Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Stock-Based Compensation [Abstract]

Summary of assumptions used to estimate fair value of each SAR

The fair value of each SAR is estimated on the date of grant using a Black-Scholes option-pricing formula. For SARs issued in the nine months ended September 30, 2012 and 2011, respectively, the assumptions shown in the following table were used:

	Nine Months Ended September 30,
	2012			2011
Weighted-average fair value of grants	$	14.11		$	14.33
Dividend yield		0	%		0	%
Average risk-free interest rate		0.8	%		2.0	%
Expected term (years)		5			5
Expected volatility		66	%		65	%

Summary of stock-based compensation grants

The following table summarizes the Company’s stock-based compensation grants for the nine months ended September 30, 2012:

	Stock Awards Granted		Weighted-Average Grant  Price Per Share
Stock appreciation rights		100,740	$	25.73
Restricted stock		156,832	$	27.18

Summary of stock-based compensation expense

The following table summarizes the Company’s stock-based compensation expense for the three and nine months ended September 30, 2012 and 2011 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Stock appreciation rights	$	369	$	408	$	1,089	$	1,146
Restricted stock		508		391		1,442		1,198
Employee stock purchase plan		13		10		52		46
Total stock-based compensation	$	890	$	809	$	2,583	$	2,390