Share-Based Payments (Tables)

6 Months Ended

Jun. 30, 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	—	(29,300	)	150.00
Forfeited	—	(400	)	255.13
Expired	—	—		—
Stock options granted	—	—		—
Balance at June 30, 2013	291,000	52,768		$	205.76

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	(1,050	)	114.64
Forfeited	(400	)	251.49
Granted	—		—
Balance at June 30, 2013	65,011		$	124.41

Summary of Information About Stock Options and SARs Outstanding

The following table summarizes information about stock options and SARs outstanding at June 30, 2013.

	Options/SARs Outstanding
	Number Outstanding		Weighted- Average Remaining Contractual Life	Options Exercisable
Exercise prices:
$150.00	20,750		0.9 years	20,750
255.13	23,018		4.8 years	13,812
208.05	9,000		5.0 years	9,000
236.00	250		5.1 years	100
114.64	30,993		5.6 years	15,308
132.56	33,768		8.5 years	1,800
Totals	117,779			60,770
Aggregate intrinsic value (in thousands)	$	5,092		$	2,081

Summary of Assumptions Employed Using Black-Scholes Option Pricing Model

In estimating the fair value of the options outstanding at June 30, 2013 and December 31, 2012, the Company employed the Black-Scholes option pricing model with assumptions as detailed below.

	June 30, 2013		December 31, 2012
Expected term of options	1 to 9 years		0 to 9 years
Expected volatility:
Range	20.28% to 33.37%		19.54% to 34.93%
Weighted-average	25.26	%	25.96	%
Expected dividend yield	0.19	%	0.23	%
Risk-free rate:
Range	0.53% to 2.40%		0.39% to 1.49%
Weighted-average	1.13	%	0.84	%