Shareholders' Equity

12 Months Ended

Dec. 31, 2011

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

Stockholders' Equity Note Disclosure [Text Block]

Shareholders’ Equity

Stock-based Compensation: We maintain our Amended and Restated 1999 Equity Incentive Plan which provides for the issuance of restricted stock, restricted stock units and stock options to eligible employees and to members of our Board of Directors. Beginning in 2011, the Company issued restricted stock units to eligible employees in lieu of restricted stock. As of December 31, 2011, no stock options had been issued to employees. A total of 4,250,000 shares of our common stock have been reserved for issuance of which approximately 1,220,847 remained available as of December 31, 2011.

Restricted Stock Units and Restricted Stock: As noted above, restricted stock units and restricted stock can be issued to eligible employees and members of our Board of Directors. Restricted stock units and restricted stock are issued for services to be rendered and may not be sold, transferred or pledged for such a period as determined by our Compensation Committee. Restricted stock unit and restricted stock compensation cost is measured at our common stock’s fair value based on the market price at the date of grant. We recognize compensation cost only for restricted stock units and restricted stock that will ultimately vest. We estimate the number of shares that will ultimately vest at each grant date based on our historical experience and adjust compensation cost based on changes in those estimates over time.

Restricted stock unit and restricted stock compensation cost is recognized ratably over the shorter of the vesting period (generally three years) or the period from grant date to the first maturity date after the holder reaches age 62 and has completed certain specified years of service, when all restricted stock becomes fully vested. Vesting of restricted stock is not subject to any market or performance conditions and vesting provisions are at the discretion of the Compensation Committee. An employee may not sell or otherwise transfer unvested stock and, in the event employment is terminated prior to the end of the vesting period, any unvested units or stock are surrendered to us. We have no obligation to purchase restricted stock units or restricted stock.

In 2011, restricted stock units were granted to a select group of employees and to our Board of Directors. As of December 31, 2011, there were 410,531 restricted stock units outstanding. Compensation cost related to restricted stock units was approximately $3.0 million ($2.2 million net of tax) for the year ended December 31, 2011. The grant date fair value of restricted stock vested during the year ended December 31, 2011 was approximately $1.7 million. As of December 31, 2011, there was $6.5 million of unrecognized compensation cost related to restricted stock units which will be recognized over a remaining weighted-average period of 1.2 years.

A summary of the changes in our restricted stock during the years endedDecember 31, 2011, 2010 and 2009 is as follows (shares in thousands):

December 31,	2011				2010				2009
	Shares		Weighted-Average Grant-Date Fair Value per Share		Shares		Weighted-Average Grant-Date Fair Value per Share		Shares		Weighted-Average Grant-Date Fair Value per Share
Outstanding, beginning balance	855		$	38.23	991		$	40.31	830		$	37.83
Granted	—		—		285		28.30		504		40.42
Vested	(368	)	39.25		(350	)	36.16		(277	)	33.22
Forfeited	(15	)	39.62		(71	)	37.62		(66	)	41.29
Outstanding, ending balance	472		$	37.39	855		$	38.23	991		$	40.31

Compensation cost related to restricted stock was approximately $9.1 million ($6.7 million net of tax), $13.0 million ($7.7 million net of tax) and $10.8 million ($7.8 million net of tax) for the years endedDecember 31, 2011, 2010 and 2009, respectively. The grant date fair value of restricted stock vested during the years endedDecember 31, 2011, 2010 and 2009 was approximately $14.4 million, $12.7 million and $9.2 million, respectively. As of December 31, 2011 there was $4.5 million of unrecognized compensation cost related to restricted stock which will be recognized over a remaining weighted-average period of 1.0 years.

Stock Options: In 2011, no stock options were granted. As of December 31, 2011, there were 30,710 stock options outstanding.

Employee Stock Ownership Plan: Effective January 1, 2007, our Employee Stock Ownership Plan (“ESOP”) was amended to effectively freeze the plan. Under the amended plan, no new participants were added and no further contributions were made for the years endedDecember 31, 2011, 2010 and 2009. As of December 31, 2011, the ESOP owned 3,069,988 shares of our common stock. Dividends on shares held by the ESOP are charged to retained earnings and all shares held by the ESOP are treated as outstanding in computing our earnings per share.

Employee Stock Purchase Plan: In 2010, our Board of Directors approved the Employee Stock Purchase Plan (“ESPP”). Effective January 1, 2011, our ESPP allows qualifying employees to purchase shares of our common stock through payroll deductions of up to 15% of their compensation, subject to Internal Revenue Code limitations, at a price of 95% of the fair market value as of the end of each of the six-month offering periods. During the year ended December 31, 2011, proceeds from the ESPP were $0.3 million for 13,027 shares. The offering periods commence on May 15 and November 15 of each year, except for the first offering period, which commenced on January 15, 2011.

Share Purchase Program: In 2007, our Board of Directors authorized us to purchase up to $200.0 million of our common stock at management’s discretion. Under this purchase program, the Company may purchase shares from time to time on the open market or in private transactions. The specific timing and amount of purchases will vary based on market conditions, securities law limitations and other factors. Purchases under the share purchase program may be commenced, suspended or discontinued at any time and from time to time without prior notice. The purchase price of our common stock purchased and retired in excess of par value is allocated between additional paid-in capital and retained earnings. During 2011, 2010 and 2009, we did not purchase shares under the share purchase program. At December 31, 2011, $64.1 million of the $200.0 million authorization was available for additional share purchases.