Stock-Based Compensation

6 Months Ended

Jun. 30, 2014

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

Stock-Based Compensation

Stock-Based Compensation

A combined summary of activity in the Corporation’s active stock-based compensation 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, 2014	2,862,603		33,224	199,740	$	55.32	4,738,690		$	54.35
Authorized	—		—	—	—		—		—
Granted	(100,643	)	5,643	—	—		95,000		79.16
Stock options exercised	—		—	—	—		(384,775	)	52.26
Stock awards vested	—		—	—	—		—		—
Forfeited	40,220		—	—	—		(40,220	)	56.08
Canceled/expired	—		—	—	—		—		—
Balance, June 30, 2014	2,802,180		38,867	199,740	$	55.32	4,408,695		$	55.05

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   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013
New shares issued from available authorized shares	—		—		—		153,275
Issued from available treasury stock	54,950		266,799		384,775		508,949
Total	54,950		266,799		384,775		662,224
Proceeds from stock option exercises	$	2,830	$	13,743	$	20,109	$	34,189

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   June 30,				Six Months Ended   June 30,
	2014		2013		2014		2013
Stock options	$	1,754	$	1,968	$	3,524	$	3,966
Non-vested stock awards/stock units	366		345		732		689
Deferred stock units	440		330		440		330
Total	$	2,560	$	2,643	$	4,696	$	4,985

Unrecognized stock-based compensation expense at June 30, 2014 was as follows:

Stock options	$	13,886
Non-vested stock awards/stock units	2,097
Total	$	15,983