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Share-Based Payment Arrangements (Tables)
12 Months Ended
Dec. 31, 2012
Schedule of Option Activity Under Stock Option Plans

A summary of option activity for 2012 is presented below:

 

Options

   Number of
Shares
    Weighted-
Average
Exercise
Price ($)
     Weighted-
Average
Remaining
Contractual
Term
(Years)
     Aggregate
Intrinsic
Value
($000)
 

Outstanding at January 1, 2012

     1,686,907      $ 41.05         

Granted

     152,140        29.73         

Exercised

     (73,275     22.36         

Forfeited or expired

     (210,476     57.69         
  

 

 

   

 

 

    

 

 

    

 

 

 

Outstanding at December 31, 2012

     1,555,296      $ 38.57         5.3       $ 1,112   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable at December 31, 2012

     1,056,172      $ 41.75         3.8       $ 526   
  

 

 

   

 

 

    

 

 

    

 

 

 
Stock Options, Valuation Assumption

The risk-free rate for periods within the contractual life of the option was based on the U.S. Treasury yield curve in effect at the time of grant.

 

     Years Ended December 31,  
     2012     2011     2010  

Expected volatility

     38.64     38.90     40.53

Expected dividends

     3.23     3.20     2.90%-2.99

Expected term (in years)

     6.58        6.38        9.55   

Risk-free rates

     1.78     1.99     2.73%-3.33
Schedule of Nonvested Restricted and Performance Shares

A summary of the status of the Company’s nonvested restricted and performance shares as of December 31, 2012, and changes during 2012, is presented below:

 

     Number of
Shares
    Weighted-
Average
Grant-Date
Fair Value ($)
 

Nonvested at January 1, 2012

     957,536      $ 33.61   

Granted

     890,744        29.62   

Vested

     (73,598     39.69   

Forfeited

     (90,322     32.33   
  

 

 

   

 

 

 

Nonvested at December 31, 2012

     1,684,360      $ 31.30