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Stock Plans (Tables)

12 Months Ended

Dec. 31, 2013

A summary of stock option transactions for the year ended December 31, 2013 is presented below:

Options	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2012		50,000	$	204.76
Granted		--		--
Exercised		--		--
Outstanding at December 31, 2013		50,000	$	204.76	4.9 years
Exercisable at December 31, 2013		15,000	$	196.99	4.7 years

Black-Scholes Option Pricing Model Weighted Average Assumptions

The fair value for the options granted in 2012 and 2011 was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted average assumptions:

	2013		2012			2011
Risk-free interest rate		--		.5	%		1.7	%
Dividend yield		--		1	%		1	%
Volatility factor		--		25.0	%		25.0	%
Expected life		--	5 years			5 years

Restricted Stock Activity

A summary of changes in nonvested restricted stock for the year ended December 31, 2013 is presented below:

Nonvested Shares	Shares			Weighted Average Award Date Fair Value Per Share
Restricted stock at December 31, 2012	13,500		$	207.35
Granted in 2013	--			--
Vested in 2013	(3,000	)	$	211.06
Restricted stock at December 31, 2013	10,500		$	208.09

Changes in Stock Units

A summary of changes in stock units for the year ended December 31, 2013, is presented below:

Nonvested Stock Units	Restricted Stock Units		Weighted Average Award Date Fair Value Per Unit		Director’s Stock Units			Weighted Average Award Date Fair Value Per Unit
Nonvested at December 31, 2012		11,996	$	194.95		--
Granted		908	$	214.76		41		$	199.78
Vested		--		--		(41	)	$	199.78
Nonvested at December 31, 2013		12,904	$	196.35		--

Unrecognized Compensation Cost

Unrecognized compensation cost information for our various stock-based compensation types is shown below as of December 31, 2013:

	Unrecognized Compensation Cost		Weighted Average Remaining Years in Amortization Period
Stock options	$	1,172,000		3.0
Restricted stock		1,812,000		3.0
Restricted stock units		1,355,000		3.3
Total	$	4,339,000

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details