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Employee Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Fair Value of Awarded Stock Option Estimated on Grant Date Using Black-Scholes Option- Pricing Model

The fair value of each award of stock options was estimated on the grant date using the Black-Scholes option- pricing model with the following assumptions:

		Grant date assumptions
		2012				2011				2010				2009				2008				2007
Expected term (1)			5 years				5 years				4.5 years				5 years				2.4 years				5 years
Expected volatility factor (2)			54.95	%			52.52	%			48.58	%			39.17	%			36.41	%			39.67	%
Risk-free interest rate (3)			0.70	%			2.00	%			2.62	%			3.32	%			2.13	%			4.54	%
Actual dividends (4)		$	0.44			$	0.44			$	0.44			$	0.44			$	0.44			$	0.40

(1) The expected term was determined based on actual awards.

(2) The volatility factor was measured using the weighted average of historical daily price changes of the Company’s Class A Stock over a historical period commensurate to the expected term of the awards.

(3) The risk-free interest rate was based on periods equal to the expected term of the awards based on the U.S. Treasury yield curve in effect at the time of grant.

(4) Actual dividends were used to compute the expected annual dividend yield.

Schedule of Stock Option Activity

Stock option activity under the EIP since January 1, 2011 is summarized as follows:

		Year ended December 31, 2012								Year ended December 31, 2011
		Number of shares				Weighted average exercise price				Number of shares				Weighted average exercise price
Options outstanding, beginning of year			164,193			$	29.04				284,976			$	34.39
Options granted			1,590			$	19.31				37,333			$	26.18
Options exercised			—				—				(13,532	)		$	24.88
Options forfeited or expired			(78,980	)		$	35.09				(144,584	)		$	39.24
Options outstanding, end of year			86,803			$	23.35				164,193			$	29.04
Options vested, end of year			36,023			$	22.59				87,279			$	32.86
Weighted average fair value of options granted during the year		$	7.67							$	10.89

Summarizes Stock Options Outstanding and Exercisable

The following table summarizes stock options outstanding and exercisable as at December 31, 2012:

Range of exercise prices		Number outstanding				Weighted average remaining contractual life				Weighted average exercise price of outstanding options				Number exercisable (vested)				Weighted average exercise price of vested options
$9.60 - $25.00			31,454				1.44 years			$	13.76				16,757			$	12.91
$25.01 - $39.45			55,349				2.57 years			$	28.81				19,266			$	31.01
$9.60 - $39.45			86,803				2.16 years			$	23.35				36,023			$	22.59

Summarizes of Company's Non-Vested Options

The following table summarizes the status of the Company’s non-vested options for the year ended December 31, 2012:

		Year ended December 31, 2012
		Number of Options				Weighted average fair value
Non-vested beginning of year			76,914			$	8.88
Granted			1,590			$	7.67
Vested			(27,724	)		$	9.03
Forfeited or expired			—			$	—
Non-vested end of year			50,780			$	9.49

Summarizes of Company's Non-Vested ESP Awards

The following table summarizes the status of the Company’s non-vested ESP awards for the year ended December 31, 2012:

		Number of shares of Class A Stock subject to ESP awards				Weighted average fair value				Remaining contractual life
Non-vested beginning of year			760,902			$	20.94				2.8 years
Granted			174,818			$	15.64				3.7 years
Vested			(57,652	)		$	21.60				—
Forfeited or expired			(28,000	)		$	24.08				—
Non-vested end of year			850,068			$	19.38				2.3 years

Stock Appreciation Rights

The fair value of each OARs award was estimated as at December 31, 2012 using the Black-Scholes option-pricing model.

Grant date		Number of OARs outstanding				Strike price				Remaining contractual life				Fair value as at December 31, 2012
January 10, 2008			383,645			$	37.78				9 days			$	—
January 12, 2009			358,930			$	12.74				1 year			$	5.83
January 19. 2010			292,560			$	30.68				2 years			$	1.65
January 13, 2011			392,630			$	26.35				3 years			$	2.12
January 19, 2012			428,230			$	18.94				4 years			$	5.74
			1,855,995
Total weighted average values						$	25.05				2.1 year	s		$	3.16

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