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Share - Based Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Share-based Compensation [Abstract]

Summary of the stock option and SAR transactions for the Lorillard Plan


		2011								2010								2009
		Number of Awards				Weighted Average Exercise Price				Number of Awards				Weighted Average Exercise Price				Number of Awards				Weighted Average Exercise Price
Awards outstanding, January 1,			1,476,113			$	69.56				1,525,185			$	65.60				814,950			$	57.21
Granted			342,020				103.11				254,728				77.84				810,421				70.59
Exercised			(346,698	)			67.96				(252,787	)			53.39				(100,186	)			37.74
Forfeited			(8,481	)			71.17				(51,013	)			62.18				—				—

Awards outstanding, December 31			1,462,954				77.82				1,476,113				69.56				1,525,185				65.60


Awards exercisable, December 31			501,775				66.70				503,469				62.66				399,240				51.09


Shares available for grant, December 31			1,423,483								1,767,101								2,110,418

Information about stock options and SARs outstanding in connection with the Lorillard Plan


		Awards Outstanding												Awards Vested
Range of exercise prices		Number of Shares				Weighted Average Remaining Contractual Life				Weighted Average Exercise Price				Number of Shares				Weighted Average Exercise Price
$20.00 – 34.99			40,064				2.7			$	29.38				40,064			$	29.38
35.00 – 49.99			36,937				3.8				44.75				36,937				44.75
50.00 – 64.99			191,823				6.5				59.36				94,018				58.49
65.00 – 79.99			608,460				7.3				73.04				212,164				72.43
80.00 – 94.99			323,456				7.4				81.13				112,884				81.42
95.00 – 109.99			102,630				9.2				107.33				5,708				101.94
110.00 – 114.00			159,584				9.3				112.35				—				—

The fair value of granted options and SARs for the Lorillard Plan


Year Ended December 31,		2011				2010				2009
Weighted average expected dividend yield			5.8	%			6.2	%			5.5	%
Weighted average expected implied volatility			30.0	%			23.6	%			30.5	%
Weighted average risk-free interest rate			1.5	%			1.9	%			2.3	%
Expected holding period (in years)			5.0				5.0				5.0
Weighted average fair value of awards		$	14.71			$	7.34			$	11.08

Restricted stock activity


		2011								2010								2009
		Number of Awards				Weighted -Average Grant Date Fair Value Per Share				Number of Awards				Weighted -Average Grant Date Fair Value Per Share				Number of Awards				Weighted -Average Grant Date Fair Value Per Share
Balance at January 1,			252,683			$	71.29				89,433			$	60.06				4,057			$	67.94
Granted			199,842				79.49				184,350				76.07				89,433				60.06
Vested			(8,052	)			74.54				(9,990	)			60.06				(4,057	)			67.94
Forfeited			(7,600	)			74.84				(11,110	)			70.33				—				—

Balance at December 31,			436,873				74.92				252,683				71.29				89,433				60.06

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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