Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation expense and income tax benefits recognized during the periods

The following table provides information on share-based compensation expense and income tax benefits recognized in 2012, 2011 and 2010:

	Years ended December 31,
	2012			2011		2010
	(In thousands)
Stock option and stock purchase plans	$	9,469		9,497		9,069
Nonvested stock	9,395			7,926		7,474
Share-based compensation expense	18,864			17,423		16,543
Income tax benefit	(6,309		)	(5,794	)	(5,572	)
Share-based compensation expense, net of tax	$	12,555		11,629		10,971

Summary of share-based compensation expense recognized related to cash awards

The following table is a summary of compensation expense recognized related to cash awards in addition to share-based compensation expense reported in the previous table.

	Years ended December 31
	2012		2011	2010
	(In thousands)
Cash awards	$	1,099	1,882	2,052

Summary of stock option activity

The following is a summary of option activity under our stock option plans as of and for the year ended December 31, 2012:

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic  Value
	(In thousands)				(In years)	(In thousands)
Options outstanding at January 1	3,297		$	44.25
Granted	456		53.63
Exercised	(508	)	38.68
Forfeited or expired	(97	)	48.92
Options outstanding at December 31	3,148		$	46.36	3.6	$	18,566
Vested and expected to vest at December 31	3,077		$	46.31	3.1	$	18,313
Exercisable at December 31	2,032		$	45.76	2.6	$	14,106

Information about options in various price ranges

Information about options in various price ranges at December 31, 2012 follows:

	Options Outstanding				Options Exercisable
Price Ranges	Shares	Weighted- Average Remaining Contractual Term	Weighted- Average  Exercise Price		Shares	Weighted- Average  Exercise Price
	(In thousands)	(In years)			(In thousands)
Less than $45.00	1,131	3.4	$	33.82	881	$	34.05
45.00-50.00	617	5.1	49.38		204	49.38
50.00-55.00	897	3.6	53.04		452	52.48
55.00 and over	503	2.2	58.96		495	58.96
Total	3,148	3.6	$	46.36	2,032	$	45.76

Summary of Nonvested stock awards

The following is a summary of the status of Ryder’s nonvested restricted stock awards as of and for the year ended December 31, 2012:

	Time-Vested			Market-Based Vested
	Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value
	(In thousands)			(In thousands)
Nonvested stock outstanding at January 1	373	$	46.72	476	$	18.69
Granted	129	52.38		93	43.39
Vested	(47)	39.10		—	—
Forfeited	(15)	49.76		(182)	32.20
Nonvested stock outstanding at December 31	440	$	49.16	387	$	25.35

Summary of Employee Stock Purchase Plan

The following table summarizes the status of Ryder’s ESPP:

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic  Value
	(In thousands)				(In years)	(In thousands)
Outstanding at January 1	—		$	—
Granted	268		33.72
Exercised	(268	)	33.72
Forfeited or expired	—		—
Outstanding at December 31	—		$	—	—	$	—
Exercisable at December 31	—		$	—	—	$	—

Weighted-average assumptions used for options granted

The following table presents the weighted-average assumptions used for options granted:

	Years ended December 31,
	2012	2011	2010
Option plans:
Expected dividends	2.2%	2.2%	3.0%
Expected volatility	40.7%	38.7%	43.9%
Risk-free rate	0.6%	1.7%	1.7%
Expected term in years	3.7 years	3.6 years	3.4 years
Grant-date fair value	$14.07	$12.88	$8.93
Purchase plan:
Expected dividends	2.7%	2.4%	2.5%
Expected volatility	32.7%	32.8%	35.6%
Risk-free rate	0.1%	0.1%	0.2%
Expected term in years	0.25 years	0.25 years	0.25 years
Grant-date fair value	$9.53	$10.21	$8.95