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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

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

Schedule of Stock-based Compensation Expense

A summary of stock-based compensation expense for the years ended December 31, 2012, 2011 and 2010 is as follows:



	December 31,
	2012		2011		2010
Employee Stock Purchase Plan (ESPP)	$	641,000	$	282,000	$	317,000
Stock-based compensation — Stock options	1,897,000		1,870,000		1,015,000
Total pre-tax stock-based compensation expense charged against income (1)	$	2,538,000	$	2,152,000	$	1,332,000


(1)	Stock-based compensation expense is recorded in the selling, general and administrative caption in our consolidated statements of comprehensive income.

Summary Of Other Information Of Stock Option Plans

Other information pertaining to activity of our stock options during the years ended December 31, 2012, 2011 and 2010 was as follows:



	2012		2011		2010
Aggregate intrinsic value of stock options exercised	$	10,465,000	$	5,059,000	$	5,613,000
Aggregate intrinsic value of outstanding stock options	$	26,472,000	$	19,570,000	$	21,393,000
Total grant-date fair value of stock options granted	$	2,438,000	$	1,477,000	$	2,176,000
Total fair value of options vested during period	$	1,409,000	$	1,551,000	$	579,000

A summary of stock option activity is as follows:



	2012				2011				2010
	Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price		Number of Shares
Beginning of period	$	10.97	2,912,000		$	9.14	3,002,000		$	7.55	3,077,000
Granted	17.50		601,000		16.11		510,000		14.31		670,000
Cancelled	14.53		(134,000	)	12.67		(96,000	)	9.27		(41,000	)
Exercised	7.81		(747,000	)	4.93		(504,000	)	7.10		(704,000	)
End of period	$	13.18	2,632,000		$	10.97	2,912,000		$	9.14	3,002,000

Summarized Information Of Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2012.



	Options Outstanding				Options Exercisable
Exercise Price Range	Number Outstanding	Average Remaining Contractual Life	Weighted Average Exercise Price Per Share		Number Exercisable	Weighted Average Exercise Price
$3.68 — 10.39	812,000	3.63	$	7.53	605,000	$	6.56
13.93	296,000	5.01	13.93		206,000	13.93
14.31	506,000	7.01	14.31		160,000	14.31
16.11	444,000	8.01	16.11		69,000	16.11
$17.50	574,000	8.99	17.50		—	17.50
	2,632,000	6.34	$	13.18	1,040,000	$	9.84

Assumption For Fair Value Of Options Granted

The fair value of options granted during 2012, 2011 and 2010 is estimated on the date of grant using the Black-Scholes option valuation model based on the following assumptions:



	2012	2011	2010
Risk-free interest rate	1.30%	2.60%	2.50%
Weighted average expected life in years — Stock Options	6.8 years	7.4 years	4.5 years
Expected volatility	39.2%	27.4%	42.1%
Dividend yield	3.60%	3.66%	3.45%
Forfeiture rate	2.90%	3.81%	3.88%

Summary Of ESPP Annual Offerings

The following table summarizes information about our ESPP annual offerings for the years ended December 31, 2012, 2011 and 2010:



	ESPP Annual Offering
	2012		2011		2010
Common shares purchased	79,000		71,000		75,000
Per common share purchase Price	$	15.04	$	13.83	$	12.07
Amount expensed under ESPP	$	641,000	$	282,000	$	317,000
Net proceeds from issuance	$	1,192,000	$	978,000	$	911,000
Common shares date of issue	Jan. 4, 2013		Jan. 4, 2012		Jan. 6, 2011

Summary Of Information Of SERP

The following table summarizes information about our SERP for the plan years ended December 31, 2012, 2011 and 2010:



	SERP Plan Year
	2012			2011				2010
Amount of company match expensed under SERP	$	560,000		$	444,000			$	400,000
Treasury shares issued to fund SERP expense	24,000			26,000				25,000
SERP trust account balance at December 31	$	24,997,000	⁽¹⁾	$	18,942,000		⁽¹⁾	$	16,534,000	⁽¹⁾
Unrealized gain (loss) recorded in SERP liability account	$	1,718,000		$	(104,000	)		$	1,325,000

(1)

SERP trust account investments are recorded at their fair value which is based on quoted market prices. Differences between such amounts in the table above and the deferred compensation funding asset reported on our Consolidated Balance Sheets represent the value of our Common Stock held in the Plan’s participants’ trust account and reported by us as treasury stock in our Consolidated Balance Sheets.

- Definition

Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

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- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References+ Details