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SHARE-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2014
SHARE-BASED COMPENSATION PLANS |
Schedule of assumptions used for estimating the fair value of share options using the Black-Scholes option-pricing model |
Assumptions: |  | 2014 |  | 2013 |  | 2012 |
Risk-free interest rate |  | 1.9% |  | 1.0% |  | 2.0% |
Expected dividend yield |  | 3.2% |  | 3.3% |  | 4.5% |
Volatility (a) |  | 37.98% |  | 42.00% |  | 52.22% |
Weighted average expected life of the options (b) |  | 6.0 years |  | 6.0 years |  | 9.59 years |
Weighted average grant date fair value of options granted per share |  | $ | 4.33 |  | $ | 4.28 |  | $ | 3.94 |
| (a) |  | Expected volatility is based upon the level of volatility historically experienced.
| (b) |  | Expected life is based upon our expectations of share option recipients’ expected exercise and termination patterns.
Summary of option activity |
|  |  |  |  |  | Weighted Average |
|  | Number of Shares |  | Weighted Average |  | Remaining |
|  | Under Option |  | Strike Price |  | Contractual Term |
Balance at December 31, 2011 |  | 5,255,718 |  | $ | 10.35 |  | 6.33 |
Options granted |  | 222,421 |  | 11.48 |  | 9.14 |
Options canceled |  | (10,375 | ) | 9.01 |  | — |
Options exercised |  | (209,900 | ) | 7.89 |  | 6.08 |
Balance at December 31, 2012 |  | 5,257,864 |  | $ | 10.50 |  | 5.49 |
Options granted |  | 182,297 |  | 14.84 |  | 9.08 |
Options canceled |  | (24,000 | ) | 13.57 |  | — |
Options exercised |  | (511,548 | ) | 7.24 |  | 4.53 |
Balance at December 31, 2013 |  | 4,904,613 |  | $ | 10.99 |  | 4.66 |
Options granted |  | 223,590 |  | 15.73 |  | 9.08 |
Options canceled |  | (10,731 | ) | 17.38 |  | — |
Options exercised |  | (1,425,171 | ) | 9.69 |  | 3.21 |
Balance at December 31, 2014 |  | 3,692,301 |  | $ | 11.76 |  | 4.16 |
Vested or expected to vest at December 31, 2014 |  | 3,692,301 |  | $ | 11.76 |  | 4.16 |
Exercisable at December 31, 2014 |  | 3,271,474 |  | $ | 11.37 |  | 3.60 |
Schedule of non-vested restricted share activity |
|  | Number of Non- |
|  | Vested Restricted |
|  | Shares and Share Units |
Non-Vested at January 1, 2014 |  | 711,631 |
Granted |  | 194,495 |
Vested |  | (523,700 | )
Forfeited |  | (1,643 | )
Non-Vested at December 31, 2014 |  | 380,783 |

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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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