Stock Award Plans (Tables)

12 Months Ended

Dec. 31, 2012

Compensation Cost Breakdown In Statement Of Earnings

The Company has share-based compensation plans which are described below. The compensation cost that has been charged against earnings for the Company's stock award plans and the income tax benefit recognized in the statement of earnings for stock awards for the years ended December 31, 2012, 2011 and 2010 were as follows (in thousands):

	2012		2011		2010
Compensation cost	$	9,796	$	9,228	$	10,867
Income tax benefit	$	3,644	$	3,534	$	4,162

Summary Of Stock Option Activity Under Employee Plans

The following is a summary of the stock option activity under the employee plans described above for the years ended December 31, 2012, 2011 and 2010:

	Outstanding Non-Qualified or Nonincentive Stock Awards			Weighted Average Exercise Price
Outstanding at December 31, 2009		640,483		$	33.39
Granted		103,999		$	32.60
Exercised		(228,543	)	$	28.36
Canceled or expired		(81,492	)	$	45.73

Outstanding at December 31, 2010		434,447		$	33.53
Granted		103,021		$	47.01
Exercised		(91,794	)	$	32.75
Canceled or expired		—		$	—

Outstanding at December 31, 2011		445,674		$	36.81
Granted		99,906		$	65.80
Exercised		(191,955	)	$	35.65
Canceled or expired		(2,452	)	$	58.28
Outstanding at December 31, 2012		351,173		$	45.54

The following table summarizes information about the Company's outstanding and exercisable stock options under the employee plan at December 31, 2012:

	Options Outstanding								Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life in Years		Weighted Average Exercise Price		Aggregated Intrinsic Value		Number Exercisable		Weighted Average Exercise Price		Aggregated Intrinsic Value
$23.98 — $32.56		126,698		3.5	$	30.67				93,363	$	30.03
$34.40 — $36.35		24,000		1.4	$	34.73				22,666	$	34.63
$46.74		100,569		5.0	$	46.74				33,515	$	46.74
$65.28 — $66.72		99,906		6.1	$	65.80				─	$	─
$23.98 — $66.72		351,173		4.5	$	45.54	$	5,741,000		149,544	$	34.47	$	4,100,000

The following is a summary of the stock option activity under the director plan described above for the years ended December 31, 2012, 2011 and 2010:

	Outstanding Non-Qualified or Nonincentive Stock Awards			Weighted Average Exercise Price
Outstanding at December 31, 2009		301,937		$	33.43
Granted		57,492		$	41.24
Exercised		(3,000	)	$	10.67
Outstanding at December 31, 2010		356,429		$	34.88
Granted		60,552		$	56.42
Exercised		(63,356	)	$	32.17
Outstanding at December 31, 2011		353,625		$	39.05
Granted		66,306		$	62.39
Exercised		(73,993	)	$	28.22
Outstanding at December 31, 2012		345,938		$	45.84

The following table summarizes information about the Company's outstanding and exercisable stock options under the director plan at December 31, 2012:

	Options Outstanding								Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life in Years		Weighted Average Exercise Price		Aggregate Intrinsic Value		Number Exercisable		Weighted Average Exercise Price		Aggregate Intrinsic Value
$12.69 — $17.88		24,000		0.8	$	15.29				24,000	$	15.29
$20.28 — $29.60		36,000		5.0	$	26.49				36,000	$	26.49
$35.17 — $36.82		62,036		3.7	$	35.84				62,036	$	35.84
$41.24 — $56.45		157,596		7.0	$	51.89				157,596	$	51.89
$61.89 — $62.48		66,306		7.9	$	62.39				65,728	$	62.39
$12.69 — $62.48		345,938		6.0	$	45.84	$	5,551,000		345,360	$	45.81	$	5,552,000

Summary Of Restricted Stock Award Activity

The following is a summary of the restricted stock award activity under the employee plans described above for the years ended December 31, 2012, 2011 and 2010:

	Unvested Restricted Stock Award Shares			Weighted Average Grant Date Fair Value Per Share
Nonvested balance at December 31, 2009		542,679		$	30.70
Granted		197,994		$	33.42
Vested		(234,831	)	$	39.34
Forfeited		(6,507	)	$	32.00
Nonvested balance at December 31, 2010		499,335		$	31.98
Granted		150,612		$	46.50
Vested		(163,480	)	$	33.27
Forfeited		(10,835	)	$	38.90
Nonvested balance at December 31, 2011		475,632		$	36.43
Granted		121,953		$	67.79
Vested		(168,166	)	$	35.43
Forfeited		(11,291	)	$	58.64
Nonvested balance at December 31, 2012		418,128		$	45.39

The following is a summary of the restricted stock award activity under the director plan described above for the years ended December 31, 2012, 2011 and 2010:

	Unvested Restricted Stock Award Shares			Weighted Average Grant Date Fair Value Per Share
Nonvested balance at December 31, 2009		732		$	29.77
Granted		11,097		$	41.33
Vested		(11,304	)	$	40.58
Nonvested balance at December 31, 2010		525		$	41.33
Granted		11,990		$	56.85
Vested		(10,767	)	$	55.90
Nonvested balance at December 31, 2011		1,748		$	58.07
Granted		10,383		$	62.99
Vested		(11,783	)	$	62.26
Nonvested balance at December 31, 2012		348		$	62.99

Summary Of Stock Option Valuation Assumptions

The weighted average per share fair value of stock options granted during the years ended December 31, 2012, 2011 and 2010 was $22.21, $18.84 and $13.81, respectively. The fair value of the stock options granted during the years ended December 31, 2012, 2011 and 2010 was $3,691,000, $3,081,000 and $2,231,000, respectively. The Company currently uses treasury stock shares for restricted stock grants and stock option exercises. The fair value of each stock option was determined using the Black-Scholes option pricing model. The key input variables used in valuing the stock options during the years ended December 31, 2012, 2011 and 2010 were as follows:

	2012			2011				2010
Dividend yield	None			None			None
Average risk-free interest rate		1.1	%		2.4	%		3.1	%
Stock price volatility		33	%		33	%		33	%
Estimated option term	Six years or seven years			Six years or seven years			Six years or seven years