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Share Plans
9 Months Ended
Sep. 30, 2013
Share Plans [Abstract]  
Share Plans
12. Share Plans

During the nine months ended September 30, 2013, approximately 442,000 restricted stock awards vested. As permitted by the Company’s equity incentive plan, these restricted stock awards were net-share settled such that the Company withheld shares with a value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes.  In effect, the Company repurchased, and classified as treasury stock, 163,099 of the issued shares at fair value (total cost of $6,552), and used the cash on behalf of the employees to satisfy the tax withholding requirements.  This tax amount, together with an additional $5,916 of taxes paid related to the net share settlement of stock option exercises during the nine months ended September 30, 2013, is reflected as a cash outflow in the financing section of the condensed consolidated statement of cash flows.

Excess tax benefits of $9,491 were recorded during the first three quarters of 2013 as a result of the stock activity discussed above. This amount is reflected as a cash inflow in the financing section of the condensed consolidated statement of cash flows.