XML 31 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Capital Transactions (Tables)
 12 Months Ended
Dec. 31, 2013
Capital Transactions  
Schedule of assumptions used and weighted average fair value for grants
  2013   2012   2011  

Expected annual dividend rate

     1.21 %   1.23 %   1.04 %

Risk-free interest rate

     0.92 %   0.81 %   2.08 %

Average expected life (years)

     6.0     5.6     5.8  

Expected volatility of common stock

     0.446     0.409     0.404  

Forfeiture rate

     0.0 %   0.0 %   0.0 %

Weighted average fair value of option grants

   $ 5.04   $ 4.43   $ 5.74  
Schedule of restricted stock activity
  Number of Shares   Weighted-Average
Grant-Date Fair
Value		  

Non-vested shares outstanding at December 31, 2010

     659,263     18.97  

Granted

     249,502     15.51  

Vested

     (238,848 )   25.80  

Cancelled

     (58,315 )   15.71  
           
​ ​ ​ ​ ​ ​ ​ ​

Non-vested shares outstanding at December 31, 2011

     611,602     15.08  

Granted

     318,139     13.04  

Vested

     (212,841 )   14.95  

Cancelled

     (18,015 )   14.20  
           
​ ​ ​ ​ ​ ​ ​ ​

Non-vested shares outstanding at December 31, 2012

     698,885     14.21  

Granted

     312,104     13.41  

Vested

     (231,465 )   14.35  

Cancelled

     (45,933 )   13.69  
           
​ ​ ​ ​ ​ ​ ​ ​

Non-vested shares outstanding at December 31, 2013

     733,591     13.79  
Schedule of stock option activity

  2013   2012   2011  
 
   Number of
Options		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term		   Aggregate
Intrinsic
Value
($000)		   Number of
Options		   Weighted
Average
Exercise
Price		   Number of
Options		   Weighted
Average
Exercise
Price		  

Outstanding at beginning of year

     3,653,859   $ 18.44     2.3 years   $ —     4,176,673   $ 19.26     4,586,979   $ 19.96  

Granted

     173,560     13.24                 200,115     13.06     327,617     15.45  

Exercised

     (75,080 )   10.91                 (179,204 )   10.57     (5,941 )   10.57  

Cancelled

     (344,764 )   20.67                 (543,725 )   25.35     (731,982 )   24.73  
                                             
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Outstanding at end of year

     3,407,575     17.99     1.8 years     —     3,653,859     18.44     4,176,673     19.26  
                                             
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                             

Exercisable at December 31, 2013

     2,818,464     18.83     1.1 years     —                          

Exercisable at December 31, 2012

     3,031,825     19.28     1.8 years     —                          
Schedule of non-vested stock options

The following table summarizes the status of the Company's non-vested stock options as of December 31, 2013:

 
   Number of
Shares		   Weighted-Average
Grant-Date
Fair Value		  

Non-vested shares at beginning of year

     622,034   $ 4.99  

Granted

     173,560     5.04  

Vested

     (206,483 )   4.78  

Cancelled

     —     —  
           
​ ​ ​ ​ ​ ​ ​ ​

Non-vested shares at end of year

     589,111     5.07  
Schedule of stock options outstanding

The following table summarizes information about the Company's stock options outstanding at December 31, 2013:

 
   Options Outstanding   Options Exercisable  
Range of Exercise Prices
  Number
Outstanding		   Weighted Average
Remaining
Contractual Life		   Weighted Average
Exercise Price		   Number
Exercisable		   Weighted Average
Exercise Price		  

$10 to $16

     1,240,074     3.7 years   $ 14.51     650,963   $ 15.00  

$17 to $21

     1,593,980     0.8 years     17.72     1,593,980     17.72  

$22 to $28

     573,521     0.6 years     26.29     573,521     26.29  
                             
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

$10 to $28

     3,407,575     1.8 years     17.99     2,818,464     18.83