STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of performance shares awarded and estimated fair value of the awards at grant date

Year	Performance	Estimated
Awarded	Shares	Fair Value
		(Dollars In Thousands)
2012	306,100	$	8,608
2011	191,100	5,433
2010	—	—

Schedule of the SARs activity as well as weighted-average base price

	Weighted-Average
	Base Price per share		No. of SARs
Balance at December 31, 2009	$	22.28	2,469,202
SARs granted	18.34		344,400
SARs exercised / forfeited	20.98		(488,765	)
Balance at December 31, 2010	$	21.97	2,324,837
SARs exercised / forfeited	8.31		(50,608	)
Balance at December 31, 2011	$	22.27	2,274,229
SARs exercised / forfeited / expired	22.60		(633,062	)
Balance at December 31, 2012	$	22.15	1,641,167

Schedule of equity compensation plans

						Number of securities
						remaining available
						for future issuance
	Number of securities					under equity
	to be issued upon		Weighted-average			compensation plans
	exercise of		exercise price of			(excluding securities
	outstanding options,		outstanding options,			reflected in
	warrants and rights as		warrants and rights as			column (a)) as of
Plan category	of December 31, 2012 (a)		of December 31, 2012 (b)			of December 31, 2012 (c)
Equity compensation plans approved by shareowners	2,702,768	(1)	$	22.15	(3)	4,530,673	(4)
Equity compensation plans not approved by shareowners	318,421	(2)	Not applicable			Not applicable	(5)
Total	3,021,189		$	22.15		4,530,673

(1) Includes the following number of shares: (a) 1,066,759 shares issuable with respect to outstanding SARs (assuming for this purpose that one share of PLC common stock will be payable with respect to each outstanding SAR); (b) 602,160 shares issuable with respect to outstanding performance share awards (assuming for this purpose that the awards are payable based on estimated performance under the awards as of September 30, 2012); (c) 646,632 shares issuable with respect to outstanding restricted stock units (assuming for this purpose that shares will be payable with respect to all outstanding restricted stock units); (d) 319,555 shares issuable with respect to stock equivalents representing previously earned awards under the LTIP that the recipient deferred under PLC’s Deferred Compensation Plan for Officers; and (e) 67,662 shares issuable with respect to stock equivalents representing previous awards under PLC’s Stock Plan for Non-Employee Directors that the recipient deferred under PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of PLC.

(2) Includes the following number of PLC’s shares of common stock: (a) 216,103 shares issuable with respect to stock equivalents representing (i) stock awards to PLC’s Directors before June 1, 2004 that the recipient deferred pursuant to PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of the Company and (ii) cash retainers and fees that PLC’s Directors deferred under PLC’s Deferred Compensation Plan for Directors Who Are Not Employees of PLC, and (b) 102,318 shares issuable with respect to stock equivalents pursuant to PLC’s Deferred Compensation Plan for Officers.

(3) Based on exercise prices of outstanding SARs.

(4) Represents shares of PLC’s common stock available for future issuance under the LTIP and the Company’s Stock Plan for Non-Employee Directors.

(5) The plans listed in Note (2) do not currently have limits on the number of PLC’s shares of common stock issuable under such plans. The total number of PLC’s shares of common stock that may be issuable under such plans will depend upon, among other factors, the deferral elections made by the plans’ participants.

Schedule of outstanding SARs by base prices

The outstanding SARs as of December 31, 2012, were at the following base prices:

		SARs	Remaining Life	Currently
Base Price		Outstanding	in Years	Exercisable
$	26.49	50,000	1	50,000
$	41.05	106,700	3	106,700
$	48.60	38,400	4	38,400
$	45.70	35,070	4	35,070
$	43.46	181,550	5	181,550
$	48.05	3,000	5	3,000
$	41.12	2,500	5	2,500
$	38.59	303,100	6	303,100
$	3.50	629,608	7	629,608
$	17.48	8,000	8	5,333
$	18.36	283,239	8	181,888