Stock Plans (Tables)

12 Months Ended

Dec. 31, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Weighted Average for Key Assumptions in Determining Fair Value of Options Granted

The weighted average for key assumptions used in determining the fair value of options granted in the period ended December 31 are as follows:


	2013		2012			2011
Expected volatility		N/A		70.6	%		68.2	%
Weighted-average expected volatility		N/A		70.6	%		68.2	%
Expected dividends		N/A		—			—
Expected term (in years)		N/A		5.2			5.1
Risk-free rate		N/A		0.9	%		2.1	%

Share Based Compensation Activity

A summary of stock option activity under the Company’s equity incentive plans as of December 31, 2013 and changes during the year ended December 31, 2013 is presented below:


Stock Options	Number of Shares			Weighted Average Exercise Price
Outstanding at January 1, 2013		1,175,646		$	26.02
Granted		—			—
Exercised		(222,185	)		23.82
Canceled		(81,412	)		32.55

Outstanding at December 31, 2013		872,049			25.99

Exercisable at December 31, 2013		664,627			26.70

A summary of the status of the Company’s Restricted Stock Awards as of December 31, 2013 and changes during the year ended December 31, 2013, is presented below:


Restricted Stock Awards	Shares			Weighted Average Grant-Date Fair Value



Nonvested shares at January 1, 2013		574,933		$	31.49
Granted (1)		202,528			43.56
Vested		(72,166	)		24.99
Canceled		(95,068	)		27.72

Nonvested shares at December 31, 2013		610,227			34.20

(1)

As a result of the Company’s payment of regular dividends during 2013, the Company awarded approximately 10,000 additional restricted stock units as an adjustment to outstanding restricted stock units. The additional restricted stock units are not included in the calculation of the weighted average grant-date fair value of awards granted in 2013.

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details