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Share-based compensation (Tables) | 6 Months Ended
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Jun. 30, 2012
Share-based compensation |
Schedule of share-based compensation expense and related income tax benefit |
|  | Three months ended June 30 |  | Six months ended June 30 |
(in millions) |  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Share-based compensation expense (1) |  | $ | 1.7 |  | $ | 0.5 |  | $ | 3.5 |  | $ | 1.7 |
Income tax benefit |  | 0.6 |  | 0.1 |  | 1.2 |  | 0.5 |
(1) The Company has not capitalized any share-based compensation cost.
Schedule of nonqualified stock options by grant year |
June 30, 2012 |  | Outstanding & Exercisable (Vested) |
Year of grant |  | Range of exercise prices |  | Number of options |  | Weighted-average remaining contractual life |  | Weighted-average exercise price |
2003 |  | $ | 20.49 |  | 22,000 |  | 0.7 |  | $ | 20.49 |
Schedule of nonqualified stock options activity and statistics |
|  | Three months ended June 30 |  | Six months ended June 30 |
(dollars in thousands, except prices) |  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Shares exercised |  | 21,500 |  | 69,500 |  | 33,500 |  | 102,000 |
Weighted-average exercise price |  | $ | 20.93 |  | $ | 21.07 |  | $ | 21.20 |  | $ | 20.82 |
Cash received from exercise |  | $ | 450 |  | $ | 1,465 |  | $ | 710 |  | $ | 2,123 |
Intrinsic value of shares exercised (1) |  | $ | 174 |  | $ | 581 |  | $ | 265 |  | $ | 840 |
Tax benefit realized for the deduction of exercises |  | $ | 68 |  | $ | 170 |  | $ | 103 |  | $ | 271 |
(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.
Schedule of stock appreciation rights by grant year |
June 30, 2012 |  | 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 |  | 62,000 |  | 1.8 |  | $ | 26.02 |
2005 |  | 26.18 |  | 108,000 |  | 2.7 |  | 26.18 |
|  | $ | 26.02 – 26.18 |  | 170,000 |  | 2.4 |  | $ | 26.12 |
Schedule of stock appreciation rights activity and statistics |
|  | Three months ended June 30 |  | Six months ended June 30 |
(dollars in thousands, except prices) |  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Shares underlying SARS expired |  | — |  | 4,000 |  | — |  | 40,000 |
Weighted-average price of shares expired |  | — |  | $ | 26.18 |  | — |  | $ | 26.11 |
Shares underlying SARS exercised |  | 112,000 |  | — |  | 112,000 |  | — |
Intrinsic value of shares exercised (1) |  | $ | 194 |  | — |  | $ | 194 |  | — |
Tax benefit realized for the deduction of exercises |  | $ | 76 |  | — |  | $ | 76 |  | — |
(1) Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalent rights exceeds the exercise price of the right.
Schedule of restricted share and stock awards |
|  | Three months ended June 30 |  | Six months ended June 30 |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
|  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |
Outstanding, beginning of period |  | 38,107 |  | $ | 23.83 |  | 88,709 |  | $ | 24.63 |  | 46,807 |  | $ | 24.45 |  | 89,709 |  | $ | 24.64 |
Granted |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Vested |  | (23,300 | ) | 24.71 |  | (29,800 | ) | 26.03 |  | (32,000 | ) | 25.38 |  | (29,800 | ) | 26.03 |
Forfeited |  | — |  | — |  | (1,000 | ) | 24.68 |  | — |  | — |  | (2,000 | ) | 25.02 |
Outstanding, end of period |  | 14,807 |  | $ | 22.45 |  | 57,909 |  | $ | 23.91 |  | 14,807 |  | $ | 22.45 |  | 57,909 |  | $ | 23.91 |
(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.
