Share-Based Compensation

3 Months Ended

Mar. 31, 2013

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

During the first three months of 2013, we granted 316,500 stock appreciation rights (“SARs”), 63,980 restricted stock units, 68,780 performance shares, and 5,253 phantom stock units. For the three months ended March 31, 2013, total share-based compensation expense was $3.2 million, and the related tax benefits were $1.2 million. For the three months ended March 31, 2012, total share-based compensation expense was $3.1 million, and the related tax benefits were $1.1 million.

The weighted average estimated fair value of our 2013 SARs awards and our related underlying assumptions are shown in the table below.



	2013
Weighted average estimated fair value	$	18.89
Quarterly dividend rate	$	0.30
Expected term of SARs, in years	4.7
Risk-free interest rate	0.7		%
Dividend yield	2.6		%
Expected stock price volatility	42.4		%
Present value of dividends	$	5.60

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

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-Publisher AICPA

-Name Statement of Position (SOP)

-Number 93-6

-Paragraph 53

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details