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Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2012
Share-Based Compensation  
Schedule of information with respect to share-based compensation

 

 

 

 

For the Three
Months Ended
June 30,

 

For the Six
Months Ended
June 30,

 

(in millions)

 

2012

 

2011

 

2012

 

2011

 

Total share-based compensation expense included in net income

 

$

4.2

 

$

4.1

 

$

8.5

 

$

7.4

 

Income tax benefit related to share-based compensation included in net income

 

$

1.2

 

$

1.4

 

$

2.6

 

$

2.5

 

 

Schedule of valuation assumptions for stock options

 

 

 

 

For the Six Months Ended

 

 

 

June 30,
2012

 

June 30,
2011

 

Expected life (in years)

 

5.8

 

5.8

 

Risk-free interest rate

 

1.07

%

2.76

%

Expected volatility

 

33.33

%

32.71

%

Expected dividend yield

 

1.18

%

1.17

%

 

Schedule of stock option activity

 

 

(dollars and shares in thousands)

 

Number of
Options

 

Weighted
Average
Exercise
Price

 

Average
Remaining
Contractual
Term (Years)

 

Aggregate
Intrinsic
Value

 

Outstanding at December 31, 2011

 

4,030

 

$

30.29

 

 

 

 

 

Granted

 

460

 

55.96

 

 

 

 

 

Exercised

 

(467

)

26.35

 

 

 

 

 

Cancelled

 

(18

)

40.07

 

 

 

 

 

Outstanding at June 30, 2012

 

4,005

 

33.65

 

6.09

 

$

66,503

 

 

 

 

 

 

 

 

 

 

 

Exercisable at June 30, 2012

 

3,038

 

29.34

 

5.21

 

$

61,327

 

 

Schedule of additional information pertaining to stock option activity

 

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

(dollars in thousands, except per share)

 

2012

 

2011

 

2012

 

2011

 

Weighted average grant date fair value of stock options granted (per share)

 

$

16.56

 

$

16.65

 

$

16.16

 

$

15.17

 

Total intrinsic value of stock options exercised

 

$

3,058

 

$

9,521

 

$

14,055

 

$

15,181

 

 

Schedule of restricted share and restricted stock unit activity

 

 

 

 

Restricted Shares

 

Restricted Units

 

(in thousands except per share)

 

Number of
Restricted
Shares

 

Weighted
Average
Fair Value

 

Number of
Restricted
Units

 

Weighted
Average
Fair Value

 

Non-vested at December 31, 2011

 

136

 

$

30.69

 

235

 

$

44.24

 

Granted

 

 

 

162

 

55.96

 

Vested

 

(34

)

33.61

 

(9

)

36.77

 

Cancelled

 

(4

)

25.58

 

(6

)

46.60

 

Non-vested at June 30, 2012

 

98

 

29.87

 

382

 

49.56