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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2013
Summary of Restricted Stock Activity


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

 

     2013     2012  
     Shares     Fair Market
Value at
Date of
Grant		     Shares     Fair Market
Value at
Date of
Grant		  
(Dollars in thousands)                         

Restricted stock outstanding at January 1

      1,771,664      $ 41,522        1,817,745      $ 40,655   

Granted

      234,537        11,211        394,928        10,846   

Vested

      (600,088 )      (11,686 )      (405,309 )      (9,185 ) 

Cancellations

      (32,360 )      (795 )      (8,945 )      (188 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Restricted stock outstanding at September 30

      1,373,753      $ 40,252        1,798,419      $ 42,128   
  

 

 

    

 

 

    

 

 

    

 

 

  

Summary of Performance Unit Activity

A summary of the Company’s performance unit activity follows:

 

     2013  
(Dollars in thousands)    Units      Fair Market
Value at
Date of
Grant		  

Performance units at January 1

      —        $ —    

Granted

      70,600         3,377   
  

 

 

     

 

 

  

Performance units at September 30

      70,600       $ 3,377   
  

 

 

     

 

 

  
Compensation Expense for Restricted Stock Recognized in Condensed Consolidated Statements of Income

Compensation expense for share-based awards recognized in the condensed consolidated statements of income for the three- and nine-month periods ended September 30, 2013 and 2012 was as follows:

 

     Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
     2013     2012     2013     2012  
(In thousands)                         

Impact on income before income taxes

    $ (3,182 )    $ (2,746 )    $ (9,956 )    $ (8,477 ) 

Income tax benefit

      1,237        1,068        3,868        3,296   
  

 

 

    

 

 

    

 

 

    

 

 

  

Impact on net income

    $ (1,945 )    $ (1,678 )    $ (6,088 )    $ (5,181 )