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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Share-based Compensation [Abstract]  
Target grants performance share
Target grants of performance shares outstanding at December 31, 2013, were as follows:

Grant Date
Performance Period
Target Grant of Shares

February 2011
2011-2013
254,514

February 2012
2012-2014
251,196

March 2013
2013-2015
244,281

Schedule of share-based payment award, performance shares, valuation assumptions
Assumptions used for grants of performance shares issued in 2013, 2012 and 2011 were:

 
 
 
2013

 
 
2012

 
 
2011

Grant-date fair value
 
 

$29.01

 
 

$17.18

 
 

$19.99

Blended volatility range
16.10
%
-
19.39
%
24.29
%
-
25.81
%
23.20
%
-
32.18
%
Risk-free interest rate range
.09
%
-
.40
%
.10
%
-
.35
%
.09
%
-
1.34
%
Discounted dividends per share
 
 

$2.12

 
 

$1.19

 
 

$1.23

Summary of the status of the performance share awards
A summary of the status of the performance share awards for the year ended December 31, 2013, was as follows:
 
Number of
Shares

Weighted Average Grant-Date Fair Value

Nonvested at beginning of period
786,136

$
18.17

Granted
264,614

29.01

Vested


Forfeited
(300,759
)
18.20

Nonvested at end of period
749,991

$
21.99