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Stock Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2011
Stock Compensation Plans [Abstract]  
Stock Compensation
     2011      2010      2009  

Stock-based compensation expense

   $ 5,756       $ 4,916       $ 2,906   

Income tax benefits

     2,014         1,720         1,017   
Stock Options Activity
     2011     2010     2009  

Number of shares under stock options:

      

Options outstanding at beginning of year

     201,674        523,973        748,673   

Options granted

     —          —          —     

Options exercised

     (107,575     (101,649     (200,225

Options canceled

     (1,600     (220,650     (24,475
  

 

 

   

 

 

   

 

 

 

Options outstanding and exercisable at end of year

     92,499        201,674        523,973   
  

 

 

   

 

 

   

 

 

 

Weighted average exercise price:

      

Options exercised

   $ 12.25      $ 11.51      $ 13.83   

Options canceled

   $ 11.80      $ 22.60      $ 22.69   

Options outstanding and exercisable at end of year

   $ 10.69      $ 11.53      $ 16.30   

Cash received from options exercised (in thousands)

   $ 1,318      $ 2,179      $ 2,770   

Intrinsic value of options exercised (in thousands)

   $ 1,279      $ 1,006      $ 1,180   

Intrinsic value of options outstanding (in thousands)

   $ 1,393      $ 2,217      $ 2,774   
Options Outstanding And Exercisable

Exercise Prices

   Number
of Shares
     Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Life (in years)
 

$10.17

     80,499       $ 10.17         0.85   

$12.41

     6,000         12.41         1.35   

$15.88

     6,000         15.88         0.36   
  

 

 

       

Total

     92,499       $ 10.69         0.85   
  

 

 

       
Restricted Stock Activity
     2011     2010     2009  

Unvested shares at beginning of year

     84,134        71,904        55,939   

Shares granted

     50,618        43,800        44,400   

Shares cancelled

     (431     —          (10,000

Shares vested

     (40,839     (31,570     (18,435
  

 

 

   

 

 

   

 

 

 

Unvested shares at end of year

     93,482        84,134        71,904   
  

 

 

   

 

 

   

 

 

 

Weighted average fair value at grant date

   $ 23.06      $ 19.80      $ 18.18   

Unrecognized compensation expense at end of year (in thousands)

   $ 932      $ 735      $ 668   

Intrinsic value, unvested shares at end of year (in thousands)

   $ 2,407      $ 1,895      $ 1,552   

Intrinsic value, shares vested during the year (in thousands)

   $ 934      $ 682      $ 345   
Estimated Fair Value Of Performance Shares Granted
     2011     2010     2009  

Risk-free interest rate

     1.2     1.4     1.3

Expected life, in years

     3        3        3   

Expected volatility

     26.9     27.8     25.8

Dividend yield

     4.7     4.6     3.6

Weighted average grant date fair value (per share)

   $ 20.79      $ 15.30      $ 17.22   
Performance Share Activity
     2011     2010     2009  

Opening balance of unvested performance shares

     325,700        300,601        252,923   

Performance shares granted

     184,600        168,700        163,900   

Performance shares canceled

     (2,177     —          (43,758

Performance shares vested

     (156,778     (143,601     (72,464
  

 

 

   

 

 

   

 

 

 

Ending balance of unvested performance shares

     351,345        325,700        300,601   
  

 

 

   

 

 

   

 

 

 

Intrinsic value of unvested performance shares (in thousands).

   $ 9,047      $ 7,335      $ 6,490   

Unrecognized compensation expense (in thousands)

   $ 2,991      $ 2,330      $ 2,453   
Impact Of The Market Condition On The Vested Performance Shares
     2011     2010      2009  

Performance shares vested

     156,778        143,601         72,464   

Impact of market condition on shares vested

     (15,678     21,540         (72,464
  

 

 

   

 

 

    

 

 

 

Shares of common stock earned

     141,100        165,141         —     
  

 

 

   

 

 

    

 

 

 

Intrinsic value of common stock earned (in thousands)

   $ 3,633      $ 3,719       $ —     
Common Stock Repurchased
     2011      2010      2009  

Stock repurchased from Ecova employees

   $ 464       $ 2,593       $ 4,725