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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2012
Stock Option Activity | During the nine months ended September 30, 2012, the stock option activity under our 2002 Stock Option Plan, 1995 Incentive and Non-Qualified Stock Option Plan for key employees, and 1996 Non-Employee Director’s Stock Option Plan (collectively the “Stock Option Plans”), was as follows:
|  | Weighted Average Exercise Price |  |  | Number of Shares |  |  | Weighted Average Remaining Contractual Life (In Years) |  |  | Aggregate Intrinsic Value |
Outstanding, January 1, 2012 |  | $ | 10.97 |  |  |  | 2,912,000 |  |  |  |  |  |  |  |  |
Granted |  |  | 17.50 |  |  |  | 601,000 |  |  |  |  |  |  |  |  |
Cancelled |  |  | 14.33 |  |  |  | (73,000 | ) |  |  |  |  |  |  |  |
Exercised |  |  | 9.40 |  |  |  | (443,000 | ) |  |  |  |  |  |  |  |
Outstanding, September 30, 2012 |  | $ | 12.43 |  |  |  | 2,997,000 |  |  |  | 6.15 |  |  | $ | 31,265,000 |
Options exercisable as of September 30, 2012 |  |  |  |  |  |  | 1,359,000 |  |  |  | 3.95 |  |  | $ | 18,961,000 |
Summarized Information of Stock Options Outstanding | The following table summarizes information about stock options outstanding at September 30, 2012.
|  | Options Outstanding |  |  |  |  |  | Options Exercisable |
Exercise Price Range |  | Number Outstanding |  |  | Average Remaining Contractual Life |  |  | Weighted Average Exercise Price Per Share |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
$ 2.41 - 3.68 |  |  | 399,000 |  |  |  | 0.85 |  |  | $ | 3.24 |  |  |  | 399,000 |  |  | $ | 3.24 |
6.07 |  |  | 267,000 |  |  |  | 2.24 |  |  |  | 6.07 |  |  |  | 267,000 |  |  |  | 6.07 |
10.39 |  |  | 410,000 |  |  |  | 6.27 |  |  |  | 10.39 |  |  |  | 196,000 |  |  |  | 10.39 |
13.93 - 14.31 |  |  | 869,000 |  |  |  | 6.49 |  |  |  | 14.16 |  |  |  | 420,000 |  |  |  | 14.09 |
$16.11 - 17.50 |  |  | 1,052,000 |  |  |  | 8.83 |  |  |  | 16.89 |  |  |  | 77,000 |  |  |  | 16.11 |
|  |  | 2,997,000 |  |  |  | 6.15 |  |  | $ | 12.43 |  |  |  | 1,359,000 |  |  | $ | 8.90 |
Other Information Pertaining to Option Activity | Other information pertaining to option activity during the nine month periods ended September 30, 2012 and 2011 was as follows:
|  | September 30, 2012 |  |  | September 30, 2011 |
Weighted average grant-date fair value of stock options granted: |  | $ | 2,438,000 |  |  | $ | 1,477,000 |
Total fair value of stock options vested: |  | $ | 1,870,000 |  |  | $ | 1,015,000 |
Total intrinsic value of stock options exercised: |  | $ | 5,026,000 |  |  | $ | 4,736,000 |
Total pre-tax share-based compensation expense charged against income: |  | $ | 1,423,000 |  |  | $ | 1,402,000 |
Total unrecognized compensation expense related to non-vested options: |  | $ | 4,473,000 |  |  | $ | 4,015,000 |
Assumptions Used to Estimate Fair Value on Grant Date, Stock Options | The fair value of options granted in 2012 and 2011 was estimated on the date of grant using the Black-Scholes valuation model with the following weighted average assumptions:
|  | September 30, 2012 |  |  | September 30, 2011 |
Risk-free interest rate |  |  | 1.3 | % |  |  | 2.6 | %
Expected volatility |  |  | 39.2 | % |  |  | 27.4 | %
Weighted average expected life in years |  |  | 6.8 |  |  |  | 7.4 |
Dividend yield |  |  | 3.6 | % |  |  | 3.7 | %
Assumptions Used to Estimate Fair Value on Grant Date, Employee Stock Purchase Plan | Such expense was estimated on the date of grant using the Black-Scholes valuation model with the following weighted average assumptions:
|  | September 30, 2012 |  |  | September 30, 2011 |
Risk-free interest rate |  |  | 0.19 | % |  |  | 0.04 | %
Expected volatility |  |  | 36.5 | % |  |  | 25.0 | %
Weighted average expected life in years |  |  | 1.0 |  |  |  | 1.0 |
Dividend yield |  |  | 3.6 | % |  |  | 3.7 | %

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: 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 2: 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 Reference 3: 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. + Details
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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64 -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 FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph A240 -Subparagraph f -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. + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -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 employee stock purchase plans, including, but not limited to: (a) expected term, (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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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