STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2012

A summary of the Company’s stock option activity and related information follows:


	Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
								(In thousands)
Outstanding at December 31, 2009		1,973,301			20.92
Exercised		(394,420	)		19.01
Forfeited		(10,497	)		24.62

Outstanding at December 31, 2010		1,568,384			21.38
Exercised		(343,685	)		20.34

Outstanding at December 31, 2011		1,224,699			21.64
Exercised		(944,869	)		21.06
Forfeited		(1,250	)		23.09

Outstanding and exercisable at December 31, 2012		278,580		$	23.65		1.3	$	4,130

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity follows:


	2012						2011						2010
	Shares			Fair Market Value at Date of Grant			Shares			Fair Market Value at Date of Grant			Shares			Fair Market Value at Date of Grant
	(Dollars in thousands)
Restricted stock at January 1		1,817,745		$	40,655			1,478,000		$	30,600			1,235,505		$	24,718
Granted		394,928			10,846			575,694			16,005			573,440			12,693
Vested		(429,034	)		(9,722	)		(229,979	)		(5,816	)		(318,350	)		(6,563	)
Cancellations		(11,975	)		(257	)		(5,970	)		(134	)		(12,595	)		(248	)

Restricted stock at December 31		1,771,664		$	41,522			1,817,745		$	40,655			1,478,000		$	30,600

Compensation Expense For Stock Options and Restricted Stock

Compensation expense for both stock options, which were fully vested at June 30, 2010, and restricted stock recognized in the consolidated statements of income for the years ended December 31, 2012, 2011 and 2010 was as follows:


	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Stock options	$	—		$	—		$	226
Restricted stock		11,687			9,736			6,780

Impact on income before income taxes		11,687			9,736			7,006
Income tax benefit		(4,543	)		(3,784	)		(2,721	)

Impact on net income	$	7,144		$	5,952		$	4,285