Subsequent Events

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

L. Subsequent Events

On August 6, 2013, the Board of Directors increased its regular quarterly dividend by 20% to $0.06 per share to all of its shareholders, payable on September 24, 2013 to shareholders of record on September 10, 2013.

On August 6, 2013, the Company issued 431,700 RSAs to its professional staff at a grant date fair value of $57.86 per share.  The RSAs were recommended by the Company's Chairman, who did not receive an RSA, and approved by the Compensation Committee of the Company's Board of Directors.  The Company expects that the additional expense related to this grant will be $20.6 million.  This expense, which is net of estimated forfeitures, will be recognized over the vesting period for these awards which is 30% over three years from the date of grant and the remaining 70% ratably on each anniversary of the date of grant from the fourth anniversary through the tenth anniversary.  The portion of expense to be incurred in 2013 is estimated to be $1.8 million.