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Share-based compensation (Tables) | 12 Months Ended
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Dec. 31, 2011
Share-based compensation |
Schedule of share-based compensation expense and related income tax benefit |
(in millions) |  | 2011 |  | 2010 |  | 2009 |
Share-based compensation expense 1 |  | $3.8 |  |  | $2.7 |  |  | $1.1 |  |
Income tax benefit |  | 1.3 |  |  | 0.9 |  |  | 0.3 |  |
1 The Company has not capitalized any share-based compensation cost.
Summary of information about nonqualified stock options |
|  | 2011 |  | 2010 |  | 2009 |
|  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |
Outstanding, January 1 |  | 215,500 |  |  | $20.76 |  | 374,500 |  |  | $19.73 |  | 375,500 |  |  | $19.73 |
Granted |  | – |  |  | – |  | – |  |  | – |  | – |  |  | – |
Exercised |  | (160,000 | ) |  | 20.70 |  | (157,000 | ) |  | 18.32 |  | – |  |  | – |
Forfeited |  | – |  |  | – |  | – |  |  | – |  | – |  |  | – |
Expired |  | – |  |  | – |  | (2,000 | ) |  | 20.49 |  | (1,000 | ) |  | 17.61 |
Outstanding, December 31 |  | 55,500 |  |  | $20.92 |  | 215,500 |  |  | $20.76 |  | 374,500 |  |  | $19.73 |
Exercisable, December 31 |  | 55,500 |  |  | $20.92 |  | 215,500 |  |  | $20.76 |  | 374,500 |  |  | $19.73 |
(1) Weighted-average exercise price
Schedule of nonqualified stock options by grant year |
December 31, 2011 | Outstanding & Exercisable (Vested) |
Year of Grant |  | Range of exercise prices | Number of options | Weighted-average remaining contractual life | Weighted-average exercise price |
2002 | $ 21.68 | 20,000 | 0.3 | $21.68 |
2003 | 20.49 | 35,500 | 1.0 | 20.49 |
| $20.49 – 21.68 | 55,500 | 0.7 | $20.92 |
Schedule of nonqualified stock options activity and statistics |
(dollars in thousands) |  | 2011 |  | 2010 |  | 2009 |
Cash received from exercise |  | $3,312 |  | $2,876 |  | – |
Intrinsic value of shares exercised 1 |  | 1,270 |  | 1,355 |  | – |
Tax benefit realized for the deduction of exercises |  | 181 |  | 278 |  | – |
1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalents exceeds the exercise price of the option.
Summary of information about stock appreciation rights |
|  | 2011 |  | 2010 |  | 2009 |
|  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |
Outstanding, January 1 |  | 450,000 |  |  | $26.13 |  | 480,000 |  |  | $26.13 |  | 791,000 |  |  | $26.12 |
Granted |  | – |  |  | – |  | – |  |  | – |  | – |  |  | – |
Exercised |  | (110,000 | ) |  | 26.09 |  | – |  |  | – |  | – |  |  | – |
Forfeited |  | – |  |  | – |  | – |  |  | – |  | (6,000 | ) |  | 26.18 |
Expired |  | (58,000 | ) |  | 26.13 |  | (30,000 | ) |  | 26.18 |  | (305,000 | ) |  | 26.10 |
Outstanding, December 31 |  | 282,000 |  |  | $26.14 |  | 450,000 |  |  | $26.13 |  | 480,000 |  |  | $26.13 |
Exercisable, December 31 |  | 282,000 |  |  | $26.14 |  | 450,000 |  |  | $26.13 |  | 480,000 |  |  | $26.13 |
(1) Weighted-average exercise price
Schedule of stock appreciation rights by grant year |
December 31, 2011 | Outstanding & Exercisable (Vested) |
Year of Grant |  | Range of exercise prices | Number of shares underlying SARs | Weighted-average remaining contractual life | Weighted-average exercise price |
2004 | $ 26.02 | 72,000 | 2.3 | $26.02 |
2005 | 26.18 | 210,000 | 2.6 | 26.18 |
| $26.02 –26.18 | 282,000 | 2.5 | $26.14 |
Schedule of stock appreciation rights activity and statistics |
(dollars in thousands, except prices) |  | 2011 |  | 2010 |  | 2009 |
Shares vested |  | – |  | – |  | 228,000 |
Aggregate fair value of vested shares |  | – |  | – |  | $1,354 |
Intrinsic value of shares exercised 1 |  | $64 |  | – |  | – |
Tax benefit realized for the deduction of exercises |  | $25 |  | – |  | – |
Dividend equivalent shares distributed under Section 409A |  | – |  | – |  | 3,143 |
Weighted-average Section 409A distribution price |  | – |  | – |  | $13.64 |
Intrinsic value of shares distributed under Section 409A |  | – |  | – |  | $43 |
Tax benefit realized for Section 409A distributions |  | – |  | – |  | $17 |
1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalents exceeds the exercise price of the right.
