XML 60 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6

Share-Based Compensation (Tables)

9 Months Ended

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	%

X

- 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

Name:	us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration