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Stock-Based Compensation Plans (Tables)
 9 Months Ended
Sep. 30, 2012
Stock-Based Compensation Plans [Abstract]  
Weighted-Average Assumptions For The Employee Stock Option Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

 

 
2012 
2011 

 
2012 
2011 

Dividend Yield (1)

 

 
2.67% 

 
2.65% 

 

 
2.64% 

 
2.69% 

Expected volatility (2)

 

 
46.91% 

 
42.21% 

 

 
45.17% 

 
41.13% 

Risk-free interest rate (3)

 

 
0.64% 

 
0.98% 

 

 
0.79% 

 
1.61% 

Expected term of options (years) (4)

 

 

         4.05 

 

      4.05 

 

 

     4.04 

 

    4.05 

Weighted-avg. grant date fair value

 

$

         5.23 

$

     7.10 

 

$

     6.09 

$

   7.82 

 

(1)

Represents the Company’s estimated cash dividend yield over the expected term of option grant.

(2)

Amount is determined based on analysis of historical price volatility of the Company’s common stock. The expected volatility is based on the daily percentage change in the price of the stock over a period equal to the expected term of the option grant.

(3)

Represents the U.S. Treasury yield over the expected term of the option grant.

(4)

Represents the period of time that options granted are expected to be outstanding.  Based on analysis of historical option exercise activity, the Company has determined that all employee groups exhibit similar exercise and post-vesting termination behavior.