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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Fait Value of Share-Based Payment Awards

The fair values for stock options granted for the years ended December 31, 2012, 2011 and 2010 were estimated using the Black-Scholes option pricing model with the following weighted-average assumptions.

 

     Year Ended December 31,  
     2012      2011      2010  

Weighted-average expected lives of options

      7.8 yrs.         4.6 yrs.         7.6 yrs.   

Expected volatility

      44.6%         47.8%         44.2%   

Risk free interest rate

      1.7%         1.3%         2.8%   

Dividend yield rate

      4.0%         4.1%         3.5%   
Options Granted to Executives, Non-Executives and Directors that are Outstanding

The following table provides outstanding, exercisable and vested or expected to vest in future reporting periods data for our stock options granted to Executives, Non-Executives and Directors as of December 31, 2012.

 

     Number of
Shares		      Weighted-
Average
Exercise Price		      Weighted-
Average
Remaining
Contractual
Life (in years)		      Aggregate
Intrinsic Value
(in thousands)		  

Outstanding

            

Executives

      4,475,604       $     41.03         

Directors

      1,044,000         46.84         

Non-Executives

      359,969         33.03         
  

 

 

           

Total

          5,879,573       $ 41.29         5.40       $     23,750   
  

 

 

           
Options Granted to Executive Non Executives and Directors that are Exercisable or Expected to Vest in Future

The following table provides outstanding, exercisable and vested or expected to vest in future reporting periods data for our stock options granted to Executives, Non-Executives and Directors as of December 31, 2012.

 

Exerciseable or expected to vest in the future

            

Executives

      4,475,604       $ 41.03         

Directors

      1,044,000         44.46         

Non-Executives

      279,193         37.36         
  

 

 

           

Total

      5,798,797       $ 41.47         8.23       $ 3,669   
  

 

 

           
Options Granted to Executives Non Executives and Directors that are Exercisable

The following table provides outstanding, exercisable and vested or expected to vest in future reporting periods data for our stock options granted to Executives, Non-Executives and Directors as of December 31, 2012.

 

Exerciseable

            

Executives

      2,600,604       $ 51.11         

Directors

      1,044,000         48.47         

Non-Executives

      189,969         36.80         
  

 

 

           

Total

      3,834,573       $ 48.83         3.76       $ 4,042   
Outstanding and Exercisable Stock Options

The following table summarizes information associated with outstanding and exercisable stock options at December 31, 2012.

 

     Options Outstanding      Options Exercisable  

Range of Exercise Price

    Number
Outstanding		      Weighted-
Average
Remaining
Contractual
Life (in years)		      Weighted-
Average
Exercise Price		      Number
Exercisable		      Weighted-
Average
Remaining
Contractual
Life (in years)		      Weighted-
Average
Exercise Price		  

$15.84 - $ 23.77

      180,000         8.99       $ 20.91         30,000         8.98       $ 22.12   

$23.78 - $ 39.61

      2,955,830         7.75       $ 29.79         1,060,830         6.86       $ 33.61   

$39.62 - $ 47.53

      1,234,243         2.46       $ 43.84         1,234,243         2.52       $ 43.84   

$47.54 - $ 63.38

      892,500         3.06       $ 60.41         892,500         2.85       $ 60.41   

$63.39 - $ 71.30

      492,000         2.30       $ 67.17         492,000         2.26       $ 67.17   

$71.31 - $ 78.89

      125,000         2.75       $ 78.89         125,000         2.75       $ 78.89   
  

 

 

           

 

 

        

Total

      5,879,573         5.40       $ 41.29         3,834,573         3.76       $ 48.83   
  

 

 

           

 

 

        
Restricted Stock [Member]
  
Restricted and Unrestricted Stock Award Activity

Restricted and Unrestricted Stock Award Activity.  Non-vested restricted stock awards at December 31, 2012, 2011 and 2010 and changes during those years were as follows:

 

     Year Ended December 31,  
     2012      2011      2010  
     Number of
Shares		     Weighted-
Average Grant
Date Fair
Value		      Number of
Shares		     Weighted-
Average Grant
Date Fair
Value		      Number of
Shares		     Weighted-
Average Grant
Date
Fair Value		  

Unvested, beginning of year

      667,849      $     33.19         443,112      $     36.15         420,862      $     36.84   

Granted

      48,613        27.85         329,703        30.24         125,626        34.49   

Vested

      (197,801 )      35.88         (100,677 )      36.34         (100,542 )      37.02   

Forfeited

      (11,294 )      30.62         (4,289 )      38.88         (2,834 )      42.38   
  

 

 

       

 

 

       

 

 

    

Unvested, end of year

          507,367      $ 31.69             667,849      $ 33.19             443,112      $ 36.10   
  

 

 

       

 

 

       

 

 

    
Stock Options [Member]
  
Restricted and Unrestricted Stock Award Activity

Stock Option Award Activity. Stock option activity under our option plans for the years ended December 31, 2012, 2011 and 2010 were as follows.

 

 

Year Ended December 31,  
     2012      2011      2010  
     Number of
Shares		     Weighted-
Average
Fair Value		      Number of
Shares		     Weighted-
Average
Fair Value		      Number of
Shares		     Weighted-
Average
Fair Value		  

Unvested Stock Option Activity

               

Unvested, beginning of year

      1,251,328      $     14.99         1,790,425      $     13.50         2,233,717      $     13.88   

Granted - at fair market value(1)

      1,382,500        7.54         265,000        7.42         376,500        8.99   

Granted - above fair market value

      -        -         -        -         180,000        9.45   

Vested

      (533,118 )      8.61         (679,387 )      14.76         (822,471 )      19.19   

Forfeited

      (55,710 )      8.45         (124,710 )      10.13         (177,321 )      11.59   
  

 

 

       

 

 

       

 

 

    

Unvested, end of year

          2,045,000      $ 13.99             1,251,328      $ 14.99             1,790,425      $ 13.50

(1)

Total shares granted in 2012 include 1,000,000 performance based options granted to our CEO and COO. See further discussion regarding these grants in the "Performance Based Stock Award Activity" section below.
Outstanding Stock Option Activity

Stock Option Award Activity. Stock option activity under our option plans for the years ended December 31, 2012, 2011 and 2010 were as follows.

 

     Year Ended December 31,  
     2012      2011      2010  
     Number of
Shares		     Weighted-
Average
Exercise Price		      Number of
Shares		     Weighted-
Average
Exercise Price		      Number of
Shares		     Weighted-
Average
Exercise Price		  

Outstanding Stock Option Activity

               

Outstanding, beginning of year

      5,306,506      $     42.69         6,002,174      $     40.72         5,640,619      $     41.53   

Granted - at fair market value(1)

      1,382,500        25.33         265,000        25.07         376,500        29.37   

Granted - above fair market value

      -        -         -        -         180,000        31.75   

Exercised

      (704,242 )      23.69         (489,324 )      18.47         (2,894 )      18.47   

Forfeited

      (55,710 )      27.46         (124,710 )      32.20         (177,321 )      32.62   

Cancelled

      (49,481 )      44.75         (346,634 )      33.87         (14,730 )      44.94   
  

 

 

       

 

 

       

 

 

    

Outstanding, end of year

          5,879,573      $ 41.29             5,306,506      $ 42.69             6,002,174      $ 40.72   

(1)

Total shares granted in 2012 include 1,000,000 performance based options granted to our CEO and COO. See further discussion regarding these grants in the "Performance Based Stock Award Activity" section below.