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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation Expense

Total stock-based compensation expense was as follows:

 

     Year Ended December 31,  
     2013      2012      2011  
     (In thousands)  

Employee:

        

Restricted stock and performance shares

   $ 7,269       $ 7,046       $ 5,856   

Stock options

     900         668         324   
  

 

 

    

 

 

    

 

 

 
     8,169         7,714         6,180   
  

 

 

    

 

 

    

 

 

 

Non-employee directors:

        

Restricted stock

     710         671         679   
  

 

 

    

 

 

    

 

 

 

Total stock-based compensation

   $ 8,879       $ 8,385       $ 6,859   
  

 

 

    

 

 

    

 

 

 
Assumptions Used for the Black-Scholes Option-Pricing Model to Determine the Per Share Weighted Average Fair Value for Options Granted

The following table represents the assumptions used for the Black-Scholes option-pricing model to determine the per share weighted-average fair value for options granted for the three years ended December 31, 2013:

 

     2013     2012     2011  

Expected life (years)

     9.9        5.0        9.9   

Risk-free interest rate

     1.9     0.7     3.3

Expected volatility

     44.3     48.2     48.0

Expected dividend yield

     1.2     1.2     1.3
Stock Option Activity

The following table reports stock option activity during the three years ended December 31, 2013 and the intrinsic value as of December 31, 2013:

 

                  Remaining         
     Number of     Weighted-Average      Contractual         
     Shares     Exercise Price ($)      Term      Intrinsic Value ($)  
                         (In thousands)  

Outstanding at December 31, 2010

     4,403,562        9.09         

Granted

     340,771        21.60         

Canceled

     (211,323     16.16         

Exercised

     (1,605,273     10.21         
  

 

 

         

Outstanding at December 31, 2011

     2,927,737        9.42         

Granted

     13,292        32.45         

Canceled

     —          —           

Exercised

     (1,511,207     5.64         
  

 

 

         

Outstanding at December 31, 2012

     1,429,822        13.62         

Granted

     51,597        41.75         

Canceled

     (4,348     33.84         

Exercised

     (256,622     12.33            10,723   
  

 

 

         

Outstanding at December 31, 2013

     1,220,449        15.01         4.0         63,369   

Exercisable at December 31, 2013

     1,023,337        12.68         3.4         55,515   
  

 

 

         
Summary of Performance of Share Activity

The following table reports performance share activity for the three years ended December 31, 2013:

 

Performance year    2013      2012      2011  

Share pay-out at plan, net of forfeitures of 14,563 for 2011

     42,908         44,843         63,102   

Actual share pay-out in following year

     46,340         41,481         91,498   

Fair value per share on grant date

   $ 35.98       $ 30.64       $ 21.56   
Restricted Stock and Performance Share Activity

The following table reports restricted stock and performance share activity during the three years ended December 31, 2013:

 

           Weighted-Average  
     Number of     Grant Date Fair  
     Restricted Shares     Value  

Outstanding at December 31, 2010

     1,244,864      $ 11.23   

Granted

     435,548     

Performance share pay-out

     130,552     

Canceled

     (279,081  

Vested

     (574,172  
  

 

 

   

Outstanding at December 31, 2011

     957,711      $ 15.69   

Granted

     206,965     

Performance share pay-out

     91,498     

Canceled

     (7,390  

Vested

     (497,525  
  

 

 

   

Outstanding at December 31, 2012

     751,259      $ 21.88   

Granted

     255,266     

Performance share pay-out

     41,481     

Canceled

     (93,358  

Vested

     (384,914  
  

 

 

   

Outstanding at December 31, 2013

     569,734      $ 31.86