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Stock-Based Compensation | 12 Months Ended
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Dec. 31, 2011
Stock-Based Compensation [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Stock-Based Compensation Stock Incentive Plan Under the M/I Homes, Inc. 2009 Long-Term Incentive Plan (the "2009 LTIP"), the Company is permitted to grant (1) nonqualified stock options to purchase common shares, (2) incentive stock options to purchase common shares, (3) stock appreciation rights, (4) restricted common shares, (5) other stock-based awards – awards that are valued in whole or in part by reference to, or otherwise based on, the fair market value of the common shares, and (6) cash-based awards to its officers, employees, non-employee directors and other eligible participants. The 2009 LTIP replaced the M/I Homes, Inc. 1993 Stock Incentive Plan as Amended (the "1993 Plan"), which expired by its terms April 22, 2009. Awards outstanding under the 1993 Plan remain in effect in accordance with their respective terms. Stock options are granted at the market price of the Company’s common shares at the close of business on the date of grant. Options awarded generally vest 20% annually over five years and expire after ten years. Under the 1993 Plan, in the case of termination due to death or disability, or in the case of a change in control of the Company, all options will become immediately exercisable. Under the 2009 LTIP, in the case of termination due to death, disability or retirement, all options will become immediately exercisable. Shares issued upon option exercise may consist of treasury shares, authorized but unissued common shares or common shares purchased by or on behalf of the Company in the open market. Following is a summary of stock option activity for the year ended December 31, 2011, relating to the stock options awarded under the 2009 LTIP and the 1993 Plan:
| Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (a) (In thousands)
Options outstanding at December 31, 2010 | 1,962,983 |  |  | $ | 23.31 |  |  | 6.56 |  |  | $ | 4,445 |
Granted | 318,200 |  |  | 14.08 |  |  |  |  |
Exercised | (190,090 | ) |  | 7.89 |  |  |  |  |
Forfeited | (114,869 | ) |  | 15.57 |  |  |  |  |
Options outstanding at December 31, 2011 | 1,976,224 |  |  | $ | 23.76 |  |  | 5.99 |  |  | $ | 493 |
Options vested or expected to vest at December 31, 2011 | 1,945,011 |  |  | $ | 23.93 |  |  | 5.97 |  |  | $ | 480 |
Options exercisable at December 31, 2011 | 1,362,124 |  |  | $ | 28.51 |  |  | 5.06 |  |  | $ | 341 |
(a)Intrinsic value is defined as the amount by which the fair value of the underlying common shares exceeds the exercise price of the option. The aggregate intrinsic value of options exercised during the years ended December 31, 2011, 2010 and 2009 was $1.1 million, less than $0.1 million and $0.1 million, respectively. The fair value of our five-year service stock options granted during the years ended December 31, 2011, 2010 and 2009 was established at the date of grant using the Black-Scholes pricing model, with the weighted average assumptions as follows:
| Year Ended December 31,
| 2011 | 2010 | 2009
Expected dividend yield | — | % |  | — | % |  | — | %
Risk-free interest rate | 2.39 | % |  | 2.29 | % |  | 1.99 | %
Expected volatility | 48.00 | % |  | 45.70 | % |  | 44.66 | %
Expected term (in years) | 5.5 |  |  | 5.5 |  |  | 6.0 |
Weighted average grant date fair value of options granted during the period | $ | 6.58 |  |  | $ | 5.84 |  |  | $ | 3.54 |
The fair value of our two-year bonus stock options granted during the years ended December 31, 2010 and 2009, was established at the date of grant using the Black-Scholes pricing model, with the weighted average assumptions as follows:
| Year Ended December 31,
| 2011 | 2010 | 2009
Risk-free interest rate | — |  | 2.29 | % | 1.99 | %
Expected volatility | — |  | 45.70 | % | 45.70 | %
Expected term (in years) | — |  | 4.5 |  | 5.0 |
Weighted average grant date fair value of options granted during the period | $ | — |  | $ | 5.31 |  | $ | 3.30 |
