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Share-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2011
Share Based Compensation Plans  
Schedule of weighted-average assumption for option valuation

 

 

 

 

Years ended December 31,

 

 

 

2011

 

2010

 

2009

 

Dividend yield

 

4%

 

4%

 

—

 

Expected price volatility

 

40%

 

39%

 

49%

 

Risk-free interest rate

 

1.97%

 

2.30%

 

1.80%

 

Expected life of options

 

4.9 years

 

4.7 years

 

4.8 years

 

Weighted-average fair value of options granted

 

$

19.75  

 

$

30.03  

 

$

26.07  

 
Summary of share settled SARs activity

 

 

 

 

Number
of
awards

 

Weighted-average
exercise price
per share

 

Weighted-average
remaining
contractual term
(years)

 

Aggregate
intrinsic value
(in millions)

 

Outstanding at January 1, 2011

 

189,139

 

$

93.28

 

5.76

 

$

—

 

Exercised

 

(1,400

)

77.73

 

—

 

—

 

Forfeited

 

(7,768

)

105.57

 

—

 

—

 

Outstanding at December 31, 2011

 

179,971

 

$

92.87

 

4.66

 

$

—

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable at December 31, 2011

 

179,971

 

$

92.87

 

4.66

 

$

—

 
Time-Based Awards
  
Share Based Compensation Plans  
Summary of vested and unvested stock option activity

 

 

 

 

Number
of shares
under option

 

Weighted-average
exercise price
per share

 

Weighted-average
remaining
contractual term
(years)

 

Aggregate intrinsic
value
(in millions)

 

Outstanding at January 1, 2011

 

1,653,683

 

$

66.37

 

5.29

 

$

5

 

Granted

 

194,342

 

78.76

 

 

 

 

 

Exercised

 

(210,997

)

46.37

 

 

 

 

 

Forfeited

 

(47,515

)

84.77

 

 

 

 

 

Expired

 

(10,229

)

42.79

 

 

 

 

 

Outstanding at December 31, 2011

 

1,579,284

 

$

70.16

 

2.67

 

$

—

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable at December 31, 2011

 

1,182,287

 

$

68.13

 

2.67

 

$

—

 
Summary of unvested share activity for time based vesting restricted shares granted under incentive plan

 

 

 

 

Number
of
shares

 

Weighted-average
grant-date fair value
per share

 

Unvested at January 1, 2011

 

3,939

 

$

132.32

 

Vested

 

(3,939

)

132.32

 

Unvested at December 31, 2011

 

—

 

$

—

 
Summary of unvested deferred units activity

 

 

 

 

Number
of
units

 

Weighted-average
grant-date fair value
per share

 

Unvested at January 1, 2011

 

1,844,784

 

$

75.23

 

Granted

 

1,090,747

 

77.55

 

Vested

 

(832,252

)

78.97

 

Forfeited

 

(163,439

)

76.94

 

Unvested at December 31, 2011

 

1,939,840

 

$

74.78

 
Performance-Based Awards
  
Share Based Compensation Plans  
Summary of vested and unvested stock option activity

 

 

 

 

Number
of shares
under option

 

Weighted-average
exercise price
per share

 

Weighted-average
remaining
contractual term
(years)

 

Aggregate
intrinsic value
(in millions)

 

Outstanding at January 1, 2011

 

179,262

 

$

75.30

 

5.22

 

$

—

 

Outstanding at December 31, 2011

 

179,262

 

$

75.30

 

4.23

 

$

—

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable at December 31, 2011

 

179,262

 

$

75.30

 

4.23

 

$

—
Market-Based Awards
  
Share Based Compensation Plans  
Summary of unvested deferred units activity

 

 

 

 

Number
of
units

 

Weighted-average
grant-date fair value
per share

 

Unvested at January 1, 2011

 

422,906

 

$

89.14

 

Granted

 

98,797

 

78.69

 

Forfeited

 

(105,756

)

121.89

 

Unvested at December 31, 2011

 

415,947

 

$

75.98