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INCENTIVE PLANS (Tables)
12 Months Ended
Dec. 31, 2013
INCENTIVE PLANS [Abstract]  
Summary of Activity For Nonvested Performance Share Units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Target

 

 

Weighted-average

 

 

 

 

Number

 

 

Grant Date

 

 

 

 

of Shares

 

 

Fair Value

 

Performance Shares

 

 

 

 

 

Nonvested at January 1, 2013

836,366 

 

 

$             43.21 

 

Granted

310,610 

 

 

53.65 

 

Vested

 

 

0.00 

 

Canceled/forfeited

(26,780)

 

 

45.91 

 

Nonvested at December 31, 2013

1,120,196 

 

 

$             46.03 

 

 

Aggregate Value of Performance Shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in thousands

2013 

 

 

2012 

 

 

2011 

 

Aggregate value of distributed

 

 

 

 

 

 

 

 

 performance shares

$        9,286 

 

 

$           493 

 

 

$        2,548 

 

 

Weighted-Average Fair Value And Weighted-Average Assumptions Used In Estimating Fair Value of Grants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013 

 

 

2012 

 

1

2011 

 

SOSARs

 

 

 

 

 

 

 

 

Fair value

$        16.96 

 

 

N/A

 

 

$        10.51 

 

Risk-free interest rate

1.40% 

 

 

N/A

 

 

2.27% 

 

Dividend yield

1.72% 

 

 

N/A

 

 

1.95% 

 

Volatility

33.00% 

 

 

N/A

 

 

31.57% 

 

Expected term

8.00 years

 

 

N/A

 

 

7.75 years

 

 

 

 

1

No SOSARs were granted in 2012.

 

Summary of Our Stock Option/Sosar Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

Aggregate

 

 

 

 

Number

 

 

Weighted-average

 

 

Contractual

 

 

Intrinsic Value

 

 

 

 

of Shares

 

 

Exercise Price

 

 

Life (Years)

 

 

(in thousands)

 

Stock Options/SOSARs

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2013

5,390,607 

 

 

$             57.73 

 

 

 

 

 

 

 

Granted

247,790 

 

 

55.39 

 

 

 

 

 

 

 

Exercised

(419,045)

 

 

45.68 

 

 

 

 

 

 

 

Forfeited or expired

(20,606)

 

 

57.98 

 

 

 

 

 

 

 

Outstanding at December 31, 2013

5,198,746 

 

 

$             58.59 

 

 

4.09 

 

 

$           39,799 

 

Vested and expected to vest

5,159,177 

 

 

$             58.71 

 

 

4.06 

 

 

$           39,134 

 

Exercisable at December 31, 2013

4,747,470 

 

 

$             59.64 

 

 

3.69 

 

 

$           34,520 

 

 

Aggregate Intrinsic Values of Options Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in thousands

2013 

 

 

2012 

 

 

2011 

 

Aggregate intrinsic value of options/

 

 

 

 

 

 

 

 

 SOSARs exercised

$        4,563 

 

 

$        5,674 

 

 

$           164 

 

 

Cash and Stock Consideration Received and Tax Benefit Realized from Stock Option/Sosar Exercises and Compensation Cost Recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in thousands

2013 

 

 

2012 

 

 

2011 

 

Stock Options/SOSARs

 

 

 

 

 

 

 

 

Cash and stock consideration received

 

 

 

 

 

 

 

 

 from exercises

$       17,156 

 

 

$       15,787 

 

 

$         3,596 

 

Tax benefit from exercises

1,770 

 

 

2,202 

 

 

66 

 

Compensation cost

3,936 

 

 

2,966 

 

 

7,968