Stock-Based Compensation

6 Months Ended

Jun. 30, 2011

Stock-Based Compensation

Stock-Based Compensation

Note 10 - Stock-Based Compensation

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, 2011		2,759,347			16,515		227,550		$	51.10		4,383,885		$	52.08
Granted		(5,577	)		5,577		—			—		—			—
Stock options exercised		—			—		—			—		(144,203	)		50.19
Stock awards vested		—			—		(85,420	)		50.64		—			—
Forfeited		41,625			—		—			—		(41,625	)		51.45
Balance, June 30, 2011		2,795,395			22,092		142,130		$	51.38		4,198,057		$	52.15

During the six months ended June 30, 2011 and 2010, proceeds from stock option exercises totaled $7.2 million and $23.2 million. During the six months ended June 30, 2011, 140,739 shares issued in connection with stock option exercises were new shares issued from available authorized shares, while 3,464 shares were issued from available treasury stock.

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,
	2011		2010		2011		2010
Stock options	$	2,303	$	2,091	$	4,613	$	4,637
Non-vested stock awards/stock units		1,213		1,019		2,640		2,121
Deferred stock units		330		300		330		300
Total	$	3,846	$	3,410	$	7,583	$	7,058

Unrecognized stock-based compensation expense at June 30, 2011 was as follows:

Stock options	$	17,756
Non-vested stock awards/stock units		2,552
Total	$	20,308