Stock-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following is a summary of restricted stock activity for the six months ended June 30, 2013:



(in thousands, except for per share amounts)	Shares		Weighted Average Grant Date Fair Value /Share
Outstanding at January 1, 2013	1,588		$	26.92
Granted	481		$	27.47
Vested	(261	)	$	29.48
Forfeited	(36	)	$	28.39
Outstanding at June 30, 2013	1,772		$	26.64

Summary of performance based share grants

The following is a summary of performance-based share grants for the six months ended June 30, 2013:



(in thousands, except for per share amounts)	Shares	Weighted Average Grant Date Fair Value /Share
Outstanding at January 1, 2013	—	$	—
Granted	119	$	27.49
Vested	—	$	—
Forfeited	—	$	—
Outstanding at June 30, 2013	119	$	27.49

Summary of the changes in outstanding stock options

The following is a summary of the changes in outstanding stock options for the six months ended June 30, 2013:



(in thousands, except for per share amounts)	Shares		Weighted Average Exercise Price /Share		Weighted Average Remaining Contractual Term (Years)
Outstanding at January 1, 2013	4,083		$	26.46	6.4
Granted	813		$	27.43	10.0
Exercised	(62	)	$	21.00	2.5
Forfeited	(187	)	$	29.33	0.4
Outstanding at June 30, 2013	4,647		$	26.54	6.8
Options exercisable at June 30, 2013	2,249		$	26.29	4.7

Weighted-average assumptions for annual March 2012 grants

The fair value of each option grant was estimated on the date of grant using the binomial lattice pricing model which incorporates multiple and variable assumptions over time, including assumptions such as employee exercise patterns, stock price volatility and changes in dividends. The following are weighted-average assumptions for our annual March grants in 2013.



Dividend yield	1.69%
Volatility	31.10%
Risk-free interest rate	1.27%
Expected term (in years)	6.63
Weighted-average fair value / share	$7.58