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Employee benefits (Tables)
12 Months Ended
Dec. 31, 2012
Employee benefits [Abstract]  
Bonus plan expenses
                         
       

Year ended December 31

(in thousands)

 

2012

EUR

   

2011

EUR

   

2010

EUR

 

 

 
       

Bonus expenses

 

    16,474       15,557       12,489  
Bonus expenses under performance-related bonus plan
                         
       

Year ended December 31

(in thousands)

 

2012

EUR

   

2011

EUR

   

2010

EUR

 

 

 
       

Bonus expenses

 

    14,588       13,131       9,694  
Assumption of the Black-Scholes option valuation of the fair value of the company's stock options
                         

 

Year ended December 31

  2012     2011     2010  

 

 
       

Weighted average share price (in EUR)

    40.3       28.0       24.1  

Volatility (in percentage)

    25.6       37.8       36.4  

Expected life (in years)

    5.0       4.8       4.6  

Risk free interest rate

    2.1       2.9       2.5  

Expected dividend yield (in EUR)

    1.45       1.25       1.06  

Forfeiture rate1

    -       -       -  
       
                         

 

1 As of year end for each of the three years ended December 31, forfeitures are estimated to be nil.
Stock options
                                                 
    

 

EUR-denominated

    USD-denominated  
Year ended December 31   2012     2011     2010     2012     2011     2010  

 

 
             

Weighted average fair value of stock options granted

    8.97       8.28       8.22       11.87       10.42       11.10  

Weighted average share price at the exercise date of stock options

    40.45       29.39       25.77       50.88       41.94       33.79  

Aggregate intrinsic value of stock options exercised (in thousands)

    71,331       30,204       22,720       12,684       11,323       13,669  

Aggregate remaining contractual term of currently exercisable options (years)

    3.59       2.08       2.86       3.17       1.80       2.59  

Aggregate intrinsic value of exercisable stock options (in thousands)

    34,438       39,384       54,109       21,882       20,492       25,780  

Aggregate intrinsic value of outstanding stock options (in thousands)

    35,671       45,141       65,240       22,433       20,791       28,024  
             
                                                 
Stock option transactions
                                 
    

 

  EUR-denominated

      USD-denominated  
   

Number

of options

   

Weighted average
exercise price

per ordinary

share (EUR)

   

Number

of options

   

Weighted average
exercise price

per ordinary

share (USD)

 

 

 

Outstanding, January 1, 2012

    5,133,659       24.48       1,792,305       34.01  

Granted

    32,240       39.52       11,041       51.79  

Exercised

    (2,928,641)       16.07       (362,071)       15.87  

Forfeited

    (5,530)       18.22       (350)       33.75  

Expired

    (1,103,566)       55.45       (946,089)       48.98  

 

 

Outstanding, December 31, 2012

    1,128,162       16.38       494,836       19.06  

Exercisable, December 31, 2012

    1,060,262       15.52       472,586       18.09  
         
                                 
Outstanding stock options
                                             

 

EUR-denominated

    USD-denominated  

Range of

exercise

prices (EUR)

   

Number of

outstanding

options at

December 31, 2012

   

Weighted

average

remaining

contractual life

of outstanding

options (years)

   

Range of

exercise

prices (USD)

   

Number of

outstanding

options at

December 31, 2012

   

Weighted

average

remaining

contractual life

of outstanding

options (years)

 

 

 

 
  0 - 10       -       -       0 - 10       55,260       2.75  
  10 - 15       602,473       3.00       10 - 15       230,215       1.64  
  15 - 20       292,093       3.91       15 - 20       5,424       5.80  
  20 - 25       176,120       5.18       20 - 25       101,697       4.49  
  25 - 40       30,422       8.77       25 - 40       90,116       6.16  
  40 - 50       27,054       9.79       40 - 50       2,077       8.66  
  50 - 60       -       -       50 - 60       10,047       9.70  

 

 

 
  Total       1,128,162       3.89       Total       494,836       3.41  
           
                                             
Summary of share plans
                                                 
    

 

EUR-denominated

    USD-denominated  
Year ended December 31   2012     2011     2010     2012     2011     2010  

 

 
             

Total fair value at vesting date of shares vested during the year (in thousands)

    16,179       9,155       6,165       5,392       1,956       8,856  

Weighted average fair value of shares granted

    36.15       28.09       23.51       47.71       39.00       31.66  
             
                                                 
Employee share issuances
                                 
    

EUR-

denominated
Number of

shares

   

 

Weighted
average
fair value at grant
date (EUR)

   

USD-

denominated
Number of

shares

   

Weighted

average
fair value at grant
date (USD)

 

 

 

Conditional shares outstanding at January 1, 2012

    1,479,297       24.19       264,891       32.35  

Granted

    678,505       36.15       110,465       47.71  

Vested/Issued

    (421,902     20.88       (106,500     31.05  

Forfeited

    (42,290     19.91       (19,762     37.55  

 

 

Conditional shares outstanding at December 31, 2012

    1,693,610       29.92       249,094       40.71  
         
                                 
Pension Costs
                         

 

Year ended December 31

(in thousands)

  2012
EUR
    2011
EUR
    2010
EUR
 

 

 
       

Pension plan based on multi-employer union plan

    34,525       31,819       29,643  

Pension plans based on defined contribution

    15,773       14,128       10,950  

 

 
       

Pension and retirement expenses

    50,298       45,947       40,593