Stock Options (Tables)

12 Months Ended

Dec. 31, 2012

Assumptions Used for Estimating Fair Value of Share Based Payments

The following table presents the weighted-average assumptions used to estimate the fair value of the share based payment awards granted in the periods presented:

	Years Ended December 31,
	2012			2011			2010
Risk-free interest rate		0.59	%		1.47	%		1.99	%
Dividend yield		0.00	%		0.00	%		1.66	%
Expected volatility		57.05	%		42.28	%		42.90	%
Expected life in months		66			66			66
Weighted-average fair value of grants	$	4.95		$	8.84		$	6.43

Summary of Option Activity

Option activity during the three years ended December 31, 2012 was as follows:

	Years Ended December 31,
	2012					2011					2010
				Weighted-					Weighted-					Weighted-
				Average					Average					Average
	Number			Exercise		Number			Exercise		Number			Exercise
	of Shares			Price		of Shares			Price		of Shares			Price
Outstanding at December 31,		978,688		$	20.887		929,850		$	20.654		817,500		$	21.070
Options granted		222,100			9.810		224,000			21.610		190,950			18.040
Options exercised		—			—		(79,937	)		19.416		(45,850	)		16.797
Options forfeited		(174,200	)		19.700		(95,225	)		21.551		(32,750	)		21.231
Outstanding at December 31,		1,026,588		$	18.692		978,688		$	20.887		929,850		$	20.654
Exerciseable at December 31,		568,985		$	21.457		530,262		$	21.524		511,900		$	21.538
Available for grant at December 31,		78,350					230,950					406,310

Changes in Nonvested Stock Options

Nonvested stock options at December 31, 2011 and changes through the year ended December 31, 2012 were as follows:

				Weighted-
				Average
				Grant Date
	Number			Fair Value
	of Shares			Per Share
Nonvested at December 31, 2011		448,426		$	7.97
Granted		222,100			4.95
Vested		(157,423	)		8.19
Forfeited		(55,500	)		7.49
Nonvested at December 31, 2012		457,603		$	6.49