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Employee Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Fair Value of Awarded Stock Option Estimated on Grant Date Using Black-Scholes Model

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

 

     Grant Date Assumptions  
     2013     2012     2011     2010     2009     2008  

Expected term (1)

      5 years        5 years        5 years        4.5 years        5 years        2.4 years   

Expected volatility factor (2)

      53.82 %      54.95 %      52.52 %      48.58 %      39.17 %      36.41 % 

Risk-free interest rate (3)

      0.84 %      0.70 %      2.00 %      2.62 %      3.32 %      2.13 % 

Actual dividends (4)

    $ 0.44      $ 0.44      $ 0.44      $ 0.44      $ 0.44      $ 0.44   

 

(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, 2012 is summarized as follows:

 

     Year Ended December 31,  
     2013      2012  
     Number of
Options		     Weighted Average
Exercise Price		      Number of
Options		     Weighted Average
Exercise Price		  

Options outstanding at beginning of year

      86,803      $ 23.35         164,193      $ 29.04   

Options granted

      951        17.20         1,590        19.31   

Options exercised

      (12,165 )      12.30         —          —     

Options forfeited or expired

      (3,016 )      39.45         (78,980 )      35.09   
  

 

 

    

 

 

     

 

 

    

 

 

  

Options outstanding at end of year

      72,573      $ 24.46         86,803      $ 23.35   
  

 

 

    

 

 

     

 

 

    

 

 

  

Options vested at end of year

      45,683      $ 23.34         36,023      $ 22.59   
  

 

 

    

 

 

     

 

 

    

 

 

  

Weighted average fair value of options granted during the year

    $ 6.60         $ 7.67     
  

 

 

       

 

 

    

 
Summarizes Stock Options Outstanding and Exercisable

The following table summarizes stock options outstanding and exercisable as of December 31, 2013:

 

Range of Exercise Prices

    Number of
Options
Outstanding		      Weighted
Average
Remaining
Contractual Life		      Weighted
Average
Exercise Price of
Outstanding
Options		      Number of
Options
Exercisable
(Vested)		      Weighted
Average
Exercise Price of
Vested Options		  

$9.60 - $25.00

      20,240         0.86 Years       $ 14.80         16,350       $ 13.38   

$25.01.00 - $39.45

      52,333         1.72 Years         28.19         29,333         28.89   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

$9.60 - $39.45

      72,573         1.48 Years       $ 24.46         45,683       $ 23.34   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 
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, 2013:

 

     Number of
Options		     Weighted
Average Fair
Value		  

Nonvested at beginning of year

      50,780      $ 9.49   

Granted

      951        6.60   

Vested

      (24,841 )      7.90   
  

 

 

    

 

 

  

Nonvested at end of year

      26,890      $ 10.86   
  

 

 

    

 

 

  

 
Summarizes of Company's Non-Vested ESP/EIP Awards

The following table summarizes the status of the Company’s non-vested restricted Class A Stock awards for the year ended December 31, 2013:

 

     Number of Class
A Shares
Subject to
ESP/EIP Awards		     Weighted
Average Fair
Value		      Remaining
Contractual
Life		  

Nonvested at beginning of year

      848,068      $ 19.39         2.3 Years   

Granted

      506,470        16.14         2.8 Years   

Vested

      (58,062 )      23.53         —     

Forfeited or expired

      (49,000 )      20.39         —     
  

 

 

    

 

 

     

 

 

  

Nonvested at end of year

      1,247,476      $ 17.87         2.0 Years   
  

 

 

    

 

 

     

 

 

  

 
Stock Appreciation Rights

The fair value of each OARs award was estimated as at December 31, 2013 using the Black-Scholes model.

 

Grant Date

    Number of
OARs
Outstanding		      Strike Price      Remaining
Contractual
Life		      Fair Value at
December 31, 2013		  

January 12, 2009

      324,200       $ 12.74         11 Days       $ 12.04   

January 19, 2010

      267,680         30.68         1 Year         1.46   

January 13, 2011

      366,050         26.35         2 Years         3.02   

January 19, 2012

      406,040         18.94         3 Years         8.09   

January 14, 2013

      454,570         15.94         4 Years         10.45   
  

 

 

           
     1,818,540            
  

 

 

           

Total weighted average values

       $ 20.30         2.3 Years       $ 7.39