Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2013

Stock-Based Compensation Plans

Schedule of information with respect to stock options granted

Information with respect to stock options granted under the 2009 and 1994 Plans is as follows (dollars in thousands, other than per share amounts):

	2009 Plan shares			Weighted average exercise price per share		1994 Plan shares			Weighted average exercise price per share
Options Outstanding, December 31, 2010		126,484		$	74.20		2,072,217		$	88.50
Exercised		(23,908	)		75.75		(930,391	)		82.43
Granted		144,827			115.83		—			—
Forfeited		—			—		(28,867	)		68.29
Options Outstanding, December 31, 2011		247,403		$	98.42		1,112,959		$	94.10
Exercised		(43,265	)		85.09		(364,519	)		68.21
Granted		115,303			133.16		—			—
Forfeited		(11,887	)		115.15		(28,610	)		139.58
Options Outstanding, December 31, 2012		307,554		$	112.67		719,830		$	105.40
Exercised		(19,949	)		84.43		(24,292	)		79.42
Granted		215,230			129.03		—			—
Forfeited		(1,267	)		131.56		(4,012	)		127.56
Options Outstanding, December 31, 2013		501,568		$	120.77		691,526		$	106.19
Options Exercisable:
December 31, 2011		30,771		$	81.54		1,012,304		$	98.62
December 31, 2012		74,618		$	97.46		719,830		$	105.40
December 31, 2013		184,167		$	107.18		691,526		$	106.19

Summary of exercise prices and contractual lives of options outstanding

The following summarizes the exercise prices and contractual lives of options outstanding as of December 31, 2013:

2009 Plan Number of Options	Range—Exercise Price	Weighted Average Remaining Contractual Term (in years)
53,836	$70.00 - $79.99		6.1
124,414	110.00 - 119.99		7.1
75,059	120.00 - 129.99		9.2
246,760	130.00 - 139.99		8.6
1,499	140.00 - 149.99		8.5
501,568

1994 Plan Number of Options	Range—Exercise Price	Weighted Average Remaining Contractual Term (in years)
88,323	$40.00 - $49.99		3.5
41,556	60.00 - 69.99		1.1
730	70.00 - 79.99		1.5
104,013	80.00 - 89.99		4.1
174,323	90.00 - 99.99		2.1
282,581	140.00 - 149.99		3.1
691,526

Summary of weighted average fair value of employee stock options and associated assumptions used to calculate the value

	2013			2012			2011
Weighted average fair value per share	$	26.78		$	29.11		$	29.40
Life of options (in years)		5.0			5.0			7.0
Dividend yield		3.7	%		3.5	%		4.0	%
Volatility		34.00	%		35.00	%		35.00	%
Risk-free interest rate		0.91	%		0.87	%		3.04	%