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Share-Based Compensation and Equity (Tables)
 12 Months Ended
Dec. 31, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan
The following table summarizes the components of the Company’s employee and non-employee share-based compensation programs recognized as selling and administrative expense for the years ended December 31:
 
 
2011
 
2010
 
2009
Stock options:
 
 
 
 
 
 
     Pre-tax compensation expense
 
$
3,486

 
$
3,540

 
$
3,127

     Tax benefit
 
(1,238
)
 
(1,310
)
 
(1,157
)
Stock option expense, net of tax
 
$
2,248

 
$
2,230

 
$
1,970

 
 
 
 
 
 
 
Restricted Stock Units:
 
 
 
 
 
 
     Pre-tax compensation expense
 
$
5,734

 
$
4,355

 
$
3,775

     Tax benefit
 
(1,845
)
 
(1,611
)
 
(1,397
)
RSU expense, net of tax
 
$
3,889

 
$
2,744

 
$
2,378

 
 
 
 
 
 
 
Performance shares:
 
 
 
 
 
 
     Pre-tax compensation expense
 
$
4,076

 
$
3,820

 
$
4,192

     Tax benefit
 
(1,459
)
 
(1,413
)
 
(1,551
)
Performance share expense, net of tax
 
$
2,617

 
$
2,407

 
$
2,641

 
 
 
 
 
 
 
Deferred shares:
 
 
 
 
 
 
     Pre-tax compensation expense
 
$
1,000

 
$
826

 
$
816

     Tax benefit
 
(370
)
 
(306
)
 
(302
)
Deferred share expense, net of tax
 
$
630

 
$
520

 
$
514

 
 
 
 
 
 
 
 Total share-based compensation:
 
 
 
 
 
 
     Pre-tax compensation expense
 
$
14,296

 
$
12,541

 
$
11,910

     Tax benefit
 
(4,912
)
 
(4,640
)
 
(4,407
)
 Total share-based compensation, net of tax
 
$
9,384

 
$
7,901

 
$
7,503
Schedule of Unrecognized Compensation Cost, Nonvested Awards

The following table summarizes information related to unrecognized share-based compensation costs as of December 31, 2011:
 
 
Unrecognized
Cost
 
Weighted-Average Period
 
 
 
 
(years)
Stock options
 
$
6,463

 
2.2
RSUs
 
9,646

 
1.7
Performance shares
 
4,749

 
1.0
Deferred shares
 
206

 
0.3
 
 
$
21,064

 
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The estimated fair value of the options granted was calculated using a Black-Scholes option pricing model using the following assumptions:
 
2011
 
2010
 
2009
Expected life (in years)
6-7

 
6-7

 
5-6

Weighted-average volatility
40
%
 
40
%
 
40
%
Risk-free interest rate
1.15 - 3.05%

 
2.77 - 3.15%

 
1.76 - 2.55%

Expected dividend yield
2.74 - 2.97%

 
2.44 - 2.63%

 
2.23 - 2.43%
Options outstanding and exercisable under the Company's 1991 Equity and Performance Incentive Plan
Options outstanding and exercisable as of December 31, 2011 and changes during the year ended were as follows:
 
Number of Shares
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term
 
Aggregate Intrinsic Value (1)
 
(in thousands)
 
(per share)
 
(in years)
 
 
Outstanding at January 1, 2011
3,152

 
$
36.67

 
 
 
 
Expired or forfeited
(239
)
 
35.46

 
 
 
 
Exercised
(150
)
 
33.30

 
 
 
 
Granted
438

 
33.06

 
 
 
 
Outstanding at December 31, 2011
3,201

 
$
36.70

 
5
 
$
3,805

Options exercisable at December 31, 2011
2,166

 
$
39.86

 
3
 
$
1,940

Options vested and expected to vest (2) at
December 31, 2011
3,177

 
$
36.75

 
5
 
$
3,760



(1)
The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company’s closing share price on the last trading day of the year in 2011 and the exercise price, multiplied by the number of “in-the-money” options) that would have been received by the option holders had all option holders exercised their options on December 31, 2011. The amount of aggregate intrinsic value will change based on the fair market value of the Company’s common shares.
(2)
The expected to vest options are the result of applying the pre-vesting forfeiture rate assumption to total outstanding non-vested options.
Summarized information on unvested restricted stock units (RSUs), performance shares and deferred shares
Non-vested performance shares outstanding as of December 31, 2011 and changes during the year ended were as follows:
 
 
Number of
Shares
 
Weighted-Average
Grant-Date
Fair Value
 
 
(in thousands)
 
 
Non-vested at January 1, 2011
 
742

 
$
31.15

Forfeited
 
(89
)
 
30.12

Vested
 
(174
)
 
29.04

Granted
 
248

 
39.74

Non-vested at December 31, 2011
 
727

 
$
34.70

Non-vested deferred shares as of December 31, 2011 and changes during the year ended were as follows:
 
 
Number of
Shares
 
Weighted-Average
Grant-Date
Fair Value
 
 
(in thousands)
 
 
Non-vested at January 1, 2011
 
14

 
$
33.28

Vested
 
(26
)
 
33.61

Granted
 
31

 
33.98

Non-vested at December 31, 2011
 
19

 
$
33.98

Vested at December 31, 2011
 
96

 
$
33.88

Outstanding at December 31, 2011
 
115

 
$
33.90

Non-vested RSUs outstanding as of December 31, 2011 and changes during the year ended were as follows:
 
 
Number of
Shares
 
Weighted-Average
Grant-Date
Fair Value
 
 
(in thousands)
 
 
Non-vested at January 1, 2011
 
594

 
$
29.06

Forfeited
 
(48
)
 
41.09

Vested
 
(115
)
 
28.10

Granted
 
286

 
32.86

Non-vested at December 31, 2011
 
717

 
$
30.69