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Share Capital (Tables)
 12 Months Ended
Dec. 31, 2013
Stockholders' Equity Note [Abstract]  
Summary of ordinary shares issued and outstanding
The following table is a summary of ordinary shares issued and outstanding:
(in thousands)
2013
 
2012
Balance – beginning of year
298,682

 
315,646

Exercise of options
927

 
383

Net issuance of restricted shares
1,240

 
959

Share buybacks (1)
(22,596
)
 
(18,306
)
Balance – end of year
278,253

 
298,682

____________
(1)
Includes share buybacks associated with authorized share buyback programs as well as purchases related to satisfying tax withholding obligations of employees in connection with the vesting of restricted shares granted under the Company’s equity compensation programs.
Weighted average option pricing assumptions
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
 
2013
 
2012
 
2011
Dividend yield
2.00
%
 
1.90
%
 
1.90
%
Risk free interest rate
1.14
%
 
1.15
%
 
2.60
%
Volatility
37.0
%
 
46.0
%
 
50.0
%
Expected lives
6.0 years

 
6.0 years

 
6.0 years
Summary of options and options activity
The following is a summary of the stock option plans for the indicated years ended December 31:
(U.S. Dollars in thousands except for numbers of options, weighted average grant date fair value)
2013
 
2012
 
2011
Options granted to purchase ordinary shares under directors and employees incentive compensation plans - in thousands
1,047

 
1,209

 
974

Weighted average grant date fair value
$
8.34

 
$
7.65

 
$
9.81

Total intrinsic value of stock options exercised
$
16,076

 
$
3,357

 
$
301

Options exercised during the year - in thousands
927

 
383

 
72

Compensation expense related to stock option plans
$
8,294

 
$
7,716

 
$
11,848

Estimated tax benefit related to stock option plans
$
50

 
$
26

 
$
722

The following is a summary of the stock options at December 31, 2013, and related activity for the year then ended for the Company:
(U.S. Dollars in thousands, except for number of shares, exercise price and term)
Number of Shares (in thousands)
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
Outstanding – beginning of year
12,091

 
$
38.50

 
5.0 years
 
$
46,803

Granted
1,047

 
28.64

 
 
 
 
Exercised
(927
)
 
13.62

 
 
 
 
Canceled/Expired
(1,088
)
 
66.48

 
 
 
 
Outstanding – end of year
11,123

 
$
36.91

 
4.8 years
 
$
74,927

Options exercisable
9,032

 
$
39.67

 
3.9 years
 
$
60,593

Available for grant (1)
13,057

 
 
 
 
 
 
 
(1) Available for grant includes shares that may be granted as either stock options, restricted stock, restricted stock units or performance units.
Summary of restricted stock and non-vested restricted stock activity
A summary of the restricted stock awards issued under the 1991 Performance Incentive Program and the Directors Stock and Option Plan for the indicated years ended December 31 is as follows:
(In thousands except for weighted average grant date fair value)
2013
 
2012
 
2011
Restricted ordinary shares granted
181

 
325

 
49

Weighted average grant date fair value
$
29.44

 
$
20.92

 
$
23.33

Aggregate grant date fair value
$
5,325

 
$
6,811

 
$
1,140

Compensation expense related to restricted stock awards
$
4,419

 
$
5,399

 
$
7,101

Estimated tax benefit related to restricted stock awards
$
1,047

 
$
1,113

 
$
1,546

Non-vested restricted stock awards at December 31, 2013 and for the year then ended for the Company were as follows:
(In thousands except for weighted average grant date fair value)
Number of
Shares
 
Weighted
Average Grant
Date Fair Value
Unvested at December 31, 2012
550

 
$
33.34

Granted
181

 
$
29.44

Vested
(134
)
 
$
25.27

Forfeited
(4
)
 
$
42.48

Unvested at December 31, 2013
593

 
$
33.92
Summary of restricted stock units and restricted stock unit activity
Non-vested restricted stock units as of December 31, 2013 and for the year then ended for the Company were as follows:
(In thousands except for weighted average grant date fair value)
Number of
Shares
 
Weighted
Average Grant
Date Fair Value
Unvested at December 31, 2012
2,446

 
$
21.04

Granted
1,803

 
$
28.75

Vested
(1,187
)
 
$
20.75

Forfeited
(131
)
 
$
23.95

Unvested at December 31, 2013
2,931

 
$
25.77

A summary of the restricted stock units issued to officers of the Company and its subsidiaries for the indicated years ended December 31 is as follows:
(In thousands)
2013
 
2012
 
2011
Restricted stock units granted
1,803

 
1,312

 
1,318

Aggregate grant date fair value
$
51,829

 
$
27,194

 
$
30,027

Compensation expense related to restricted stock units
$
32,874

 
$
24,451

 
$
15,033

Estimated tax benefit related to restricted stock units
$
8,813

 
$
6,501

 
$
3,998
Summary of performance units and performance units activity
A summary of the performance units issued to certain employees of the Company for the indicated years ended December 31 is as follows:
(In thousands)
2013
 
2012
 
2011
Performance units granted
656

 
1,527

 
1,289

Potential maximum share payout
1,312

 
3,054

 
2,578

Aggregate grant date fair value
$
17,753

 
$
29,537

 
$
28,544

Compensation expense related to performance units
$
1,041

 
$
9,919

 
$
7,242

Estimated tax benefit (charge) related to performance units
$
(176
)
 
$
1,943

 
$
1,419

Non-vested restricted performance units as of December 31, 2013 were as follows:
(In thousands except for weighted average grant date fair value)
Number of
Shares
 
Weighted
Average Grant
Date Fair Value
Unvested at December 31, 2012
2,556

 
$
20.07

Granted
656

 
$
27.05

Vested
(291
)
 
$
17.20

Forfeited
(79
)
 
$
21.97

Performance driven reduction
(1,155
)
 
$
20.36

Unvested at December 31, 2013
1,687

 
$
22.99