XML 61 R35.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCK-BASED COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2012
Schedule of Assumptions Used in Black-Scholes Option-Pricing Model

Compensation costs for stock options have been estimated on the grant date using the Black-Scholes option-pricing method. The weighted average assumptions used in the Black-Scholes option-pricing model are as follows:

 

     Year ended December 31,  
             2012                      2011                      2010          

Dividend yield

     2.0%         2.2%         4.4

Expected volatility

     43.3%         42.4%         41.6

Risk-free interest rate

     1.1%         2.7%         2.8

Expected option term (years)

     6.0 years         6.0 years         6.0 years   
Summary of Activity Related to Company's Restricted Stock

A summary of the activity related to the Company’s restricted stock for the years ended December 31, 2012, 2011 and 2010 is as follows:

 

     Year ended December 31,  
     2012      2011      2010  
           Weighted-Avg.            Weighted-Avg.            Weighted-Avg.  
           Grant-Date            Grant-Date            Grant-Date  
             Shares             Fair Value              Shares             Fair Value              Shares             Fair Value  

Unvested share, beginning of period

     84      $     29         129      $     19         132      $     21   

Granted (1)

     59        45         52        38         98        20   

Vested

     (78     30         (97     21         (101     22   
  

 

 

      

 

 

      

 

 

   

Unvested shares, end of period

                 65        42                     84        29                     129        19   
  

 

 

      

 

 

      

 

 

   

 

(1)

The total value of the restricted share grants in 2012, 2011 and 2010 was $2,657, $2,012 and $2,002, respectively.

Summary of Stock Option Activity Under All Plans

A summary of stock option activity under all plans in 2012, 2011 and 2010, is presented below:  

     Year ended December 31,  
     2012      2011      2010  
             Shares             Exercise
Price
             Shares             Exercise
Price
             Shares             Exercise
Price
 

Options outstanding, beginning of period

     1,501      $     31         2,068      $     31         2,516      $     31   

Granted

     29        44         25        37         66        18   

Exercised

     (845     30         (582     30         (267     20   

Expired

     -        -         (10     39         (247     38   
  

 

 

      

 

 

      

 

 

   

Options outstanding, end of period (1)

     685        34         1,501        31         2,068        31   
  

 

 

      

 

 

      

 

 

   

Options exercisable, end of period (1)

     617        34         1,348        33         1,834        33   
  

 

 

      

 

 

      

 

 

   

Options vested and expected to vest, end of period (1)

     682        34         1,494        31         2,057        31   
  

 

 

      

 

 

      

 

 

   

Weighted average fair value of options granted during the period

   $         15.18         $         13.18         $         5.08     
  

 

 

      

 

 

      

 

 

   
(1)

At December 31, 2012, the aggregate intrinsic value of stock options outstanding, exercisable and vested/expected to vest was $11,066, $9,988 and $11,008, respectively. At that same date, the weighted average remaining contractual lives of stock options outstanding, exercisable and vested/expected to vest was 3.8 years, 3.4 years and 3.8 years, respectively.

Schedule of Outstanding Options into Two Ranges, Based on Exercise Prices

At December 31, 2012, the Company segregated its outstanding options into two ranges, based on exercise prices, as follows:  

Option Ranges

   Options Outsanding      Options Exercisable  
     Shares      Weighted Avg.
Exercise Price
     Weighted Avg. Life
(Years)
     Shares      Weighted Avg.
Exercise Price
 

$12.22 - $32.53

     343       $     24         3.7         322       $     25   

$34.90 - $48.00

     342         43         4.3         295         44   
  

 

 

          

 

 

    

Total

     685         34         3.8         617         34