Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2013

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 2013, 2012 and 2011:

	Years ended December 31,
	2013			2012		2011
	(In thousands)
Stock option and stock purchase plans	$	8,303		9,469		9,497
Nonvested stock	11,007			9,395		7,926
Share-based compensation expense	19,310			18,864		17,423
Income tax benefit	(6,224		)	(6,309	)	(5,794	)
Share-based compensation expense, net of tax	$	13,086		12,555		11,629

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
	2013		2012	2011
	(In thousands)
Cash awards	$	996	1,099	1,882

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, 2013:

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic  Value
	(In thousands)				(In years)	(In thousands)
Options outstanding at January 1	3,148		$	46.36
Granted	391		58.27
Exercised	(1,730	)	45.28
Forfeited or expired	(92	)	49.56
Options outstanding at December 31	1,717		$	49.99	4.9	$	40,861
Vested and expected to vest at December 31	1,653		$	49.75	4.5	$	39,730
Exercisable at December 31	889		$	45.34	3.2	$	25,285

Information about options in various price ranges

Information about options in various price ranges at December 31, 2013 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	354	2.9	$	33.14	354	$	33.14
45.00-50.00	412	4.1	49.39		254	49.39
50.00-55.00	413	4.9	53.57		128	53.47
55.00 and over	538	6.9	58.79		153	60.07
Total	1,717	4.9	$	49.99	889	$	45.34

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, 2013:

	Time-Vested			Market-Based Vested			Performance-Based Vested
	Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value
	(In thousands)			(In thousands)			(In thousands)
Nonvested stock outstanding at January 1	440	$	49.16	387	$	25.35	—	$	—
Granted	162	58.39		23	53.66		16	58.27
Vested	(58)	40.19		—	—		—	—
Forfeited	(10)	58.85		(205)	20.19		(1)	58.21
Nonvested stock outstanding at December 31	534	$	52.58	205	$	33.71	15	$	58.27

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	194	48.72
Exercised	(194)	48.72
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,
	2013	2012	2011
Option plans:
Expected dividends	2.1%	2.2%	2.2%
Expected volatility	35.1%	40.7%	38.7%
Risk-free rate	0.7%	0.6%	1.7%
Expected term in years	4.3 years	3.7 years	3.6 years
Grant-date fair value	$13.97	$14.07	$12.88
Purchase plan:
Expected dividends	2.2%	2.7%	2.4%
Expected volatility	28.0%	32.7%	32.8%
Risk-free rate	0.1%	0.1%	0.1%
Expected term in years	0.25 years	0.25 years	0.25 years
Grant-date fair value	$11.73	$9.53	$10.21