Share-Based Compensation

6 Months Ended

Jun. 30, 2013

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

Share-Based Compensation

Share-Based Compensation

For the three and six months ended June 30, 2013 and 2012, we recorded share-based compensation and related tax benefits as follows:

	Three months ended June 30,						Six months ended June 30,
(Dollars in thousands)	2013			2012			2013			2012
Share-based compensation expense	$	6,396		$	5,828		$	12,222		$	10,977
Income tax benefit related to share-based compensation expense	(1,955		)	(1,489		)	(3,558		)	(2,688		)

Unrecognized Compensation Expense

As of June 30, 2013, unrecognized share-based compensation expense was as follows:

(Dollars in thousands)	Unrecognized   Expense		Average Expected Recognition   Period - in Years
Stock options	$	19,262	2.83
Restricted stock units	38,270		2.89
Total unrecognized share-based compensation expense	$	57,532

Share-Based Payment Award Activity

The table below provides stock option information related to the 1997 Equity Incentive Plan and the 2006 Equity Incentive Plan for the six months ended June 30, 2013:

	Options		Weighted Average  Exercise Price		Weighted Average Remaining Contractual   Life in Years	Aggregate   Intrinsic Value   of In-The- Money Options
Outstanding at December 31, 2012	2,060,413		$	49.15
Granted	304,675		71.15
Exercised	(515,693	)	46.84
Forfeited	(29,096	)	54.41
Expired	(953	)	51.86
Outstanding at June 30, 2013	1,819,346		53.40		4.46	$	54,437,326
Vested and expected to vest at June 30, 2013	1,755,204		52.96		4.40	53,284,085
Exercisable at June 30, 2013	901,146		44.57		3.26	34,920,695

The aggregate intrinsic value of outstanding options shown in the table above represents the pretax intrinsic value based on our closing stock price of $83.32 as of June 30, 2013. The total intrinsic value of options exercised during the three and six months ended June 30, 2013 was $7.2 million and $11.9 million, respectively, compared to $1.8 million and $13.7 million for the comparable 2012 periods.

The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the six months ended June 30, 2013:

	Shares		Weighted Average     Grant Date Fair     Value
Nonvested at December 31, 2012	585,543		$	59.42
Granted	320,287		71.16
Vested	(162,974	)	56.67
Forfeited	(19,111	)	59.48
Nonvested at June 30, 2013	723,745		65.23