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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Weighted-average assumptions for options issued during the indicated periods
 
Twelve Months Ended
December 31,
 
2012
 
2011
 
2010
Dividend yield
0%
 
0%
 
0%
Expected volatility
61.2%
 
58.8%
 
62.8%
Risk-free interest rate
0.8%
 
1.9%
 
2.1%
Expected life of options (in years)
4.3
 
3.8
 
4.3
Weighted-average grant-date fair value
$15.71
 
$19.17
 
$12.60
Stock option activity
The following table represents stock option activity for the years ended December 31, 2012, 2011 and 2010:
 
2012
 
2011
 
2010
 
Shares
 
Wtd. Avg.
Exer. Price
 
Shares
 
Wtd. Avg
Exer. Price
 
Shares
 
Wtd. Avg
Exer. Price
 
 
 
 
 
 
 
 
 
 
 
 
Options outstanding, beginning of period
1,375,281

 
$
32.46

 
1,361,779

 
$
29.67

 
1,289,194

 
$
29.72

Options granted
336,092

 
$
32.39

 
307,394

 
$
42.56

 
273,463

 
$
25.28

Options canceled
(42,047
)
 
$
41.20

 
(67,529
)
 
$
55.19

 
(36,983
)
 
$
44.65

Options exercised (1)
(83,732
)
 
$
14.70

 
(226,363
)
 
$
22.61

 
(163,895
)
 
$
18.11

Options outstanding, end of period
1,585,594

 
$
33.13

 
1,375,281

 
$
32.46

 
1,361,779

 
$
29.67

Options exercisable, end of period
990,957

 
$
32.39

 
734,985

 
$
31.07

 
749,447

 
$
32.04


1 The plans allow for the use of a “stock swap” in lieu of a cash exercise for options, under certain circumstances. The delivery of Swift Energy common stock, held by the optionee for a minimum of six months, which are considered mature shares, with a fair market value equal to the required purchase price of the shares to which the exercise relates, constitutes a valid “stock swap.” Options issued under a “stock swap” also previously included a reload feature where additional options are granted at the then current market price when mature shares of Swift stock are used to satisfy the exercise price of an existing stock option grant. This reload feature was discontinued during 2012. The terms of the plans provide that the mature shares delivered, as full or partial payment in a “stock swap”, shall again be available for awards under the plans. Mature shares that were delivered in “stock swap” transactions which resulted in the issuance of an equal number of reload option were 20,692, 79,194 and 27,463 for the years ended December 31, 2012, 2011 and 2010, respectively, .
Stock options outstanding
The following table summarizes information about stock options outstanding at December 31, 2012:
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number Outstanding at 12/31/12
 
Wtd. Avg. Remaining Contractual Life
 
Wtd. Avg. Exercise Price
 
Number Exercisable at 12/31/12
 
Wtd. Avg. Exercise Price
$8.00 to $24.99
 
478,697

 
5.7
 
$
19.42

 
396,690

 
$
18.36

$25.00 to $44.99
 
1,074,221

 
6.3
 
$
38.76

 
561,591

 
$
41.33

$45.00 to $65.00
 
32,676

 
0.8
 
$
49.04

 
32,676

 
$
49.04

$8.00 to $65.00
 
1,585,594

 
6.0
 
$
33.13

 
990,957

 
$
32.39
Restricted stock activity
The following table represents restricted stock activity for the years ended December 31, 2012, 2011 and 2010:
 
2012
 
2011
 
2010
 
Shares
 
Wtd. Avg.
Grant Price
 
Shares
 
Wtd. Avg.
Grant Price
 
Shares
 
Wtd. Avg.
Grant Price
Restricted shares outstanding, beginning of period
834,703

 
$
31.89

 
734,286

 
$
22.87

 
703,856

 
$
24.15

Restricted shares granted
543,800

 
$
31.12

 
499,050

 
$
40.28

 
388,650

 
$
25.41

Restricted shares canceled
(107,182
)
 
$
33.95

 
(49,661
)
 
$
32.29

 
(46,029
)
 
$
24.45

Restricted shares vested
(375,157
)
 
$
26.62

 
(348,972
)
 
$
24.84

 
(312,191
)
 
$
28.75

Restricted shares outstanding, end of period
896,164

 
$
33.38

 
834,703

 
$
31.89

 
734,286

 
$
22.87