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Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Restricted Stock Awards |
Stock-Based Compensation arrangements |
Schedule of Restricted Stock Activity | The following table is a summary of restricted stock award activity for the year ended December 31, 2012:
Restricted Stock Awards |  | Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)(1) |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Outstanding at December 31, 2011 |  |  | 238,194 |  | $ | 18.35 |  |  |  |  |  |  |
Granted |  |  | 6,550 |  |  | 36.84 |  |  |  |  |  |  |
Vested |  |  | (201,400 | ) |  | 18.05 |  |  |  |  |  |  |
Forfeited |  |  | (7,590 | ) |  | 17.60 |  |  |  |  |  |  |
Outstanding at December 31, 2012 |  |  | 35,754 |  | $ | 23.64 |  |  | 0.8 |  | $ | 1,778 |
(1) The aggregate intrinsic value of restricted stock awards is calculated by multiplying the closing market price of the Company's stock on December 31, 2012 by the number of non-vested restricted stock awards outstanding.
Restricted Stock Units |
Stock-Based Compensation arrangements |
Schedule of Restricted Stock Activity | The following table is a summary of restricted stock unit activity for the year ended December 31, 2012:
Restricted Stock Units |  | Units |  | Weighted- Average Grant Date Fair Value per Unit |  | Weighted- Average Remaining Contractual Term (in years)(2) |  | Aggregate Intrinsic Value (in thousands)(1) |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Outstanding at December 31, 2011 |  |  | 343,654 |  | $ | 15.75 |  |  |  |  |  |  |
Granted and fully vested |  |  | 38,304 |  |  | 36.55 |  |  |  |  |  |  |
Issued |  |  | (124,224 | ) |  | 17.11 |  |  |  |  |  |  |
Forfeited |  |  | — |  |  | — |  |  |  |  |  |  |
Outstanding at December 31, 2012 |  |  | 257,734 |  | $ | 18.19 |  |  | — |  | $ | 12,820 |
(1) The aggregate intrinsic value of restricted stock units is calculated by multiplying the closing market price of the Company's stock on December 31, 2012 by the number of outstanding restricted stock units. (2) Due to the immediate vesting of the units and the unknown term of each director, the weighted-average remaining contractual term in years has been omitted from the table above.
Stock options |
Stock-Based Compensation arrangements |
Schedule of Stock Option Activity |
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Stock Options |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |
Outstanding at beginning of year |  |  | — |  | $ | — |  |  | 30,000 |  | $ | 11.90 |  |  | 100,000 |  | $ | 11.90 |
Granted |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised |  |  | — |  |  | — |  |  | (30,000 | ) |  | 11.90 |  |  | (70,000 | ) |  | 11.90 |
Forfeited or expired |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at December 31 |  |  | — |  | $ | — |  |  | — |  | $ | — |  |  | 30,000 |  | $ | 11.90 |
Options exercisable at December 31 |  |  | — |  | $ | — |  |  | — |  | $ | — |  |  | 30,000 |  | $ | 11.90 |
Stock Appreciation Rights |
Stock-Based Compensation arrangements |
Schedule of Value per Share and Assumptions Used |
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Weighted-average value per stock appreciation rights Granted during the period |  | $ | 16.31 |  | $ | 9.47 |  | $ | 9.48 |
Assumptions |  |  |  |  |  |  |  |  |  |
Stock price volatility |  |  | 55.3% |  |  | 52.7% |  |  | 52.9% |
Risk free rate of return |  |  | 0.9% |  |  | 2.3% |  |  | 2.4% |
Expected dividend yield |  |  | 0.3% |  |  | 0.3% |  |  | 0.3% |
Expected term (in years) |  |  | 5.0 |  |  | 5.0 |  |  | 5.0 |
Schedule of Stock Appreciation Rights Activity |
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Stock Appreciation Rights |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |
Outstanding at Beginning of Year |  |  | 1,288,130 |  | $ | 16.04 |  |  | 1,471,300 |  | $ | 15.27 |  |  | 1,346,200 |  | $ | 14.64 |
Granted |  |  | 120,442 |  |  | 35.18 |  |  | 191,500 |  |  | 20.37 |  |  | 159,100 |  |  | 20.27 |
Exercised |  |  | (547,350 | ) |  | 14.84 |  |  | (374,670 | ) |  | 15.22 |  |  | (34,000 | ) |  | 13.58 |
Forfeited or expired |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at December 31(1) |  |  | 861,222 |  | $ | 19.49 |  |  | 1,288,130 |  | $ | 16.04 |  |  | 1,471,300 |  | $ | 15.27 |
Exercisable at December 31(2) |  |  | 572,986 |  | $ | 15.94 |  |  | 902,664 |  | $ | 15.14 |  |  | 1,064,444 |  | $ | 14.82 |
(1) The intrinsic value of a SAR is the amount which the current market value of the underlying stock exceeds the exercise price of the SAR. The aggregate intrinsic value of SARs outstanding at December 31, 2012 was $26.1 million. The weighted-average remaining contractual term is 3.9 years. (2) The aggregate intrinsic value of SARs exercisable at December 31, 2012 was $19.4 million. The weighted-average remaining contractual term is 3.1 years.
Performance Share Awards |
Stock-Based Compensation arrangements |
Schedule of Performance Share Awards Activity |
Performance Share Awards |  | Shares |  | Weighted- Average Grant Date Fair Value per Share(1) |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)(2) |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Outstanding at December 31, 2011 |  |  | 2,441,566 |  | $ | 15.31 |  |  |  |  |  |  |
Granted |  |  | 518,602 |  |  | 33.62 |  |  |  |  |  |  |
Issued and fully vested |  |  | (1,358,564 | ) |  | 11.95 |  |  |  |  |  |  |
Forfeited |  |  | (42,850 | ) |  | 24.22 |  |  |  |  |  |  |
Outstanding at December 31, 2012 |  |  | 1,558,754 |  | $ | 24.08 |  |  | 1.1 |  | $ | 77,532 |
(1) The fair value figures in this table represent the fair value of the equity component of the performance share awards. (2) The aggregate intrinsic value of performance share awards is calculated by multiplying the closing market price of the Company's stock on December 31, 2012 by the number of non-vested performance share awards outstanding.
Performance Share Awards | Equity Component |
Stock-Based Compensation arrangements |
Schedule of Value per Share and Assumptions Used |
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Fair value per performance share award granted during the period |  | $ | 28.31 |  | $ | 15.62 |  | $ | 6.50 |
Assumptions |  |  |  |  |  |  |  |  |  |
Stock price volatility |  |  | 46.7% |  |  | 62.0% |  |  | 61.8% |
Risk free rate of return |  |  | 0.4% |  |  | 1.3% |  |  | 1.4% |
Expected dividend yield |  |  | 0.2% |  |  | 0.2% |  |  | 0.3% |
Performance Share Awards | Liability Component. |
Stock-Based Compensation arrangements |
Schedule of Value per Share and Assumptions Used |
|  | December 31,
--- | --- | ---
|  | 2012 |  | 2011 |  | 2010
Fair value per performance share award at the end of the period |  | $38.22 - $49.52 |  | $25.64 - $35.47 |  | $0.00 - $3.08
Assumptions |  |  |  |  |  |
Stock price volatility |  | 41.1% - 45.7% |  | 41.9% - 42.7% |  | 70.7% - 71.7%
Risk free rate of return |  | 0.2% - 0.3% |  | 0.1% - 0.3% |  | 0.3% - 0.4%
Expected dividend yield |  | 0.2% |  | 0.2% |  | 0.4%

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