The risk-free interest rate was based upon the U.S. Treasury constant maturity rate at the date of the grant. Expected volatility is based on an average of (1) historical volatility of the Company’s stock and (2) implied volatility from traded options on the Company’s stock. The risk-free rate for periods within the contractual life of the stock option award is based on the yield curve of a zero-coupon U.S. Treasury bond on the date the stock option award is granted, with a maturity equal to the expected term of the stock option award granted. The Company uses historical data to estimate stock option exercises and forfeitures within its valuation model. The expected life of stock option awards granted is derived from historical exercise experience under the Company’s share-based payment plans, and represents the period of time that stock option awards granted are expected to be outstanding. Total compensation expense that has been charged against income relating to the 2009 LTIP and the 1993 Plan was $1.9 million, $2.8 million and $3.1 million for the years ended December 31, 2011, 2010 and 2009, respectively. As of December 31, 2011, there was a total of $3.4 million of unrecognized compensation expense related to unvested stock option awards that will be recognized as compensation expense as the awards vest over a weighted average period of 2.0 years for the service awards. There was $0.2 million of excess tax benefits from stock-based payment arrangements for the year ended December 31, 2011, and less than $0.1 million and $0.1 million of excess tax deficiency from stock-based payment arrangements for the years ended December 31, 2010 and 2009, respectively. On May 5, 2009, the Company’s Board of Directors terminated the M/I Homes, Inc. 2006 Director Equity Incentive Plan (the “Director Equity Plan”). Awards outstanding under the Director Equity Plan remain in effect in accordance with their respective terms. At December 31, 2011, there were 20,136 units outstanding under the Director Equity Plan with a value of $0.6 million. In May 2011, the Company awarded 6,000 stock units under the 2009 LTIP. One stock unit is the equivalent of one common share. Stock units and the related dividends will be converted to common shares upon termination of service as a director. These stock units vest immediately; therefore, compensation expense relating to the stock units issued in May 2011 was recognized entirely on the grant date. The amount of expense per stock unit was equal to the $12.49 closing price of the Company’s common shares on the date of grant, resulting in expense totaling $0.1 million for the year ended December 31, 2011. In 2010, the Company awarded 6,000 stock units under the 2009 LTIP, resulting in expense totaling $0.1 million for the year ended December 31, 2010. In 2009, the Company awarded 6,000 stock units under the 2009 LTIP, resulting in expense totaling $0.1 million for the year ended December 31, 2009. Deferred Compensation Plans As of December 31, 2011, the Company also has an Amended and Restated Executives' Deferred Compensation Plan and an Amended and Restated Director Deferred Compensation Plan (together the “Plans”), which provide an opportunity for the Company’s directors and certain eligible employees of the Company to defer a portion of their cash compensation to invest in the Company’s common shares. Compensation expense deferred into the Plans totaled $0.1 million for the year ended December 31, 2011 and $0.2 million for both the years ended December 31, 2010 and 2009. The portion of cash compensation deferred by employees and directors under the Plans is invested in fully-vested equity units in the Plans. One equity unit is the equivalent of one common share. Equity units and the related dividends will be converted and distributed to the employee or director in the form of common shares at the earlier of his or her elected distribution date or termination of service as an employee or director of the Company. Distributions from the Plans totaled $0.3 million, $0.1 million and $0.4 million, respectively, during the years ended December 31, 2011, 2010 and 2009. As of December 31, 2011, there were a total of 110,699 equity units with a value of $2.2 million, outstanding under the Plans. The aggregate fair market value of these units at December 31, 2011, based on the closing price of the underlying common shares, was approximately $1.1 million, and the associated deferred tax benefit the Company would recognize if the outstanding units were distributed was $1.1 million as of December 31, 2011. Common shares are issued from treasury shares upon distribution of deferred compensation from the Plans.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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