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STOCK-BASED COMPENSATION PLANS (Tables)
6 Months Ended
Jun. 30, 2014
Postemployment Benefits [Abstract]  
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:

 

     Six months ended
June 30,
 
     2014     2013  

Dividend yield

     2.8     2.0

Expected volatility

     43.0     43.1

Risk-free interest rate

     1.8     1.1

Expected option term (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 six months ended June 30, 2014 and 2013 is as follows:

 

     Six months ended June 30,  
     2014      2013  
     Shares     Weighted-Avg.
Grant-Date
Fair Value
     Shares     Weighted-Avg.
Grant-Date
Fair Value
 

Unvested shares, beginning of period

     75      $ 48         65      $ 42   

Granted (1)

     55        47         65        50   

Vested

     (1     12         (3     37   
  

 

 

      

 

 

   

Unvested shares, end of period

     129        48         127        46   
  

 

 

      

 

 

   

 

(1) The total value of the restricted share grants for the six months ended June 30, 2014 and 2013 was $2,566 and $3,271, respectively.
Summary of Stock Option Activity Under All Plans

A summary of stock option activity under all plans for the six months ended June 30, 2014 and 2013, is presented below:

 

     Six months ended June 30,  
     2014      2013  
     Shares     Exercise
Price
     Shares     Exercise
Price
 

Options outstanding, beginning of period

     539      $ 36         685      $ 34   

Granted

     35        47         29        50   

Exercised

     (201     34         (44     28   
  

 

 

      

 

 

   

Options outstanding, end of period (1)

     373        38         670        35   
  

 

 

      

 

 

   

Options exercisable, end of period (1)

     311        36         613        34   
  

 

 

      

 

 

   

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

     371        38         667        35   
  

 

 

      

 

 

   

Weighted average fair value of options granted during the period

   $ 15.21         $ 17.26     
  

 

 

      

 

 

   

 

(1) At June 30, 2014, the aggregate intrinsic value of stock options outstanding, exercisable and vested/expected to vest was $5,757, $5,387 and $5,741, respectively. At that same date, the weighted average remaining contractual lives of stock options outstanding, exercisable and vested/expected to vest was 4.5 years, 3.6 years and 4.5 years, respectively.
Schedule of Outstanding Options into Two Ranges, Based on Exercise Prices

At June 30, 2014, the Company segregated its outstanding options into two ranges, based on exercise prices, as follows:

 

Option Ranges

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

$12.22 - $44.05

     199       $ 29         4.2         190       $ 29   

$45.70 - $50.30

     174         48         4.9         121         48   
  

 

 

          

 

 

    

Total

     373         38         4.5         311         36