XML 35 R18.htm IDEA: XBRL DOCUMENT v2.4.0.6
Equity-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2012
Details of Compensation Expense
The following table details our compensation expense for the quarters and nine months ended September 30:
 
 
Quarter Ended
 
Nine Months Ended
 
September 30,
 
September 30,
(Dollars in thousands)
2012
 
2011
 
2012
 
2011
Employee equity-based compensation expense:
 
 
 
 
 
 
 
Performance shares
$
891

 
$
942

 
$
2,598

 
$
2,707

Restricted stock units
168

 
155

 
459

 
437

Total employee equity-based compensation expense
$
1,059

 
$
1,097

 
$
3,057

 
$
3,144

Related net income tax benefit
$

 
$

 
$

 
$

 
 
 
 
 
 
 
 
Director deferred compensation expense (income)
$
1,126

 
$
(373
)
 
$
1,553

 
$
484

Summary of Outstanding Stock Options
The following table summarizes outstanding stock options as of September 30, 2012 and changes during the nine months ended September 30, 2012:
 
(Dollars in thousands, except exercise prices)
Shares
 
Weighted Avg.
Exercise Price
 
Aggregate
Intrinsic Value
Outstanding at January 1
144,684

 
$
23.34

 
 
Shares exercised
(40,830
)
 
16.63

 
$
679

Shares canceled or expired

 

 
 
Outstanding and exercisable at September 30
103,854

 
25.68

 
1,214

Summary of Outstanding Stock Options by Exercise Price Range
The following table summarizes outstanding stock options as of September 30, 2012:
 
 
Options Outstanding and Exercisable
Range of Exercise Prices
Outstanding
 
Weighted Avg.
Remaining
Contractual Life
 
Weighted Avg.
Exercise Price
$14.4398
11,545

 
0.17 years
 
$
14.44

$19.2569
30,340

 
1.17 years
 
19.26

$30.9204
61,969

 
2.17 years
 
30.92

$14.4398 to $30.9204
103,854

 
1.66 years
 
25.68

Fair Value of Performance Share Awards
The following table presents the key inputs used in the Monte Carlo simulation method to calculate the fair value of the performance share awards in 2012 and 2011, and the resulting fair values:
 
 
2012
 
2011
Shares granted
85,028

 
77,767

Stock price as of valuation date
$
31.11

 
$
39.10

Risk-free rate
0.40
%
 
1.26
%
Fair value of a performance share
$
34.24

 
$
55.84

Summary of Outstanding Performance Share Awards
The following table summarizes outstanding performance share awards as of September 30, 2012, and changes during the nine months ended September 30, 2012:
 
(Dollars in thousands, except grant date fair value)
Shares
 
Weighted Avg.
Grant Date
Fair Value
 
Aggregate
Intrinsic Value
Unvested shares outstanding at January 1
154,594

 
$
50.54

 
 
Granted
85,028

 
34.24

 
 
Forfeited
(2,596
)
 
44.99

 
 
Unvested shares outstanding at September 30
237,026

 
44.76

 
$
8,657

Summary of Outstanding RSU Awards
The following table summarizes outstanding RSU awards as of September 30, 2012, and changes during the nine months ended September 30, 2012:
 
(Dollars in thousands, except grant date fair value)
Shares
 
Weighted Avg.
Grant Date
Fair Value
 
Aggregate
Intrinsic Value
Unvested shares outstanding at January 1
36,359

 
$
35.60

 
 
Granted
19,725

 
31.38

 
 
Vested
(1,290
)
 
33.27

 
 
Forfeited
(1,504
)
 
33.36

 
 
Unvested shares outstanding at September 30
53,290

 
34.16

 
$
1,991