Share-Based Payments (Tables)

3 Months Ended

Mar. 31, 2013

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

Summary of Shares Available for Grant and Stock Option Activity

A summary of shares available for grant and stock option activity is detailed below.

		Options Outstanding
	Shares Available For Grant	Shares		Weighted- Average Exercise Price
Stock Options:
Balance at January 1, 2013	291,000	82,468		$	186.19
Exercised	—	(2,850	)	150.00
Forfeited	—	(400	)	255.13
Expired	—	—		—
Stock options granted	—	—		—
Balance at March 31, 2013	291,000	79,218		$	187.14

Schedule of Stock Appreciation Rights Activity

	Stock Appreciation Rights Outstanding
	Awards		Weighted- Average Exercise Price
Stock Appreciation Rights:
Balance at January 1, 2013	66,461		$	125.03
Exercised	(800	)	114.64
Forfeited	(400	)	251.49
Granted	—		—
Balance at March 31, 2013	65,261		$	124.38

Summary of Information About Stock Options and SARs Outstanding

The following table summarizes information about stock options and SARs outstanding at March 31, 2013.

	Options/SARs Outstanding
	Number Outstanding		Weighted- Average Remaining Contractual Life	Options Exercisable
Exercise prices:
$150.00	47,200		1.1 years	47,200
255.13	23,018		5.1 years	9,208
208.05	9,000		5.2 years	7,200
236.00	250		5.4 years	100
114.64	31,243		5.8 years	15,558
132.56	33,768		8.7 years	1,800
Totals	144,479			81,066
Aggregate intrinsic value (in thousands)	$	4,611		$	2,260

Summary of Assumptions Employed Using Black-Scholes Option Pricing Model

In estimating the fair value of the options outstanding at March 31, 2013 and December 31, 2012, the Company employed the Black-Scholes option pricing model with assumptions as detailed below.

	March 31, 2013		December 31, 2012
Expected term of options	1 to 9 years		0 to 9 years
Expected volatility:
Range	18.86% to 33.49%		19.54% to 34.93%
Weighted-average	24.93	%	25.96	%
Expected dividend yield	20.20	%	23.00	%
Risk-free rate:
Range	0.42% to 1.64%		0.39% to 1.49%
Weighted-average	0.84	%	0.84	%