Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2013

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of nonvested stock activity

During the three months ended March 31, 2013, no shares of nonvested common stock were granted.

7.    Share-Based Compensation, continued

Total compensation cost charged against income related to nonvested stock awards was $2.6 million and $3.7 million, for the three months ended March 31, 2013 and 2012, respectively. The corresponding income tax benefit recognized in the income statement was $1.0 million and $1.5 million, for the three months ended March 31, 2013 and 2012, respectively.

At March 31, 2013, there was $16.0 million of unrecognized compensation cost related to these nonvested shares, which will be recognized over a weighted-average period of 2.7 years. A summary of our nonvested stock activity for the three months ended March 31, 2013 is as follows (in thousands, except per share amounts):

	Shares		Grant Date Weighted- Average Fair Value Per Share
Outstanding at December 31, 2012	1,451		$	19.90
Granted	—		$	—
Vested	(7	)	$	22.98
Forfeited/Canceled	—		$	—
Outstanding at March 31, 2013	1,444		$	19.89

Summary of stock option activity

A summary of our stock option activity for the three months ended March 31, 2013 is as follows (in thousands):

	Stock Options		Weighted- Average Exercise Price
Outstanding at December 31, 2012	2,181		$	17.20
Granted	—		$	—
Exercised	(121	)	$	16.08
Canceled	—		$	—
Outstanding at March 31, 2013	2,060		$	17.27
Exercisable at March 31, 2013	984		$	17.28
Vested and expected to vest at March 31, 2013	2,032		$	17.28

There were no stock options granted during the three months ended March 31, 2013. The aggregate intrinsic value of our stock options exercised during the three months ended March 31, 2013 was $817,000 and the actual tax benefit realized on options exercised during this period was $320,000.

At March 31, 2013 there was $4.9 million of total unrecognized compensation cost related to our stock options. This cost is expected to be recognized over a weighted-average period of 2.9 years.

The compensation cost charged against income, for stock options for the three months ended March 31, 2013 and 2012, was $604,000 and $474,000, respectively. The corresponding income tax benefit recognized was $236,000 and $186,000, for the three months ended March 31, 2013 and 2012, respectively.