Share Based Arrangements

6 Months Ended

Jul. 01, 2011

SHARE BASED ARRANGEMENTS [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments

SHARE-BASED ARRANGEMENTS

Stock Plan Activity

The following table summarizes share-based compensation expense recorded during each period presented (in thousands):

	For the three months ended					For the six months ended
	July 1, 2011		July 2, 2010			July 1, 2011		July 2, 2010
Stock options	$	360	$	295		$	1,034	$	856
Restricted stock awards	2,381		960			3,285		1,690
Stock appreciation rights	48		(57		)	179		(26		)
Employee stock purchase plan	81		67			157		134
Total share-based compensation	$	2,870	$	1,265		$	4,655	$	2,654

13. SHARE-BASED ARRANGEMENTS (CONTINUED)

Stock Plan Activity - Continued

Stock option activity was as follows:

	For the three months ended				For the six months ended
	July 1, 2011				July 1, 2011
	Stock Options		Weighted-average exercise price		Stock Options		Weighted-average exercise price
Stock Options outstanding at beginning of period	1,101,183		$	22.79	985,079		$	20.81
Granted	—		—		183,815		31.78
Exercised	(100,178	)	17.85		(157,125	)	17.96
Forfeited or expired	—		—		(10,764	)	19.61
Stock Options outstanding at July 1, 2011	1,001,005		$	23.29	1,001,005		$	23.29

The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. The following table indicates the weighted-average assumptions used in estimating fair value:

	For the three months ended						For the six months ended
	July 1, 2011			July 2, 2010			July 1, 2011			July 2, 2010
Expected option term	—			—			6.5 years			6.5 years
Expected volatility	—		%	—		%	43.9		%	46.1		%
Risk-free interest rate	—		%	—		%	2.9		%	3.2		%
Expected dividend yield	—		%	—		%	2.2		%	3.3		%
Per share fair value of options granted	$	—		$	—		$	12.05		$	9.28

There were no stock options granted during the three months ended July 1, 2011 and July 2, 2010.

Restricted Stock activity was as follows:

	For the three months ended				For the six months ended
	July 1, 2011				July 1, 2011
	Restricted Stock Awards		Weighted-average grant date fair value		Restricted Stock Awards		Weighted-average grant date fair value
Restricted  Stock outstanding at beginning of period	353,285		$	25.53	287,761		$	22.84
Granted	49,734		34.87		170,934		31.94
Vested	(65,100	)	31.61		(119,394	)	27.67
Forfeited or expired	—		—		(1,382	)	24.56
Restricted Stock outstanding at July 1, 2011	337,919		$	25.73	337,919		$	25.73

13. SHARE-BASED ARRANGEMENTS (CONTINUED)

Stock Plan Activity - Continued

Stock Appreciation Rights (“SARs”) activity was as follows:

	For the three months ended				For the six months ended
	July 1, 2011				July 1, 2011
	Stock Appreciation Rights (SARs)		Weighted-average exercise price		Stock Appreciation Rights (SARs)		Weighted-average exercise price
SARs outstanding at beginning of period	21,700		$	10.66	21,700		$	10.66
Granted	—		—		—		—
Exercised	(21,700	)	10.66		(21,700	)	10.66
Forfeited or expired	—		—		—		—
SARs outstanding at July 1, 2011	—		$	—	—		$	—

The Company made payments of $0.6 million to settle stock appreciation rights (at intrinsic value) during the three months and six months ended July 1, 2011. No cash was paid to settle stock appreciation rights during the three months and six months ended July 2, 2010.