XML 66 R36.htm IDEA: XBRL DOCUMENT v2.4.0.6
Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Valuation Assumptions
The following table includes the weighted- average assumptions used in estimating the fair values and the resulting weighted-average fair value of stock options granted in the periods presented:
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
 
Year Ended December 31, 2010
Weighted average fair values of stock options granted
$
16.94

 
$
20.58

 
$
21.70

Expected volatility
47.9
%
 
59.0
%
 
54.9
%
Expected dividends
1.18
%
 
.74
%
 
—
%
Weighted average risk-free interest rate
.33
%
 
.33
%
 
.72
%
Expected life of stock options (in years)
3.5

 
3.5

 
3.5
Schedule of Stock Options Activity
A summary of stock option activity for the years ended December 31, 2012, 2011 and 2010 is as follows:
 
Within Plans
 
Outside Plan
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
 
Aggregate Intrinsic
Value
 
 
 
 
 
 
 
 
 
(in thousands)
Outstanding at January 1, 2010
4,542,636

 
5,625

 
$
1.69

 
2.91
 
$
66,344

Granted
45,000

 
—

 
$
21.70

 
 
 
 
Exercised
(1,247,160
)
 
(5,625
)
 
$
4.99

 
 
 
 
Canceled
—

 
—

 
$
—

 
 
 
 
Outstanding at December 31, 2010
3,340,476

 
—

 
$
2.22

 
2.51
 
$
71,638

Granted
45,000

 
—

 
$
20.58

 
 
 
 
Exercised
(69,509
)
 
—

 
$
0.73

 
 
 
 
Canceled
(792
)
 
—

 
$
0.72

 
 
 
 
Outstanding at December 31, 2011
3,315,175

 
—

 
$
2.51

 
1.56
 
$
64,959

Granted
45,000

 
—

 
$
16.94

 
 
 
 
Exercised
(1,361,542
)
 
—

 
$
0.75

 
 
 
 
Canceled
—

 
—

 
$
—

 
 
 
 
Outstanding at December 31, 2012
1,998,633

 
—

 
$
4.03

 
1.17
 
$
24,171

Exercisable at December 31, 2012
1,863,633

 
—

 
$
2.96

 
1.03
 
$
24,533
Schedule of Nonvested Share Activity
A summary of non-vested options and changes for the years ended December 31, 2012, 2011 and 2010 is as follows:

 
Non-Vested Number of Shares
 
Weighted
Average
Exercise Price
 
 
 
 
Non-vested balance at January 1, 2010
303,900

 
$
11.79

Granted
45,000

 
$
21.70

Vested
(101,210
)
 
$
10.61

Canceled
—

 
$
—

Non-vested balance at December 31, 2010
247,690

 
$
14.07

Granted
45,000

 
$
20.58

Vested
(112,685
)
 
$
11.71

Canceled
—

 
$
—

Non-vested balance at December 31, 2011
180,005

 
$
17.17

Granted
45,000

 
$
16.94

Vested
(90,005
)
 
$
14.60

Canceled
—

 
$
—

Non-vested balance at December 31, 2012
135,000

 
$
18.80
Schedule of Shares Authorized under Stock Option Plans, by Exercise Price Range
The following table summarizes information about stock options outstanding by price range as of December 31, 2012:
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number Outstanding
 
Weighted-Average Remaining Contractual Life (Years)
 
Weighted-Average Exercise Price
 
Number of Shares
 
Weighted-Average Exercise Price
$0.59-$1.75
 
1,470,375

 
0.90
 
$
0.97

 
1,470,375

 
$
0.97

$2.17-$2.36
 
54,000

 
3.39
 
$
2.27

 
54,000

 
$
2.27

$6.98-$7.27
 
204,258

 
0.63
 
$
7.16

 
204,258

 
$
7.16

$16.94-$21.70
 
270,000

 
2.60
 
$
18.66

 
135,000

 
$
18.52

 
 
1,998,633

 
1.17
 
$
4.03

 
1,863,633

 
$
2.96
Schedule of Nonvested Restricted Stock Activity
A summary of the status of the Company’s non-vested restricted stock grant shares is presented in the following table:

 
Shares
 
Weighted-Average Grant Date
Fair Value
Non vested at January 1, 2010
405,312

 
$
7.79

Granted
50,371

 
$
16.05

Vested
(241,215
)
 
$
7.59

Forfeited
(4,183
)
 
$
8.22

Non vested at December 31, 2010
210,285

 
$
9.98

Granted
103,469

 
$
23.33

Vested
(150,267
)
 
$
9.51

Forfeited
(18,406
)
 
$
8.79

Non vested at December 31, 2011
145,081

 
$
20.13

Granted
73,061

 
$
23.26

Vested
(90,379
)
 
$
18.89

Forfeited
(6,607
)
 
$
24.10

Non vested at December 31, 2012
121,156

 
$
22.74