Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [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, 2013 and 2012, respectively, the assumptions shown in the following table were used:

	Nine Months Ended September 30,
	2013			2012
Weighted-average fair value of grants	$	23.35		$	14.11
Dividend yield		0	%		0	%
Average risk-free interest rate		0.7	%		0.8	%
Expected term (years)		5			5
Expected volatility		64	%		66	%

Summary of Stock-Based Compensation Grants

The following table summarizes the Company’s stock-based compensation grants for the nine months ended September 30, 2013:

	Stock Awards Granted		Weighted-Average Grant Price Per Share
Stock appreciation rights		60,444	$	43.88
Restricted stock		46,945	$	44.41

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, 2013 and 2012 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Stock appreciation rights	$	307	$	369	$	945	$	1,089
Restricted stock		667		508		1,790		1,442
Employee stock purchase plan		10		13		46		52
Total stock-based compensation	$	984	$	890	$	2,781	$	2,583