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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2012
Stock-Based Compensation  
Summary of granted restricted stock units and stock grants and the weighted average fair value

 

 

 

 

2012

 

2011

 

2010

 

Units granted

 

202,278

 

292,242

 

202,341

 

Grant date fair value (a) 

 

$

49.31

 

$

41.98

 

$

37.47

 

 

(a)                                 Weighted-average grant date fair value

Summary of the status of restricted stock units and stock grants and changes during the year

The following table is a summary of the status of restricted stock units and stock grants, as of December 31, 2012 and changes during the year. 

Nonvested shares

 

Shares

 

Weighted-Average
Grant-Date Fair Value

 

Nonvested at January 1, 2012

 

416,231

 

$

39.61

 

Granted

 

202,278

 

49.31

 

Vested

 

126,959

 

39.76

 

Forfeited

 

10,797

 

42.63

 

Nonvested at December 31, 2012

 

480,753

 

43.58

 

Schedule of amount of cash required to settle the payments on restricted stock units

The amount of cash required to settle the payments on restricted stock units is (dollars in millions):

 

Year

 

2012

 

2011

 

2010

 

2007 Grant

 

$

 

$

1.0

 

$

0.9

 

2008 Grant

 

1.9

 

1.6

 

1.5

 

2009 Grant

 

1.7

 

1.5

 

1.4

 

2010 Grant

 

0.6

 

0.6

 

 

2011 Grant

 

0.7

 

 

 

Summary of the performance shares granted and the weighted average fair value

 

 

 

2012

 

2011

 

2010

 

Units granted (a)

 

185,878

 

175,072

 

178,722

 

Grant date fair value (b)

 

$

47.40

 

$

41.71

 

$

37.57

 

 

(a)                                 Reflects the target payout level.

(b)                                 Weighted-average grant date fair value.

Summary of the status of performance shares and changes during the year

The following table is a summary of the status of performance shares, as of December 31, 2012 and changes during the year:

 

Nonvested shares (a)

 

Shares

 

Weighted-Average
Grant-Date Fair Value

 

Nonvested at January 1, 2012

 

347,946

 

$

39.64

 

Granted

 

185,878

 

47.40

 

Increase in performance factor

 

87,037

 

37.57

 

Vested

 

257,127

 

37.57

 

Forfeited

 

16,044

 

42.53

 

Nonvested at December 31, 2012

 

347,690

 

44.67

 

 

(a)           Nonvested shares are reflected at the target payout level.  The increase or decrease in the number of shares from the target level to the estimated actual payout level is included in the increase for performance factor amounts in the year the award vests.

 

Summary of stock option activity under prior equity incentive plans

The following table summarizes the option activity under prior equity incentive plans for the year ended December 31, 2012:

 

Options

 

Shares

 

Weighted-
Average
Exercise Price

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

Aggregate
Intrinsic
Value (dollars
in thousands)

 

Outstanding at January 1, 2012

 

22,958

 

$

34.75

 

 

 

 

 

Exercised

 

15,033

 

36.05

 

 

 

 

 

Forfeited or expired

 

 

 

 

 

 

 

Outstanding at December 31, 2012

 

7,925

 

32.29

 

.21

 

$

148

 

Exercisable at December 31, 2012

 

7,925

 

32.29

 

.21

 

$

148