Share-Based Payment Plans (Tables)

9 Months Ended

Sep. 30, 2012

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

Summary of Stock Option Activity

The following table presents stock option activity during the nine months ended September 30, 2012:

	Shares Under Option		Weighted- Average Exercise Price
	(In thousands)
Outstanding at January 1, 2012	3,565		$	20.62
Granted	—		$	—
Exercised	(35	)	$	11.59
Forfeited or expired	(2	)	$	18.88
Outstanding at September 30, 2012	3,528		$	20.72
Exercisable at September 30, 2012	2,948		$	21.25

Summary of Restricted Stock Activity

The following table presents information regarding restricted stock activity during the nine months ended September 30, 2012:

	Unvested Shares			Weighted-Average Price
	(In thousands)
Unvested at January 1, 2012	1,178			$	17.23
Granted	70			$	18.82
Vested	(123	)		$	18.25
Forfeited	(3	)		$	19.33
Unvested at September 30, 2012	1,122		*	$	17.21

^{______________________________________________} 

* Does not include 800,000 shares of restricted stock awarded to certain executives which are subject to performance vesting conditions and are not entitled to vote or receive dividends during the performance period.

Share-Based Compensation Expense

Share-based compensation expense charged against earnings is summarized as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
	(In thousands)
Restricted stock expense	$	1,403		$	1,443		$	4,602		$	4,149
Stock option expense	243			367			794			1,078
Employee stock purchase plan discount	3			3			10			11
Total equity-based expense	1,649			1,813			5,406			5,238
Restricted stock classified as a liability	17			20			34			40
Total expense	1,666			1,833			5,440			5,278
Less amount capitalized	(72		)	(67		)	(226		)	(190		)
Net share-based compensation expense	$	1,594		$	1,766		$	5,214		$	5,088