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STOCK-BASED COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2012
Summary of Stock Option Plan Activity

Information on the Company’s stock option plans is summarized below.

 

FOR THE YEARS ENDED DECEMBER 31    2012      2011      2010  
(in whole shares and dollars)    Shares     Weighted
Average
Exercise Price
     Shares     Weighted
Average
Exercise Price
     Shares     Weighted
Average
Exercise Price
 

Outstanding, beginning of year

     2,715,430     $ 38.57        2,843,909     $ 39.22        3,131,142     $ 39.16  

Granted

     529,500       36.84        297,000       46.47        412,250       42.72  

Exercised

     (90,624     25.47        (120,064     32.82        (326,823     36.88  

Forfeited or cancelled

     (101,574     41.45        (49,165     41.67        (247,260     44.49  

Expired

     (159,850     44.05        (256,250     57.00        (125,400     44.91  

Outstanding, end of year

     2,892,882     $ 38.28        2,715,430     $ 38.57        2,843,909     $ 39.22  

Exercisable, end of year

     1,630,382     $ 37.18        1,686,930     $ 37.69        2,037,159     $ 39.74  
Schedule Of Employee Options Outstanding And Exercisable

Additional information about employee options outstanding and exercisable at December 31, 2012 is included in the following table:

 

      Options Outstanding      Options Currently Exercisable  
Range of Exercise Prices    Number      Weighted
Average
Remaining
Contractual
Lives
     Weighted
Average
Exercise
Price
     Number      Weighted
Average
Exercise
Price
 

$14.94 to $28.88

     263,195        0.65        23.37        263,195      $ 23.37   

$30.29 to $34.19

     387,750        6.15        34.11        189,500      $ 34.11   

$35.00 to $36.50

     362,913        2.03        36.17        362,913      $ 36.17   

$36.81

     496,500        9.06        36.81                  

$36.88 to $41.10

     369,195        1.45        36.95        357,195      $ 36.90   

$42.15 to $44.88

     301,423        6.91        42.35        21,673      $ 44.87   

$45.21 to $46.47

     318,500        7.69        46.27        50,000      $ 45.21   

$46.28 to $48.46

     393,406        4.11        47.84        385,906      $ 47.85   
Assumptions Used To Determine The Fair Value For Options Granted

The following significant assumptions were used to determine the fair value for options granted in the years indicated.

 

      2012     2011     2010  

Dividend yield

     3.13% to 3.26     2.152     1.68% to 2.37

Expected volatility

     32.86% to 35.27     31.53% - 33.30     32.45% to 39.18

Weighted average expected volatility

     34.05     32.42     33.50

Risk-free interest rate

     0.61% - 1.06     2.00% - 2.35     0.87% to 2.70

Expected term, in years

     4.5 to 5.5        4.5 to 5.5        2.5 to 5.5   
Summary Of Restricted Stock Activity

The following table summarizes information about employee restricted stock units.

 

FOR THE YEARS ENDED DECEMBER 31    2012      2011      2010  
      Shares     Weighted
Average
Grant
Date Fair
Value
     Shares     Weighted
Average
Grant
Date Fair
Value
     Shares     Weighted
Average
Grant
Date Fair
Value
 

Time-based restricted stock units:

              

Outstanding, beginning of year

     768,529     $ 40.17        838,129     $ 40.93        700,904     $ 41.12  

Granted

     174,841       37.01        198,957       42.08        367,197       42.77  

Vested

     (137,194     36.19        (230,613     44.40        (118,730     47.92  

Forfeited

     (55,339     40.47        (37,944     41.23        (111,242     40.73  

Outstanding, end of year

     750,837     $ 40.15        768,529     $ 40.17        838,129     $ 40.93  

Performance and market-based restricted stock units:

              

Outstanding, beginning of year

     69,500     $ 45.37        101,680     $ 39.62        145,635     $ 42.79  

Granted

     96,150       36.91        42,500       46.47        41,250       42.15  

Vested

                    (27,059     45.21        (31,558     48.46  

Forfeited

     (32,875     43.28        (47,621     34.16        (53,647     44.97  

Outstanding, end of year

     132,775     $ 39.97        69,500     $ 45.37        101,680     $ 39.62