Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2011
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Stock-Based Compensation [Abstract] |
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Fair value assumptions of stock options |
| 2011 | 2010 | 2009 | Dividend yield | | 2.00 | % | | 3.00 | % | | 4.95 | % | Risk-free interest rate | | 2.27 | % | | 2.70 | % | | 1.87 | % | Expected volatility | | 47.24 | % | | 45.38 | % | | 36.00 | % | Weighted average expected life | | 6 years | | | 6 years | | | 6 years | | Weighted average per share fair value of options | $ | 5.56 | | $ | 4.60 | | $ | 3.60 | |
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Summary of Company's Stock Option Activities |
| | | | | Weighted Average | Aggregate | | | Weighted Average | | Remaining | Intrinsic | Stock Options | Shares | Exercise Price | | Contractual Term | Value (000s) | Outstanding at December 31, 2008 | 6,581,702 | $ | 27.45 | | | | | Granted | 975,548 | | 17.05 | | | | | Exercised | (945) | | 16.70 | | | | | Forfeited or expired | (847,687) | | 25.73 | | | | | Outstanding at December 31, 2009 | 6,708,618 | $ | 26.16 | | 5.61 | $ | - | Options exercisable at December 31, 2009 | 4,811,626 | $ | 27.73 | | 4.50 | $ | - | Outstanding at December 31, 2009 | 6,708,618 | | 26.16 | | | | | Granted | 1,348,474 | | 13.24 | | | | | Exercised | (14,868) | | 12.71 | | | | | Forfeited or expired | (740,766) | | 20.95 | | | | | Outstanding at December 31, 2010 | 7,301,458 | $ | 24.33 | | 5.01 | $ | 2,460 | Options exercisable at December 31, 2010 | 5,275,738 | $ | 27.60 | | 3.63 | $ | 63 | Outstanding at December 31, 2010 | 7,301,458 | | 24.33 | | | | | Granted | 1,624,369 | | 14.20 | | | | | Exercised | (23,437) | | 12.66 | | | | | Forfeited or expired | (1,847,116) | | 24.51 | | | | | Outstanding at December 31, 2011 | 7,055,274 | $ | 21.99 | | 5.61 | $ | 27 | Options exercisable at December 31, 2011 | 4,623,935 | $ | 26.10 | | 4.01 | $ | 7 | | | | | | | | |
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Summary of Company's Nonvested Stock Option Activities |
The following table summarizes information about the Corporation’s nonvested stock option activity for 2011, 2010, and 2009. | | | | | | | | | Weighted Average | Stock Options | Shares | | Grant Date Fair Value | Nonvested at December 31, 2008 | 1,811,165 | | $ | 3.85 | Granted | 975,548 | | | 3.60 | Vested | (650,629) | | | 4.07 | Forfeited | (239,092) | | | 4.26 | Nonvested at December 31, 2009 | 1,896,992 | | $ | 3.60 | Nonvested at December 31, 2009 | 1,896,992 | | $ | 3.60 | Granted | 1,348,474 | | | 4.60 | Vested | (920,969) | | | 3.93 | Forfeited | (298,777) | | | 3.78 | Nonvested at December 31, 2010 | 2,025,720 | | $ | 4.09 | Nonvested at December 31, 2010 | 2,025,720 | | $ | 4.09 | Granted | 1,624,369 | | | 5.56 | Vested | (955,454) | | | 3.77 | Forfeited | (263,296) | | | 4.85 | Nonvested at December 31, 2011 | 2,431,339 | | $ | 5.11 |
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Summary of Restricted Stock Awards Activity (Excluding Salary Shares) |
The following table summarizes information about the Corporation’s restricted stock activity for 2011, 2010, and 2009. | | | | | | | | | Weighted Average | Restricted Stock | Shares | | Grant Date Fair Value | Outstanding at December 31, 2008 | 354,327 | | $ | 26.75 | Granted | 371,643 | | | 16.48 | Vested | (146,320) | | | 27.96 | Forfeited | (52,519) | | | 21.80 | Outstanding at December 31, 2009 | 527,131 | | $ | 19.67 | Outstanding at December 31, 2009 | 527,131 | | $ | 19.67 | Granted | 604,343 | | | 12.38 | Vested | (205,239) | | | 21.68 | Forfeited | (153,973) | | | 17.12 | Outstanding at December 31, 2010 | 772,262 | | $ | 13.94 | Outstanding at December 31, 2010 | 772,262 | | $ | 13.94 | Granted | 593,437 | | | 14.27 | Vested | (169,499) | | | 17.74 | Forfeited | (182,435) | | | 13.86 | Outstanding at December 31, 2011 | 1,013,765 | | $ | 13.79 |
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Summary of stock options outstanding by range of exercise prices |
The following table summarizes information about the Corporation’s stock options outstanding at December 31, 2011. | | | | | | | | | | | | | | | Options | | Weighted Average | | Remaining | | | Options | | Weighted Average | | Outstanding | | Exercise Price | | Life (Years) | | | Exercisable | | Exercise Price | | | | | | | | | | | | | | Range of Exercise Prices: | | | | | | | | | | | | | $0.00 — $10.00 | 4,000 | | $ | 9.26 | | 7.56 | | | 2,680 | | $ | 9.26 | $10.01 — $15.00 | 2,592,027 | | | 13.77 | | 8.65 | | | 384,122 | | | 13.20 | $15.01 — $20.00 | 761,217 | | | 17.40 | | 6.87 | | | 539,103 | | | 17.54 | $20.01 — $25.00 | 1,504,303 | | | 23.40 | | 2.98 | | | 1,504,303 | | | 23.40 | $25.01 — $30.00 | 452,037 | | | 29.04 | | 2.05 | | | 452,037 | | | 29.04 | Over $30.00 | 1,741,690 | | | 33.19 | | 3.72 | | | 1,741,690 | | | 33.19 | Total | 7,055,274 | | $ | 21.99 | | 5.61 | | | 4,623,935 | | $ | 26.10 |
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