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SHARE-BASED AWARDS (Tables) | 12 Months Ended
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Dec. 31, 2010
SHARE-BASED AWARDS [Abstract] |
Valuation Assumptions | The weighted average grant-date fair values of the options granted during 2010, 2009, and 2008 were $6.59, $2.79, and $7.88, respectively, per option, using the range of assumptions provided in the table below:
|  | 2010 |  |  | 2009 |  |  | 2008 |
Expected volatility |  |  | 28.8 | % |  |  | 24.8 | % |  |  | 19.5%-19.8 | %
Expected term (in years) |  |  | 5.8 |  |  |  | 5.8 |  |  |  | 5.8 |
Risk-free interest rate |  |  | 2.7 | % |  |  | 1.9 | % |  |  | 3.1%-3.5 | %
Dividend yield |  |  | 3.8 | % |  |  | 5.4 | % |  |  | 2.6 | %
Stock Option Activity | The following table summarizes 2010 stock option activity for the Company's plans (in thousands, except exercise price amounts):
|  |  |  |  |  |  |  |  |  |  |  |  |  | Weighted |  |  | Weighted |  |  |  |
|  |  |  |  | 1998 |  |  | 1998 |  |  |  |  |  | Average |  |  | Average |  |  | Aggregate |
|  | 2007 |  |  | Employee |  |  | Director |  |  | Total |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | Plan |  |  | Plan |  |  | Plan |  |  | Shares |  |  | Price |  |  | Life |  |  | Value |
Outstanding January 1, 2010 |  |  | 958 |  |  |  | 1,291 |  |  |  | 196 |  |  |  | 2,445 |  |  | $ | 36.80 |  |  |  |  |  |  |
Granted |  |  | 425 |  |  |  | -- |  |  |  | -- |  |  |  | 425 |  |  | $ | 33.01 |  |  |  |  |  |  |
Exercised |  |  | (20 | ) |  |  | (225 | ) |  |  | (6 | ) |  |  | (251 | ) |  | $ | 26.75 |  |  |  |  |  |  |
Forfeited and expired |  |  | (31 | ) |  |  | (11 | ) |  |  | -- |  |  |  | (42 | ) |  | $ | 40.38 |  |  |  |  |  |  |
Outstanding December 31, 2010 |  |  | 1,332 |  |  |  | 1,055 |  |  |  | 190 |  |  |  | 2,577 |  |  | $ | 37.10 |  |  |  | 5.5 |  |  | $ | 15,839 |
Vested or expected to vest |  |  | 1,319 |  |  |  | 1,055 |  |  |  | 190 |  |  |  | 2,564 |  |  | $ | 37.10 |  |  |  | 5.5 |  |  | $ | 15,681 |
Exercisable December 31, 2010 |  |  | 453 |  |  |  | 1,055 |  |  |  | 190 |  |  |  | 1,698 |  |  | $ | 39.91 |  |  |  | 4.4 |  |  | $ | 7,542 |
Non-Vested Common Stock and Restricted Stock Unit Activity | The following table summarizes 2010 non-vested common stock and restricted stock unit activity (in thousands, except weighted-average, grant-date fair value amounts):
|  |  |  |  |  |  |  | Predecessor |  |  |  |
|  | 2007 |  |  |  |  |  | Plans |  |  |  |
|  | Plan |  |  | Weighted |  |  | Non-Vested |  |  | Weighted |
|  | Restricted |  |  | Average |  |  | Common |  |  | Average |
|  | Stock |  |  | Grant-Date |  |  | Stock |  |  | Grant-Date |
|  | Units |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
January 1, 2010 |  |  | 427 |  |  | $ | 27.06 |  |  |  | 15 |  |  | $ | 48.19 |
Granted |  |  | 187 |  |  | $ | 33.51 |  |  |  | -- |  |  |  | -- |
Vested |  |  | (93 | ) |  | $ | 32.28 |  |  |  | (15 | ) |  | $ | 48.19 |
Forfeited |  |  | (191 | ) |  | $ | 23.76 |  |  |  | -- |  |  |  | -- |
Outstanding December 31, 2010 |  |  | 330 |  |  | $ | 31.15 |  |  |  | -- |  |  |  | -- |
Summary of Compensation Cost and Other Measures Related to Share-Based Payments | A summary of the compensation cost and other measures related to share-based payments is as follows (in millions):
|  | 2010 |  |  | 2009 |  |  | 2008 |
Share-based expense (net of estimated forfeitures): |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | 2 |  |  | $ | 4 |  |  | $ | 3 |
Non-vested stock & restricted stock units |  |  | 6 |  |  |  | 5 |  |  |  | 8 |
Total share-based expense |  |  | 8 |  |  |  | 9 |  |  |  | 11 |
Total recognized tax benefit |  |  | (3 | ) |  |  | (3 | ) |  |  | (3 | )
Share-based expense (net of tax) |  | $ | 5 |  |  | $ | 6 |  |  | $ | 8 |
Cash received upon option exercise |  | $ | 7 |  |  | $ | -- |  |  | $ | 2 |
Intrinsic value of options exercised |  | $ | 2 |  |  | $ | -- |  |  | $ | 1 |
Tax benefit realized upon option exercise |  | $ | 1 |  |  | $ | -- |  |  | $ | 1 |
Fair value of stock vested |  | $ | 4 |  |  | $ | 3 |  |  | $ | 13 |

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- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. Also includes disclosures of other measures related to share-based payments, including, but not limited to, cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the intrinsic value of stock options exercised during the period. + References No definition available. + 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 -Topic 718 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (c)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -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 -Topic 718 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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