Schedule of restricted share and stock awards |
|  | 2011 |  | 2010 |  | 2009 |
|  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |
Outstanding, January 1 |  | 89,709 |  |  | $24.64 |  | 129,000 |  |  | $25.50 |  | 160,500 |  |  | $25.51 |
Granted |  | – |  | – |  | 18,009 | (2) |  | 22.21 |  | – |  |  | – |
Vested |  | (40,102 | ) |  | 24.83 |  | (43,565 | ) |  | 26.29 |  | (3,851 | ) |  | 24.52 |
Forfeited |  | (2,800 | ) |  | 24.93 |  | (13,735 | ) |  | 24.35 |  | (27,649 | ) |  | 25.67 |
Outstanding, December 31 |  | 46,807 |  |  | $24.45 |  | 89,709 |  |  | $24.64 |  | 129,000 |  |  | $25.50 |
(1) Weighted-average grant-date fair value per share. The grant date fair value of a restricted stock award share was the closing or average price of HEI common stock on the date of grant. (2) Total weighted-average grant-date fair value of $0.4 million.
Schedule of restricted stock units |
|  | 2011 |  | 2010 |  | 2009 |
|  | Shares |  |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |
Outstanding, January 1 |  | 146,500 |  |  | $19.80 |  | 70,500 |  |  | $16.99 |  | – |  | – |
Granted |  | 101,786 | (2) |  | 24.68 |  | 77,500 | (3) |  | 22.30 |  | 70,500(4) |  | $16.99 |
Vested |  | – |  | – |  | (250 | ) |  | 16.99 |  | – |  | – |
Forfeited |  | (1,000 | ) |  | 22.60 |  | (1,250 | ) |  | 16.99 |  | – |  | – |
Outstanding, December 31 |  | 247,286 |  |  | $21.80 |  | 146,500 |  |  | $19.80 |  | 70,500 |  | $16.99 |
(1) Weighted-average grant-date fair value per share. The grant date fair value of the restricted stock units was the average price of HEI common stock on the date of grant. (2) Total weighted-average grant-date fair value of $2.5 million. (3) Total weighted-average grant-date fair value of $1.7 million. (4) Total weighted-average grant-date fair value of $1.2 million.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders |
|  | 2011 |  | 2010 |  | 2009 |
|  | Shares |  |  | (1) |  | Shares |  |  | (1) |  | Shares |  | (1) |
Outstanding, January 1 |  | 126,782 |  |  | $20.33 |  | 36,198 |  |  | $14.85 |  | – |  | – |
Granted |  | 75,015 | (2) |  | 35.46 |  | 97,191 | (3) |  | 22.45 |  | 36,198 | (4) | $14.85 |
Vested |  | – |  |  | – |  | – |  |  | – |  | – |  | – |
Forfeited |  | (4,412 | ) |  | 29.56 |  | (6,607 | ) |  | 21.53 |  |  |  |  |
Outstanding, December 31 |  | 197,385 |  |  | $25.94 |  | 126,782 |  |  | $20.33 |  | 36,198 |  | $14.85 |
(1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model. (2) Total weighted-average grant-date fair value of $2.7 million. (3) Total weighted-average grant-date fair value of $2.2 million. (4) Total weighted-average grant-date fair value of $0.5 million.
Schedule of assumptions used to determine the fair value of Long-Term Incentive Plan (LTIP) linked to total return to shareholders (TRS) |
|  | 2011 |  | 2010 |  | 2009 |
Risk-free interest rate |  | 1.25% |  | 1.30% |  | 1.30% |
Expected life in years |  | 3 |  | 3 |  | 3 |
Expected volatility |  | 27.8% |  | 27.9% |  | 23.7% |
Range of expected volatility for Peer Group |  | 21.2% to 82.6% |  | 22.3% to 52.3% |  | 20.8% to 46.9% |
Grant date fair value (per share) |  | $35.46 |  | $22.45 |  | $14.85 |
Schedule of Long-Term Incentive Plan (LTIP) linked to other performance conditions |
|  | 2011 |  | 2010 |  | 2009 |
|  | Shares |  |  | (1) |  | Shares |  |  | (1) |  | Shares |  | (1) |
Outstanding, January 1 |  | 161,310 |  |  | $18.66 |  | 24,131 |  |  | $16.99 |  | – |  | – |
Granted |  | 113,831 |  |  | 24.96 |  | 160,939 | (2) |  | 18.95 |  | 24,131 | (3) | $16.99 |
Vested |  | – |  |  | – |  | – |  |  | – |  | – |  | – |
Cancelled |  | (81,908 | ) |  | 18.38 |  | – |  |  | – |  | – |  | – |
Forfeited |  | (10,735 | ) |  | 20.12 |  | (23,760 | ) |  | 18.90 |  | – |  | – |
Outstanding, December 31 |  | 182,498 |  |  | $22.63 |  | 161,310 |  |  | $18.66 |  | 24,131 |  | $16.99 |
(1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. (2) Total weighted-average grant-date fair value of $3.0 million. (3) Total weighted-average grant-date fair value of $0.4 million.

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