operations, including Brazil, where a significant portion of the Company's revenue is derived;
|
•
|
global economic conditions, including any additional deterioration and disruption in the financial markets, including the bankruptcies, restructurings or consolidations of financial institutions, which could reduce the Company's customer base and/or adversely affect its customers' ability to make capital expenditures, as well as adversely impact the availability and cost of credit;
|
•
|
acceptance of the Company's product and technology introductions in the marketplace;
|
•
|
the Company's ability to maintain effective internal controls;
|
•
|
changes in the Company's intention to further repatriate cash and cash equivalents and short-term investments residing in international tax jurisdictions could negatively impact foreign and domestic taxes;
|
•
|
unanticipated litigation, claims or assessments, as well as the outcome/impact of any current/pending litigation, claims or assessments, including with respect to the Company's Brazilian tax dispute;
|
•
|
variations in consumer demand for FSS technologies, products and services;
|
•
|
potential security violations to the Company's information technology systems;
|
•
|
the investment performance of the Company's pension plan assets, which could require the Company to increase its pension contributions, and significant changes in healthcare costs, including those that may result from government action;
|
•
|
the amount and timing of repurchases of the Company's common shares, if any;
|
•
|
the outcome of the Company's assessment of its indirect tax compliance in Brazil; and
|
•
|
the Company's ability to achieve benefits from its cost-reduction initiatives and other strategic changes, including its multi-year realignment plan and other restructuring actions, as well as its business process outsourcing initiative.
|
•
|
Conduct a review of account reconciliation processes to align those processes with system functionality to reduce the risk of future errors.
|
•
|
Conduct additional focused training on the Company’s account reconciliation policies and procedures to reinforce discipline and improve operating effectiveness.
|
Period
|
|
Total Number of
Shares
Purchased (1)
|
|
Average Price
Paid Per Share
|
|
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans (2)
|
|
Maximum Number
of Shares that
May Yet Be
Purchased Under
the Plans (2)
|
|||||
January
|
|
647
|
|
|
$
|
32.35
|
|
|
—
|
|
|
2,426,177
|
|
February
|
|
37,461
|
|
|
34.02
|
|
|
—
|
|
|
2,426,177
|
|
|
March
|
|
163
|
|
|
35.19
|
|
|
—
|
|
|
2,426,177
|
|
|
Total
|
|
38,271
|
|
|
$
|
—
|
|
|
—
|
|
|
|
(1)
|
All shares were surrendered or deemed surrendered to the Company in connection with the Company’s share-based compensation plans.
|
(2)
|
The total number of shares repurchased as part of the publicly announced share repurchase plan since its inception was
13,450,772
as of
March 31, 2014
. The plan was approved by the Board of Directors in 1997. The Company may purchase shares from time to time in open market purchases or privately negotiated transactions. The Company may make all or part of the purchases pursuant to accelerated share repurchases or Rule 10b5-1 plans. The plan has no expiration date. The following table provides a summary of Board of Directors approvals to repurchase the Company’s outstanding common shares:
|
|
Total Number of Shares
Approved for Repurchase
|
|
1997
|
2,000,000
|
|
2004
|
2,000,000
|
|
2005
|
6,000,000
|
|
2007
|
2,000,000
|
|
2011
|
1,876,949
|
|
2012
|
2,000,000
|
|
|
15,876,949
|
|
3.1(i)
|
|
Amended and Restated Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.1(i) to Registrant’s Annual Report on Form 10-K for the year ended December 31, 1994 (Commission File No. 1-4879)
|
|
|
|
3.1(ii)
|
|
Amended and Restated Code of Regulations – incorporated by reference to Exhibit 3.1(ii) to Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2007 (Commission File No. 1-4879)
|
|
|
|
3.2
|
|
Certificate of Amendment by Shareholders to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.2 to Registrant’s Form 10-Q for the quarter ended March 31, 1996 (Commission File No. 1-4879)
|
|
|
|
3.3
|
|
Certificate of Amendment to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.3 to Registrant’s Form 10-K for the year ended December 31, 1998 (Commission File No. 1-4879)
|
|
|
|
31.1
|
|
Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
31.2
|
|
Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
32.1
|
|
Certification of Principal Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350
|
|
|
|
32.2
|
|
Certification of Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
DIEBOLD, INCORPORATED
|
|
|
|
|
|
|
|
|
Date: May 5, 2014
|
|
By:
|
/s/ Andreas W. Mattes
|
|
|
|
Andreas W. Mattes
|
|
|
|
President and Chief Executive Officer
|
|
|
|
(Principal Executive Officer)
|
|
|
|
|
Date: May 5, 2014
|
|
By:
|
/s/ Christopher A. Chapman
|
|
|
|
Christopher A. Chapman
|
|
|
|
Vice President, Global Finance
|
|
|
|
(Principal Financial Officer)
|
|
|
|
|
EXHIBIT NO.
|
|
DOCUMENT DESCRIPTION
|
3.1(i)
|
|
Amended and Restated Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.1(i) to Registrant’s Annual Report on Form 10-K for the year ended December 31, 1994 (Commission File No. 1-4879)
|
|
|
|
3.1(ii)
|
|
Amended and Restated Code of Regulations – incorporated by reference to Exhibit 3.1(ii) to Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2007 (Commission File No. 1-4879)
|
|
|
|
3.2
|
|
Certificate of Amendment by Shareholders to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.2 to Registrant’s Form 10-Q for the quarter ended March 31, 1996 (Commission File No. 1-4879)
|
|
|
|
3.3
|
|
Certificate of Amendment to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.3 to Registrant’s Form 10-K for the year ended December 31, 1998 (Commission File No. 1-4879)
|
|
|
|
31.1
|
|
Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
31.2
|
|
Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
32.1
|
|
Certification of Principal Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350.
|
|
|
|
32.2
|
|
Certification of Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350.
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
No Customers Found
Suppliers
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|