XML 18 R42.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Awards and Programs (Details) (USD $)
3 Months Ended 12 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Stock-Based Awards and Programs        
Compensation Expense $ 1,291,000 $ 822,000 $ 2,332,000 $ 1,846,000
Tax Benefit Recognized 476,000 298,000 827,000 642,000
Performance-Based Restricted Stock Awards
       
Assumptions used in the model for each grant year        
Risk-free interest rate, low end of range (as a percent) 0.12% 0.16%    
Risk-free interest rate, high end of range (as a percent) 0.32% 0.45%    
Expected volatility of Empire stock (as a percent) 20.50% 21.50%    
Expected dividend yield on Empire stock (as a percent) 4.50% 4.90%    
Expected forfeiture rates (as a percent) 3.00% 3.00%    
Plan cycle 3 years 3 years    
Weighted average fair value per share (in dollars per share) $ 17.06 $ 13.63 $ 17.06 $ 13.63
Fair value        
Total unrecognized compensation cost 600,000   600,000  
Changes in restricted stock awards        
Nonvested, balance at the beginning of the period (in shares) 33,900 37,400    
Granted (in shares) 26,300 10,000    
Awarded/Vested (in shares) (4,460) (7,823)    
Not Awarded (in shares) (8,540) (5,677)    
Nonvested, balance at the end of the period (in shares) 47,200 33,900 47,200 33,900
Weighted Average Grant Date Price        
Nonvested, balance at the beginning of the period (in dollars per share) $ 20.25 $ 19.28    
Granted (in dollars per share) $ 21.36 $ 20.97    
Awarded/Vested (in dollars per share) $ 18.36 $ 18.12    
Not Awarded (in dollars per share) $ 18.36 $ 18.12    
Nonvested, balance at the end of the period (in dollars per share) $ 21.39 $ 20.25 $ 21.39 $ 20.25
Unrecognized compensation cost related to estimated outstanding awards 600,000   600,000  
Performance-Based Restricted Stock Awards | Minimum
       
Assumptions used in the model for each grant year        
Expected volatility of peer group stock (as a percent) 12.10% 13.50%    
Fair value percentage 10.00% 41.00%    
Performance-Based Restricted Stock Awards | Maximum
       
Assumptions used in the model for each grant year        
Expected volatility of peer group stock (as a percent) 30.80% 51.90%    
Fair value percentage 99.00% 104.00%    
Stock Options
       
Assumptions used in the model for each grant year        
Risk-free interest rate, low end of range (as a percent) 0.11% 0.17%    
Risk-free interest rate, high end of range (as a percent) 0.28% 0.83%    
Expected volatility of Empire stock (as a percent) 24.00% 25.00%    
Expected dividend yield on Empire stock (as a percent) 4.50% 4.90%    
Expected life 78 months 78 months    
Market value (in dollars per share) $ 22.40 $ 20.35    
Weighted average fair value per option (in dollars per share) $ 1.64 $ 1.56 $ 1.64 $ 1.56
Stock Options | Maximum
       
Fair value        
Recognition period   1 year    
Time-Vested Restricted Stock Awards
       
Assumptions used for estimating fair value of grants outstanding        
Vesting period 3 years      
Period from date of termination of employment due to death, retirement or disability during which the pro-rata portion of the awards are distributed 6 months      
Fair value        
Total unrecognized compensation cost 300,000   300,000  
Recognition period   1 year 9 months    
Fair value 19,630,000 17,630,000    
Changes in restricted stock awards        
Nonvested, balance at the beginning of the period (in shares) 3,300 3,433    
Granted (in shares) 21,600      
Awarded/Vested (in shares) 0      
Distributed (in shares) 0 (133)    
Forfeited (in shares) 0      
Vested but not distributed (in shares) 0      
Nonvested, balance at the end of the period (in shares) 24,900 3,300 24,900 3,300
Weighted Average Grant Date Price        
Nonvested, balance at the beginning of the period (in dollars per share) $ 20.38 $ 21.84    
Granted (in dollars per share) $ 21.36      
Awarded/Vested (in dollars per share) $ 0      
Distributed (in dollars per share) $ 0.00 $ 20.13    
Vested but not distributed (in dollars per share) $ 0.00      
Nonvested, balance at the end of the period (in dollars per share) $ 22.40 $ 20.38 $ 22.40 $ 20.38
Unrecognized compensation cost related to estimated outstanding awards 300,000   300,000  
Time-Vested Restricted Stock Awards | Minimum
       
Fair value        
Recognition period 1 year      
Time-Vested Restricted Stock Awards | Maximum
       
Fair value        
Total unrecognized compensation cost   100,000   100,000
Recognition period 3 years      
Weighted Average Grant Date Price        
Unrecognized compensation cost related to estimated outstanding awards   $ 100,000   $ 100,000