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

A summary of stock option activity under the 2001 Plan as of December 31, 2012, and changes during 2012, is as follows:

 

     Options     Weighted-
Average

Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term

(in years)
     Aggregate
Intrinsic
Value
 

Options outstanding at January 1, 2012

     385,150      $ 47.82         

Granted

     80,500        71.52         

Exercised

     (135,500     41.63         

Forfeited

     (5,000     55.04         

Expired

     (1,000     37.28         
  

 

 

   

 

 

       

Options outstanding at December 31, 2012

     324,150      $ 56.21         2.94       $ 6,060   
  

 

 

   

 

 

    

 

 

    

 

 

 

Options exercisable at December 31, 2012

     57,567      $ 28.62         1.35       $ 2,664   
  

 

 

   

 

 

    

 

 

    

 

 

 
Summary of Non-Vested (Restricted) Stock Activity

A summary of non-vested (restricted) stock activity as of December 31, 2012, and changes during 2012, is shown below:

 

     Shares      Weighted-
Average

Grant
Date Fair
Value
 

Non-vested (restricted) stock outstanding at January 1, 2012

     2,261,948       $ 37.23   

Granted

     111,301         69.66   

Vested

     —           —     

Forfeited

     —           —     
  

 

 

    

 

 

 

Non-vested (restricted) stock outstanding at December 31, 2012

     2,373,249       $ 38.75   
  

 

 

    

 

 

 
Weighted-Average Assumptions Relating to Valuation of Our Stock Options

The weighted-average assumptions relating to the valuation of our stock options were as follows:

 

Years Ended December 31,

   2012     2011     2010  

Expected term in years

     4.25        4.25        4.25   

Risk-free interest rate

     0.57     1.12     1.14

Expected volatility

     31.40     32.59     33.35

Expected dividend yield

     3.49     3.48     3.65