Schedule of restricted stock units |
|  | Three months ended June 30 |  | Six months ended June 30 |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
|  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |
Outstanding, beginning of period |  | 318,551 |  | $ | 22.80 |  | 230,517 |  | $ | 21.69 |  | 247,286 |  | $ | 21.80 |  | 146,500 |  | $ | 19.80 |
Granted |  | 2,334 | (2) | 26.75 |  | 1,000 | (3) | 26.25 |  | 94,846 | (4) | 26.00 |  | 86,017 | (5) | 24.97 |
Vested |  | (250 | ) | 26.25 |  | — |  | — |  | (21,497 | ) | 24.97 |  | — |  | — |
Forfeited |  | (1,564 | ) | 25.53 |  | — |  | — |  | (1,564 | ) | 25.53 |  | (1,000 | ) | 22.60 |
Outstanding, end of period |  | 319,071 |  | $ | 22.81 |  | 231,517 |  | $ | 21.70 |  | 319,071 |  | $ | 22.81 |  | 231,517 |  | $ | 21.70 |
(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 $62,000. (3) Total weighted-average grant-date fair value of $26,000. (4) Total weighted average grant date fair value of $2.5 million. (5) Total weighted-average grant-date fair value of $2.1 million.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders |
|  | Three months ended June 30 |  | Six months ended June 30 |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
|  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |
Outstanding, beginning of period |  | 239,470 |  | $ | 29.12 |  | 200,735 |  | $ | 25.94 |  | 197,385 |  | $ | 25.94 |  | 126,782 |  | $ | 20.33 |
Granted |  | 1,442 |  | 30.71 |  | 475 |  | 35.46 |  | 78,924 | (2) | 30.71 |  | 75,015 | (3) | 35.46 |
Vested |  | — |  | — |  | — |  | — |  | (35,397 | ) | 14.85 |  | — |  | — |
Forfeited |  | (1,505 | ) | 30.39 |  | (1,647 | ) | 22.45 |  | (1,505 | ) | 30.39 |  | (2,234 | ) | 22.45 |
Outstanding, end of period |  | 239,407 |  | $ | 29.12 |  | 199,563 |  | $ | 25.99 |  | 239,407 |  | $ | 29.12 |  | 199,563 |  | $ | 25.99 |
(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 $2.4 million. (3) Total weighted-average grant-date fair value of $2.7 million.
Schedule of assumptions used to determine the fair value of Long-Term Incentive Plan (LTIP) linked to total return to shareholders (TRS) |
|  | 2012 |  | 2011 |
Risk-free interest rate |  | 0.33% |  | 1.25% |
Expected life in years |  | 3 |  | 3 |
Expected volatility |  | 25.3% |  | 27.8% |
Range of expected volatility for Peer Group |  | 15.5% to 34.5% |  | 21.2% to 82.6% |
Grant date fair value (per share) |  | $30.71 |  | $35.46 |
Schedule of Long-Term Incentive Plan (LTIP) linked to other performance conditions |
|  | Three months ended June 30 |  | Six months ended June 30 |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
|  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |
Outstanding, beginning of period |  | 297,602 |  | $ | 23.92 |  | 273,550 |  | $ | 21.26 |  | 182,498 |  | $ | 22.63 |  | 161,310 |  | $ | 18.66 |
Granted |  | 3,600 |  | 26.75 |  | 712 |  | 26.25 |  | 118,704 | (2) | 26.00 |  | 113,831 | (3) | 24.96 |
Vested |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Cancelled |  | — |  | — |  | (81,908 | ) | 18.38 |  | — |  | — |  | (81,908 | ) | 18.38 |
Forfeited |  | (6,018 | ) | 24.23 |  | (6,587 | ) | 18.95 |  | (6,018 | ) | 24.23 |  | (7,466 | ) | 18.95 |
Outstanding, end of period |  | 295,184 |  | $ | 23.95 |  | 185,767 |  | $ | 22.63 |  | 295,184 |  | $ | 23.95 |  | 185,767 |  | $ | 22.63 |
(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 $3.1 million. (3) Total weighted-average grant-date fair value of $2.8 million.

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- Definition Tabular disclosure of the number and weighted-average grant date fair value of shares that were outstanding at the beginning and end of the year, and the number of Long-Term Incentive Plan awards that were granted, vested, or forfeited during the year that were linked to other performance conditions. + References No definition available. + Details
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- Definition Tabular disclosure of other activity and statistics relating to stock options. May include the number and weighted-average exercise prices of share options that were exercised or converted, forfeited, and expired during the year as well as intrinsic value of shares exercised, information about cash received from exercises and tax benefits realized for the deduction of exercises. + References No definition available. + Details
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- Definition Tabular disclosure of stock appreciation rights exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under stock appreciation rights, weighted-average exercise price and the remaining contractual option terms. + References No definition available. + Details
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- Definition Tabular disclosure of other activity and statistics relating to stock appreciation rights. May include the number and aggregate fair value of shares vested, intrinsic value and tax benefit from share exercises. Under Section 409A of the Internal Revenue Code, may also include the dividend equivalent shares distributed, weighted average distribution price, intrinsic value of shares distributed and the tax benefit realized from distributions. + References No definition available. + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of Long-Term Incentive Plan linked to total return to shareholders, including, but not limited to: (a) expected term of awards, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References No definition available. + Details
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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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 718 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (h)(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 number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited 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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