Share Plans (Tables)

12 Months Ended

Dec. 31, 2013

The weighted-average assumptions used in the Black-Scholes-Merton option pricing model for 2013, 2012 and 2011 are as follows:

	2013			2012			2011
Weighted average grant date fair value	$	16.30		$	12.13		$	11.10

Assumptions:
Expected stock price volatility		47	%		45	%		50	%
Risk free interest rate		1.21	%		1.22	%		2.69	%
Expected annual dividend per share	$	-		$	-		$	-
Expected life of options (years)		6.25			6.25			6.5

A summary of the Company’s stock option activity and related information for the three years ended December 31, 2013 is as follows:

	Number of Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value ($ in thousands)
Outstanding as of December 31, 2010		4,236,259			13.02		9.1	$	13,349
Granted		179,877			21.26
Exercised		(107,591	)		13.00
Expired		-			-
Forfeited		-			-
Outstanding as of December 31, 2011		4,308,545			13.36		8.2	$	63,193
Granted		256,112			21.28
Exercised		(1,113,827	)		13.21
Expired		-			-
Forfeited		(10,788	)		20.52
Outstanding as of December 31, 2012		3,440,042			14.38		9.0	$	68,549
Granted		253,857			35.04
Exercised		(703,326	)		6.05
Expired		(1,625	)		20.94
Forfeited		(51,647	)		17.02
Outstanding as of December 31, 2013		2,937,301			5.74		9.5	$	148,369
Exercisable as of December 31, 2013		802,034			2.82		9.5	$	42,856

A summary of the Company's restricted share awards activity for the three years ended December 31, 2013 is as follows:

Non-vested Stock Awards	Shares			Weighted-Average Grant-Date Fair Value
Non-vested as of December 31, 2010		430,155		$	13.02
Granted		59,147			20.59
Vested		-			-
Forfeited		-			-
Non-vested as of December 31, 2011		489,302		$	13.93
Granted		195,771			26.94
Vested		-			-
Forfeited		(20,002	)	$	11.96
Non-vested as of December 31, 2012		665,071		$	17.75
Granted		112,494			37.82
Vested		(450,537	)		14.21
Forfeited		(22,622	)		25.36
Non-vested as of December 31, 2013		304,406		$	29.68