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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2011
Share-Based Compensation [Abstract]  
Income tax benefit recognized for our share-based compensation arrangements

Compensation cost charged against income, primarily SG&A expense, and the income tax benefit recognized for our share-based compensation arrangements is included below:

 

                         
    Years Ended December 31,  
    2011     2010     2009  
    (In thousands)  

Total share-based compensation cost

  $ 11,241     $ 12,177     $ 11,748  

Income tax benefit

    4,372       4,736       3,536  
Fair values for SARs and stock options estimated on the grant date using the Black-Scholes-Merton option pricing formula which incorporates the assumptions

We recognize compensation cost for all awards based on their fair values. The fair values for SARs and stock options are estimated on the grant date using the Black-Scholes-Merton option-pricing formula which incorporates the assumptions noted in the following table. Expected volatility is based on historical volatility, and expected term is based on historical exercise patterns of option holders. The fair value of restricted stock units is the market price of our common stock on the date of grant. Compensation costs for awards with service conditions are amortized to expense using the straight-line method. Compensation costs for awards with performance conditions are amortized to expense using the graded attribution method.

 

                         
    Years Ended December 31,  
    2011     2010     2009  
    (In thousands, except weighted
average fair value and assumptions)
 

Weighted-average fair value of SARs and options granted

  $ 17.64     $ 10.47     $ 6.38  

Total intrinsic value of SARs converted and options exercised

    3,801       2,947       128  

Cash received for options exercised

    4,599       3,158       699  

Tax benefit (deficiency) related to share-based compensation

    1,790       (110     (1,564

Weighted-average fair value of restricted stock shares and units granted

    35.91       22.34       13.80  

Total fair value of restricted stock shares and units vested

    4,370       7,611       7,318  

Expected volatility

    52.00     50.89     48.44

Expected term (in years)

    6.1       6.1       6.1  

Risk-free rate

    2.49     2.89     2.21

Dividend yield

    0.56     0.91     1.50
Fair value of restricted stock shares and units is the market price of our common stock on the date of grant
                                                 
    SARs and Stock Options     Restricted Shares
and Units
 
    Number     Weighted-
Average
Exercise
Price
    Weighted-
Average
Remaining
Contractual
Term
    Aggregate
Intrinsic
Value
    Number     Weighted-
Average
Grant-Date
Fair Value
 
    (In thousands, except exercise prices, fair values, and contractual terms)  

Outstanding at January 1, 2011

    3,043     $ 25.26                       723     $ 20.96  

Granted

    538       35.79                       91       35.91  

Exercised or converted

    (346     19.52                       (197     21.78  

Forfeited or expired

    (111     34.98                       (35     19.47  
   

 

 

   

 

 

                   

 

 

   

 

 

 

Outstanding at December 31, 2011

    3,124     $ 27.37       6.4     $ 18,473       582     $ 23.11  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Vested or expected to vest at December 31, 2011

    3,097     $ 27.37       6.4     $ 18,541                  

Exercisable or convertible at December 31, 2011

    1,751       26.85       5.2       11,265