Stock-Based Compensation

3 Months Ended

Mar. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

A combined summary of activity in the Corporation’s active stock-based compensation plans is presented in the following table.



				Non-Vested Stock Awards/Stock Units Outstanding			Stock Options Outstanding
	Shares Available for Grant		Director Deferred Stock Units Outstanding	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares		Weighted- Average Exercise Price
Balance, January 1, 2014	2,862,603		33,224	199,740	$	55.32	4,738,690		$	54.35
Authorized	—		—	—	—		—		—
Granted	(5,000	)	—	—	—		5,000		77.53
Stock options exercised	—		—	—	—		(329,825	)	52.39
Stock awards vested	—		—	—	—		—		—
Forfeited	20,350		—	—	—		(20,350	)	55.69
Canceled/expired	—		—	—	—		—		—
Balance, March 31, 2014	2,877,953		33,224	199,740	$	55.32	4,393,515		$	54.52

Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:



	Three Months Ended March 31,
	2014		2013
New shares issued from available authorized shares	—		153,275
Issued from available treasury stock	329,825		242,150
Total	329,825		395,425

Proceeds from stock option exercises	$	17,279	$	20,446

Stock-based compensation expense is recognized ratably over the requisite service period for all awards. Stock-based compensation expense was as follows:



	Three Months Ended March 31,
	2014		2013
Stock options	$	1,770	$	1,998
Non-vested stock awards/stock units	366		344
Deferred stock units	—		—
Total	$	2,136	$	2,342

Unrecognized stock-based compensation expense at March 31, 2014 was as follows:



Stock options	$	14,478
Non-vested stock awards/stock units	2,463
Total	$	16,941

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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