Stock-Based Compensation

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

A combined summary of activity in the Corporation’s active stock plans is presented in the following table.



				Non-Vested Stock Awards/Stock Units Outstanding			Stock Options Outstanding
	Shares Available for Grant		Director Deferred Stock Units Outstanding	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares		Weighted- Average Exercise Price
Balance, January 1, 2013	1,157,413		27,724	188,560	$	51.67	5,513,516		$	51.94
Authorized	2,293,660		—	—	—		—		—
Granted	(10,500	)	5,500	—	—		5,000		70.55
Stock options exercised	—		—	—	—		(1,249,874	)	52.03
Stock awards vested	—		—	—	—		—		—
Forfeited	42,000		—	—	—		(42,000	)	51.42
Canceled/expired	—		—	—	—		—		—
Balance, September 30, 2013	3,482,573		33,224	188,560	$	51.67	4,226,642		$	51.94

Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
New shares issued from available authorized shares	—		57,650		153,275		190,321
Issued from available treasury stock	587,650		—		1,096,599		7,640
Total	587,650		57,650		1,249,874		197,961

Proceeds from stock option exercises	$	30,837	$	2,881	$	65,026	$	10,092

Stock-based compensation expense is recognized ratably over the requisite service period for all awards. Stock-based compensation expense was as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Stock options	$	1,981	$	2,190	$	5,947	$	6,549
Non-vested stock awards/stock units	344		354		1,033		1,063
Deferred stock units	—		—		330		330
Total	$	2,325	$	2,544	$	7,310	$	7,942

Unrecognized stock-based compensation expense at September 30, 2013 was as follows:




Stock options	$	11,334
Non-vested stock awards/stock units	1,901
Total	$	13,235

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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