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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Stock-Based Compensation  
Summary of granted restricted stock units and stock grants and the weighted average fair value

 

 

 

 

2013

 

2012

 

2011

 

Units granted

 

129,620

 

202,278

 

292,242

 

Grant date fair value (a) 

 

$

55.21

 

$

49.31

 

$

41.98

 

 

(a)                                 Weighted-average grant date fair value.

 

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

 

 

Nonvested shares

 

Shares

 

Weighted-Average
Grant Date Fair Value

 

Nonvested at January 1, 2013

 

480,753

 

$

43.58

 

Granted

 

129,620

 

55.21

 

Vested

 

191,988

 

40.33

 

Forfeited

 

20,409

 

45.70

 

Nonvested at December 31, 2013

 

397,976

 

47.74

 

 

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

 

2013

 

2012

 

2011

 

2007 Grant

 

$

 

$

 

$

1.0

 

2008 Grant

 

 

1.9

 

1.6

 

2009 Grant

 

3.0

 

1.7

 

1.5

 

2010 Grant

 

2.3

 

0.6

 

0.6

 

2011 Grant

 

2.5

 

0.7

 

 

2012 Grant

 

2.2

 

 

 

 

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

 

 

 

 

2013

 

2012

 

2011

 

Units granted (a)

 

176,332

 

185,878

 

175,072

 

Grant date fair value (b)

 

$

55.45

 

$

47.40

 

$

41.71

 

 

(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

 

 

Nonvested shares (a)

 

Shares

 

Weighted-Average
Grant Date Fair Value

 

Nonvested at January 1, 2013

 

347,690

 

$

44.67

 

Granted

 

176,332

 

55.45

 

Increase in performance factor

 

40,183

 

41.71

 

Vested

 

200,915

 

41.71

 

Forfeited

 

18,894

 

48.11

 

Nonvested at December 31, 2013

 

344,396

 

51.13

 

 

(a)                                 Nonvested shares are reflected at 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

 

 

Options

 

Shares

 

Weighted-
Average 
Exercise 
Price

 

Outstanding at January 1, 2013

 

7,925

 

$

32.29

 

Exercised

 

3,625

 

32.29

 

Forfeited or expired

 

4,300

 

32.29

 

Outstanding at December 31, 2013