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Share-Based Compensation
 6 Months Ended
Jun. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION
The Company’s share-based compensation payments to employees are recognized based on their grant-date fair values during the period in which the employee is required to provide services in exchange for the award. Share-based compensation is recognized as a component of selling and administrative expense. Total share-based compensation expense was $3,284 and $1,907 for the three months ended June 30, 2013 and 2012, respectively, and $10,470 and $5,704 for the six months ended June 30, 2013 and 2012, respectively. Share-based compensation expense for the six months ended June 30, 2013 included accelerated expense of $2,982 related to executive severance.

Options outstanding and exercisable as of June 30, 2013 under the Company’s 1991 Equity and Performance Incentive Plan (as Amended and Restated as of April 13, 2009) and changes during the six months ended June 30, 2013, 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, 2013
 
2,668

 
$
37.56

 
 
 
 
Expired or forfeited
 
(277
)
 
36.47

 
 
 
 
Exercised
 
(372
)
 
26.45

 

 
 
Granted
 
338

 
30.46

 
 
 
 
Outstanding at June 30, 2013
 
2,357

 
$
38.42

 
5
 
$
3,145

Options exercisable at June 30, 2013
 
1,675

 
$
40.97

 
4
 
$
1,775

Options vested and expected to vest at June 30, 2013
 
2,327

 
$
38.50

 
5
 
$
3,075

(1)
The aggregate intrinsic value (the difference between the closing price of the Company’s common shares on the last trading day of the second quarter of 2013 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 June 30, 2013. The amount of aggregate intrinsic value will change based on the fair market value of the Company’s common shares.
(2)
The options expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding non-vested options.

The following table summarizes information on non-vested RSUs, performance shares and deferred shares for the six months ended June 30, 2013:
 
 
Number of
Shares
 
Weighted-Average
Grant-Date Fair
Value
 
 
(in thousands)
 
 
RSUs:
 
 
 
 
Non-Vested at January 1, 2013
 
732

 
$
33.33

Forfeited
 
(94
)
 
33.94

Vested
 
(248
)
 
32.74

Granted
 
226

 
30.04

Non-Vested at June 30, 2013
 
616

 
$
32.30

Performance Shares (1):
 
 
 
 
Non-Vested at January 1, 2013
 
729

 
$
40.41

Forfeited
 
(328
)
 
38.00

Vested
 
(31
)
 
35.49

Granted
 
277

 
29.15

Non-Vested at June 30, 2013
 
647

 
$
37.04

Director Deferred Shares:
 
 
 
 
Non-Vested at January 1, 2013
 
20

 
$
40.54

Forfeited
 
(3
)
 
40.54

Vested
 
(17
)
 
40.54

Granted
 
31

 
29.73

Non-Vested at June 30, 2013
 
31

 
$
29.73

Vested at June 30, 2013
 
103

 
$
35.54

Outstanding at June 30, 2013
 
134

 
$
34.20

(1)
Non-vested performance shares are based on a maximum potential payout. Actual shares granted at the end of the performance period may be less than the maximum potential payout level depending on achievement of performance share objectives.