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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2011
Summary of Stock Options Issued under Various Stock Incentive Plans

A summary of stock options issued under the various Stock Incentive Plans previously described and changes is as follows:

 

September 30, September 30, September 30, September 30,
       Number of
Shares
     Weighted-
Average
Exercise
Price ($)
       Weighted-
Average
Remaining
Contractual
Term (Years)
       Aggregate
Intrinsic Value of
In-the-Money
Options ($)
 

Outstanding, December 31, 2008

       3,428,297       $ 21.69             

Granted

       505,183         16.17             

Exercised

       (150,134      12.06             

Forfeited

       (125,606      31.98             

Expired

       (100,867      29.82             
    

 

 

    

 

 

           

Outstanding, December 31, 2009

       3,556,873         20.72             

Granted

       338,950         24.48             

Exercised

       (235,986      13.34             

Forfeited

       (106,625      18.11             

Expired

       (42,674      30.31             
    

 

 

    

 

 

           

Outstanding, December 31, 2010

       3,510,538         21.55             

Granted

       367,202         28.95             

Exercised

       (361,093      12.40             

Forfeited

       (26,591      20.53             
    

 

 

    

 

 

      

 

 

      

 

 

 

Outstanding, December 31, 2011

       3,490,056       $ 23.28           5.37         $ 21,943,485   

Exercisable, December 31, 2011

       2,289,018       $ 22.88           4.62         $ 16,297,256   
    

 

 

    

 

 

      

 

 

      

 

 

 
Weighted-Average Assumptions used to Estimate Fair Value of Options Granted using Black-Scholes Option-Pricing Model

The fair value of options granted in the respective fiscal years was estimated on the date of grant using the Black-Scholes option-pricing model, a pricing model acceptable under ASC 718, with the following weighted-average assumptions:

 

September 30, September 30, September 30,
        Years Ended December 31,  
       2011     2010     2009  

Expected life (years)

       5.9        5.9        6.0   

Risk-free interest rate

       1.4     2.3     3.0

Expected volatility

       50.6     50.8     53.2

Expected dividend yield

       —          —         
Summary of Nonvested LTIP Performance Shares

A summary of the nonvested LTIP Performance Shares is as follows:

 

September 30, September 30,
       Number of      Weighted-  
       Shares at      Average  
       Expected      Grant Date  

Nonvested LTIP Performance Shares

     Attainment      Fair Value  

Nonvested at December 31, 2008

       —         $ —     

Granted

       216,150         16.52   
    

 

 

    

 

 

 

Nonvested at December 31, 2009

       216,150         16.52   

Granted

       207,180         26.29   

Forfeited or expired

       (25,620      16.52   

Change in expected attainment for 2009 grants

       101,325         16.52   
    

 

 

    

 

 

 

Nonvested at December 31, 2010

       499,035         20.57   

Granted

       237,751         28.94   

Forfeited or expired

       (36,682      18.92   

Change in expected attainment for 2009 and 2010 grants

       231,468         22.71   
    

 

 

    

 

 

 

Nonvested at December 31, 2011

       931,571       $ 23.33   
    

 

 

    

 

 

 
Summary of Nonvested RSAs

A summary of nonvested RSAs are as follows:

 

September 30, September 30,
       Restricted      Grant Date  

Nonvested Restricted Share Awards

     Share Awards      Fair Value  

Nonvested at December 31, 2008

       462,400       $ 17.97   

Granted

       23,500         16.65   

Vested

       (115,602      17.97   

Forfeited or expired

       (55,750      17.54   
    

 

 

    

 

 

 

Nonvested at December 31, 2009

       314,548         17.94   

Granted

       25,950         22.19   

Vested

       (95,014      17.81   

Forfeited or expired

       (53,186      18.52   
    

 

 

    

 

 

 

Nonvested at December 31, 2010

       192,298         18.42   

Granted

       6,300         28.95   

Vested

       (86,325      18.31   

Forfeited or expired

       (12,250      17.52   
    

 

 

    

 

 

 

Nonvested at December 31, 2011

       100,023       $ 19.29