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Share-Based Compensation and Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2013
Summary of Stock Option Activity

The following is a summary of stock option activity under the 2001 Plan as of and for the year ended December 31, 2013:

 

     Options     Weighted-
Average
Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term

(in years)
     Aggregate
Intrinsic
Value
 

Options outstanding at December 31, 2012

     324,150      $ 56.21         

Granted

     30,000        82.32         

Exercised

     (79,450     34.65         

Forfeited

     (7,000     65.31         

Expired

     —          —           
  

 

 

   

 

 

       

Options outstanding at December 31, 2013

     267,700      $ 65.30         2.65       $ 8,234   
  

 

 

   

 

 

    

 

 

    

 

 

 

Options exercisable at December 31, 2013

     50,784      $ 60.13         2.12       $ 1,824   
  

 

 

   

 

 

    

 

 

    

 

 

 
Summary of Non-Vested (Restricted) Stock Activity

The following is a summary of non-vested (restricted) stock activity as of and for the year ended December 31, 2013:

 

     Shares     Weighted-
Average
Grant Date
Fair Value
 

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

     2,373,249      $ 38.75   

Granted

     124,043        80.21   

Forfeited

     (10,000     68.36   
  

 

 

   

 

 

 

Non-vested (restricted) stock outstanding at December 31, 2013

     2,487,292      $ 40.70   
  

 

 

   

 

 

 
Weighted-Average Assumptions Relating to Valuation of Our Stock Options

The following table presents the weighted-average assumptions used for stock options granted:

 

Years Ended December 31,

   2013     2012     2011  

Expected term in years

     4.25        4.25        4.25   

Risk-free interest rate

     0.82     0.57     1.12

Expected volatility

     24.56     31.40     32.59

Expected dividend yield

     2.20     3.49     3.48

Grant date fair value

   $ 13.33      $ 12.90      $ 12.31   
Share-Based Compensation Expense

The following table provides information on share-based compensation expense:

 

Years Ended December 31,

   2013      2012      2011  

Stock options

   $ 884       $ 846       $ 612   

Non-vested (restricted) stock

     9,083         7,093         6,051   
  

 

 

    

 

 

    

 

 

 

Share-based compensation expense

   $ 9,967       $ 7,939       $ 6,663