Stock Plans (Tables)

6 Months Ended

Jun. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Compensation Expense

Stock compensation expense is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2014		2013		2014		2013
Stock compensation expense	$	1,645	$	2,754	$	6,810	$	7,949
Income tax benefit	603		1,026		2,490		2,948
Stock compensation expense, net of income tax benefit	1,042		1,728		4,320		5,001

Schedule of Valuation Assumptions

Stock option expense is based on the fair value of stock option grants estimated on the grant dates using the Black-Scholes option pricing model and the following weighted average assumptions for options granted in 2014.

	2014
Fair value per option	$	17.26
Risk-free interest rate	2.06		%
Expected dividend yield	2.41		%
Expected volatility	40.50		%
Expected life (years)	6.6

Summary of Stock Option Activity

A summary of stock option activity for the six months ended June 30, 2014 follows:

	Shares		Weighted Average Exercise Price
Outstanding at January 1	1,695,380		$	34.55
Granted	138,519		51.69
Exercised	(121,047	)	36.85
Forfeited	(21,085	)	38.45
Outstanding at June 30	1,691,767		35.74
Exercisable at June 30	1,218,479		31.86

Summary of Restricted Stock Activity

A summary of restricted stock activity for the six months ended June 30, 2014 follows:

	Shares		Weighted Average Grant Date Fair Value
Unvested at January 1	303,419		$	39.79
Granted	82,443		51.87
Vested	(102,582	)	34.36
Forfeited	(4,683	)	43.26
Unvested at June 30	278,597		45.31

Summary of Performance Stock Unit Activity

A summary of performance stock unit activity for the six months ended June 30, 2014 follows:

	Shares		Weighted Average Grant Date Fair Value
Unvested at January 1	149,389		$	46.32
Granted	46,242		57.42
Performance adjustments	41,428		39.42
Vested	(88,996	)	39.11
Unvested at June 30	148,063		52.20