Equity-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Employee Equity-Based Compensation Expense

Employee equity-based compensation expense was recognized as follows:



(In thousands)	2013		2012		2011
Restricted stock units	$	1,801	$	970	$	1,212
Performance shares	5,075		7,364		5,446
Total employee equity-based compensation	$	6,876	$	8,334	$	6,658
Related tax benefit	$	2,049	$	2,886	$	2,290

Summary of Status of Outstanding RSU Awards

A summary of the status of outstanding unvested RSU awards as of December 31, 2013, 2012 and 2011, and changes during those years, is presented below:



	2013				2012				2011
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Unvested shares outstanding at
January 1	63,727		$	35.57	169,344		$	11.33	437,272		$	6.96
Granted	72,702		43.44		52,294		34.59		23,138		38.42
Vested	(30,190	)	39.21		(155,177	)	8.82		(286,486	)	6.88
Forfeited	(3,581	)	42.03		(2,734	)	34.07		(4,580	)	8.64
Unvested shares outstanding at December 31	102,658		39.85		63,727		35.57		169,344		11.33
Aggregate intrinsic value (in thousands)			$	5,390			$	2,496			$	6,030

Assumption Used in Monte Carlo Model to Estimate Fair Value of Performance Shares Awards

The fair value of performance share awards is estimated using a Monte Carlo simulation model. For performance shares granted in 2013, the following assumptions were used in our Monte Carlo model:



Closing price of stock on date of grant	$	47.30
Risk free rate	0.35		%
Measurement period	3 years
Volatility	30		%

Summary of Status of Outstanding Performance Share Awards

A summary of the status of outstanding performance share awards as of December 31, 2013, 2012 and 2011, and changes during those years, is presented below:



	2013				2012				2011
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Outstanding share awards at January 1	392,655		$	44.67	749,538		$	19.52	638,870	$	13.00
Granted	124,513		63.46		150,865		40.24		110,668	57.18
Settled	(246,592	)	47.19		(499,680	)	5.65		—	—
Forfeited	(10,735	)	54.87		(8,068	)	42.15		—	—
Outstanding share awards at December 31	259,841		50.87		392,655		44.67		749,538	19.52
Aggregate intrinsic value (in thousands)			$	13,642			$	15,376		$	26,691