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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2012
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Note 5. Stockholders’ Equity Our authorized, issued, and, outstanding shares (stated in whole numbers) at year end consist of the following:
| Par Value |  | 2012 |  | 2011
Preferred Stock | .01/share |  |  |  |
Authorized |  |  | 5,000,000 |  |  | 5,000,000 |
Shares issued and outstanding |  |  | — |  |  | — |
Common Stock | .01/share |  |  |  |
Authorized |  |  | 400,000,000 |  |  | 400,000,000 |
Shares issued and outstanding |  |  | 296,564,382 |  |  | 295,258,674 |
Dividends On January 16, 2013, our board of directors declared a quarterly dividend of $0.10 per share of common stock to be paid in cash on March 1, 2013 to shareholders of record at the close of business on February 1, 2013. We paid aggregate annual dividends per share of $1.24, $0.65, and $0.62 in 2012, 2011, and 2010, respectively. Stock Options The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used to value these grants. All options granted were effective at the close of business on the date of grant.
| Options granted |  | Option exercise (strike) price |  | Closing stock price on date of grant |  | December 31, 2012
Date of grant | Options outstanding |  | Options vested
April 17, 2012 | 1,235,000 |  |  | $ | 54.00 |  |  | $ | 49.01 |  |  | 1,177,500 |  |  | — |
April 19, 2011 | 410,000 |  |  | $ | 35.00 |  |  | $ | 31.78 |  |  | 380,000 |  |  | — |
April 20, 2010 | 530,000 |  |  | $ | 30.00 |  |  | $ | 27.13 |  |  | 380,000 |  |  | — |
April 21, 2009 | 790,000 |  |  | $ | 27.00 |  |  | $ | 17.61 |  |  | 540,000 |  |  | — |
April 15, 2008 | 550,000 |  |  | $ | 27.00 |  |  | $ | 24.35 |  |  | 286,167 |  |  | 116,167 |
April 17, 2007 | 4,380,000 |  |  | $ | 22.50 |  |  | $ | 20.15 |  |  | 2,072,125 |  |  | 1,052,625 |
Total | 7,895,000 |  |  |  |  |  |  | 4,835,792 |  |  | 1,168,792 |
Date of grant | Risk-free interest rate |  | Expected life of option in years |  | Expected dividend yield |  | Expected stock volatility |  | Estimated fair value of stock option
April 17, 2012 | 0.9 | % |  | 5.00 |  |  | 1.4 | % |  | 39.25 | % |  | $ | 13.69 |
April 19, 2011 | 2.1 | % |  | 5.00 |  |  | 1.6 | % |  | 39.33 | % |  | $ | 11.20 |
April 20, 2010 | 2.6 | % |  | 5.00 |  |  | 1.5 | % |  | 39.10 | % |  | $ | 8.14 |
April 21, 2009 | 1.9 | % |  | 5.00 |  |  | 1.0 | % |  | 38.80 | % |  | $ | 3.64 |
April 15, 2008 | 2.7 | % |  | 5.00 |  |  | 1.0 | % |  | 30.93 | % |  | $ | 7.75 |
April 17, 2007 | 4.6 | % |  | 4.85 |  |  | 1.0 | % |  | 31.59 | % |  | $ | 5.63 |
All of the options in the tables above vest and become exercisable over a period of up to eight years. Each option will terminate, to the extent not previously exercised, 13 months after the end of the relevant vesting period. The fair value of each share-based option was estimated on the date of grant using a Black-Scholes valuation method that uses the assumptions listed above. The expected life is the average length of time over which we expect the employee groups will exercise their options, which is based on historical experience with similar grants. Expected volatilities are based on the movement of our stock over the most recent historical period equivalent to the expected life of the option. The risk-free interest rate is based on the U.S. Treasury rate over the expected life at the time of grant. The dividend yield is estimated over the expected life based on our current dividend payout, historical dividends paid, and expected future cash dividends. A summary of the activity under our stock option plan is as follows:
| Options outstanding |  | Exercise Price 1 |  | Remaining Life 2
Outstanding as of January 1, 2012 | 5,132,750 |  |  | $ | 24.92 |  |  | 4.72 |
Granted | 1,235,000 |  |  | $ | 54.00 |  |  | 8.41 |
Exercised/earned | (1,305,708 | ) |  | $ | 22.70 |  |  |
Cancelled/forfeited | (226,250 | ) |  | $ | 34.12 |  |  |
Outstanding as of December 31, 2012 | 4,835,792 |  |  | $ | 32.51 |  |  | 5.40 |
Exercisable as of December 31, 2012 | 1,168,792 |  |  | $ | 22.95 |  |  | 3.45 |
| Options outstanding |  | Exercise Price 1 |  | Remaining Life 2
Outstanding as of January 1, 2011 | 5,320,000 |  |  | $ | 24.03 |  |  | 5.50 |
Granted | 410,000 |  |  | $ | 35.00 |  |  | 7.93 |
Exercised/earned | (397,250 | ) |  | 22.50 |  |  |
Cancelled/forfeited | (200,000 | ) |  | $ | 26.78 |  |  |
Outstanding as of December 31, 2011 | 5,132,750 |  |  | $ | 24.92 |  |  | 4.72 |
Exercisable as of December 31, 2011 | 1,852,750 |  |  | $ | 22.50 |  |  | 3.16 |
1 | Weighted-average exercise price
2 | Weighted-average remaining contractual life in years
The total intrinsic value of stock options exercised during the years ended December 31, 2012, 2011, and 2010 was $34,424, $4,977, and $0, respectively. The intrinsic value represents the difference between the exercise price and fair value of the underlying shares at a specified date. At December 31, 2012, there was $20,131 of total unrecognized compensation cost related to unvested stock options granted under the plan. The cost is expected to be recognized over a weighted average period of 4.69 years. The total fair value of shares vested under our stock option plan during 2012, 2011, and 2010 was $3,866, $9,168, and $1,125, respectively. Total stock-based compensation expense related to our stock option plan was $4,800, $4,050, and $4,030 for 2012, 2011, and 2010, respectively. Earnings Per Share The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summary of the options to purchase shares of common stock which were excluded from the diluted earnings calculation because they were anti-dilutive:
Reconciliation | 2012 |  | 2011 |  | 2010
Basic-weighted average shares outstanding | 296,089,348 |  |  | 295,053,790 |  |  | 294,861,424 |
Weighted shares assumed upon exercise of stock options | 1,061,602 |  |  | 814,936 |  |  | — |
Diluted-weighted average shares outstanding | 297,150,950 |  |  | 295,868,726 |  |  | 294,861,424 |
Summary of anti-dilutive options excluded | 2012 |  | 2011 |  | 2010
Options to purchase shares of common stock | 847,254 |  |  | 704,384 |  |  | 5,328,246 |
Weighted-average exercise prices of options | $ | 54.00 |  |  | 32.05 |  |  | 23.94 |
Any dilutive impact summarized above would relate to periods when the average market price of our stock exceeded the exercise price of the potentially dilutive option securities then outstanding.

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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