Share-Based Compensation

9 Months Ended

Sep. 30, 2011

Share-Based Compensation [Abstract]

SHARE-BASED COMPENSATION

NOTE 4: SHARE-BASED COMPENSATION

The Company’s share-based compensation payments to employees are recognized in the statement of income 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 for the three and nine months ended September 30, 2011 was $3,889 and $10,506, respectively. Total share-based compensation expense for the three and nine months ended September 30, 2010 was $3,155 and $9,520, respectively.

Options outstanding and exercisable as of September 30, 2011 under the Company’s 1991 Equity and Performance Incentive Plan (as Amended and Restated as of April 13, 2009) and changes during the nine months ended September 30, 2011, 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		(226	)		35.56
Exercised		(148	)		27.06
Granted		436			33.15
Outstanding at September 30, 2011		3,214		$	36.68		5	$	1,430
Options exercisable at September 30, 2011		2,163		$	39.90		3	$	815
Options vested and expected to vest (2) at September 30, 2011		3,189		$	36.74		5	$	1,416

(1) The aggregate intrinsic value (the difference between the closing price of the Company’s common shares on the last trading day of the third quarter of 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 September 30, 2011. 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 tables summarize information on non-vested RSUs, performance shares and deferred shares for the nine months ended September 30, 2011:

	Number of Shares			Weighted-Average Grant-Date Fair Value
	(in thousands)
RSUs:
Non-vested at January 1, 2011		594		$	29.06
Forfeited		(39	)		44.11
Vested		(113	)		28.11
Granted		281			32.89
Non-vested at September 30, 2011		723		$	30.65
Performance Shares (1):
Non-vested at January 1, 2011		742		$	31.15
Forfeited		(84	)		30.18
Vested		(176	)		29.00
Granted		246			39.77
Non-vested at September 30, 2011		728		$	34.71
Director Deferred Shares:
Non-vested at January 1, 2011		14		$	33.28
Vested		(14	)		33.28
Granted		31			33.98
Non-vested at September 30, 2011		31		$	33.98
Vested at September 30, 2011		83		$	33.87
Outstanding at September 30, 2011		114		$	33.90

(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.