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Stock Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2013
Stock Incentive Plans (Tables) [Abstract]  
Fair value of each option grant estimated on weighted-average assumptions:
Year Ended
December 31, 2012December 31, 2011
Dividend yield5.16%5.74%
Expected volatility35.15%34.80%
Risk-free interest rate1.48%2.87%
Expected life (in years) 7.0 7.0
Weighted-average fair value$11.11$9.60
Summary of stock options activity
Year Ended
December 31, 2013December 31, 2012December 31, 2011
Number ofWeightedNumber ofWeightedNumber ofWeighted
SharesAverageSharesAverageSharesAverage
Stock Options(000's)Exercise Price(000's)Exercise Price(000's)Exercise Price
Options at beginning of year 1,162$ 46.40 1,252$ 42.12 1,207$ 39.45
Options granted - - 332 57.33 289 49.17
Options exercised (214) 42.16 (341) 40.11 (232) 36.92
Options terminated (14) 48.09 (81) 51.81 (12) 43.09
Options at end of period 934$ 47.35 1,162$ 46.40 1,252$ 42.12
Options exercisable at end of period 421$ 43.99 313$ 40.82 427$ 39.45
Weighted average fair value of
options granted during the period $ 11.11 $ 9.60
Options OutstandingOptions Exercisable
NumberWeightedWeighted AverageNumberWeightedWeighted Average
OutstandingAverageRemainingExercisableAverageRemaining
Range of Per Share Exercise Prices(thousands)Exercise PriceContract Life(thousands)Exercise PriceContract Life
$30-$40 195$ 36.80 4.3 130$ 36.70 3.9
$40-$50 461 45.77 5.8 236 44.86 5.1
$50+ 278 57.33 8.0 55 57.33 8.0
Totals 934$ 47.35 6.1 421$ 43.99 5.1
Aggregate intrinsic value$ 6,855,000$ 4,224,000
Non-vested stock incentive awards
Stock OptionsRestricted Stock
Number ofWeighted-AverageNumber ofWeighted-Average
SharesGrant DateSharesGrant Date
(000's)Fair Value(000's)Fair Value
Non-vested at December 31, 2012 849$ 8.97 601$ 52.60
Vested (322) 8.50 (164) 47.50
Granted - - 364 61.97
Terminated (14) 9.05 (13) 55.15
Non-vested at December 31, 2013 513$ 9.26 788$ 56.92