Share-Based Arrangements

6 Months Ended

Jun. 29, 2012

SHARE BASED ARRANGEMENTS [Abstract]

Share-based Arrangements

SHARE-BASED ARRANGEMENTS

General

The Company accounts for stock options and restricted stock as equity awards whereas the stock appreciation rights and employee stock purchase plan are accounted for as liability awards. Compensation expense for stock options and restricted stock awards is recognized on a straight-line basis over the vesting period of the awards.

The following table summarizes share-based compensation expense recorded during each period presented:

	For the Three Months Ended				For the Six Months Ended
	June 29, 2012		July 1, 2011		June 29, 2012		July 1, 2011
In thousands
Stock options	$	417	$	360	$	1,071	$	1,034
Restricted stock awards	1,357		2,381		2,297		3,285
Stock appreciation rights	—		48		—		179
Employee stock purchase plan	110		81		213		157
Total share-based compensation	$	1,884	$	2,870	$	3,581	$	4,655

Stock option activity is as follows:

	For the Three Months Ended				For the Six Months Ended
	June 29, 2012				June 29, 2012
	Options		Weighted - average exercise price		Options		Weighted - average exercise price
Options outstanding at beginning of period	1,106,447		$	25.38	979,658		$	23.35
Granted	—		—		181,620		33.59
Exercised	(16,243	)	20.87		(55,431	)	17.19
Forfeited or expired	—		—		(15,643	)	17.66
Options outstanding at June 29, 2012	1,090,204		25.45		1,090,204		25.45

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
	June 29, 2012			July 1, 2011			June 29, 2012			July 1, 2011
Expected option term (years)							5.4			6.5
Expected volatility	—		%	—		%	46.5		%	43.9		%
Risk-free interest rate	—		%	—		%	0.9		%	2.9		%
Expected dividend yield	—		%	—		%	1.9		%	2.2		%
Per share fair value of options granted	$	—		$	—		$	12.00		$	12.05

No stock options were granted during the three months ended June 29, 2012 and July 1, 2011.

11. SHARE-BASED ARRANGEMENTS (CONTINUED)

Restricted Stock activity is as follows:

	For the Three Months Ended				For the Six Months Ended
	June 29, 2012				June 29, 2012
	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	311,517		$	27.73	309,533		$	25.74
Granted	18,992		33.71		94,392		33.67
Vested	(36,630	)	28.65		(108,244	)	26.65
Forfeited or expired	—		—		(1,802	)	23.54
Restricted Stock outstanding at June 29, 2012	293,879		28.00		293,879		28.00