Share-Based Compensation

9 Months Ended

Sep. 30, 2012

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Share-Based Compensation

Share-Based Compensation

For the three and nine months ended September 30, 2012 and 2011, we recorded share-based compensation and related tax benefits as follows:

	Three months ended September 30,						Nine months ended September 30,
(Dollars in thousands)	2012			2011			2012			2011
Share-based compensation expense	$	5,617		$	4,552		$	16,594		$	13,501
Income tax benefit related to share-based compensation expense	(1,720		)	(1,256		)	(4,408		)	(3,532		)

Unrecognized Compensation Expense

As of September 30, 2012, unrecognized share-based compensation expense was as follows:

(Dollars in thousands)	Unrecognized   Expense		Average Expected Recognition   Period - in Years
Stock options	$	17,308	2.80
Restricted stock units	26,662		2.81
Total unrecognized share-based compensation expense	$	43,970

Share-Based Payment Award Activity

The table below provides stock option information related to the 1997 Equity Incentive Plan and the 2006 Equity Incentive Plan for the nine months ended September 30, 2012:

	Options		Weighted Average  Exercise Price		Weighted Average Remaining Contractual   Life in Years	Aggregate   Intrinsic Value   of In-The- Money Options
Outstanding at December 31, 2011	2,439,360		$	42.64
Granted	395,563		63.90
Exercised	(680,929	)	35.28
Forfeited	(56,996	)	47.90
Expired	(4,568	)	42.50
Outstanding at September 30, 2012	2,092,430		48.91		4.14	$	25,582,079
Vested and expected to vest at September 30, 2012	2,003,907		48.50		4.07	25,221,007
Exercisable at September 30, 2012	1,088,716		44.35		2.88	17,542,729

The aggregate intrinsic value of outstanding options shown in the table above represents the pretax intrinsic value based on our closing stock price of $60.46 as of September 30, 2012. The total intrinsic value of options exercised during the three and nine months ended September 30, 2012 was $3.0 million and $16.7 million, respectively, compared to $3.2 million and $19.0 million for the comparable 2011 periods.

The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the nine months ended September 30, 2012:

	Shares		Weighted Average     Grant Date Fair     Value
Nonvested at December 31, 2011	499,119		$	52.72
Granted	313,040		63.83
Vested	(144,953	)	51.25
Forfeited	(26,700	)	54.89
Nonvested at September 30, 2012	640,506		58.39