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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule Of Restricted Stock Awards Stock Options And SAR
For restricted stock awards, stock options, and stock appreciation rights (SARs), we had:
 
 
2012
 
2011
 
2010
 
(In millions)
Recognized stock compensation expense
$
11.4

 
$
10.0

 
$
10.8

Capitalized stock compensation cost for our oil and natural gas properties
2.7

 
2.5

 
2.7

Tax benefit on stock based compensation
4.5

 
3.9

 
4.1
Estimated Fair Value Of The Stock Options Granted
The table below shows the estimates of the fair value of stock options granted to our non-employee directors under the option plan in 2011 and 2010 using the Black-Scholes model and applying the estimated values also presented in the table:

 
 
2011
 
2010
 
Options granted
 
31,500

 
52,504

(1 
) 
Stock appreciation rights
 
—

 
—

 
Estimated fair value (in millions)
 
$
0.7

 
$
0.8

 
Estimate of stock volatility
 
0.48

 
0.45

 
Estimated dividend yield
 
—
%
 
—
%
 
Risk free interest rate
 
2
%
 
2
%
 
Expected life range based on prior experience (in years)
 
5

 
5

 
Forfeiture rate
 
—
%
 
—
%
 
_________________________
(1)
On May 29, 2009, eight of our directors were each issued 3,063 options contingent on shareholder approval, which was received at the May 5, 2010 annual shareholders’ meeting. These 24,504 options granted and vested simultaneously with that approval.
Activity Pertaining to Stock Appreciation Rights
Activity pertaining to SARs granted under the Unit Corporation Stock and Incentive Compensation Plan is as follows:
 
 
Number of
Shares
 
Weighted
Average
Grant Date
Price
Outstanding at January 1, 2010
145,901

 
$
46.59

Granted
—

 
—

Exercised
—

 
—

Forfeited
—

 
—

Outstanding at December 31, 2010
145,901

 
46.59

Granted
—

 
—

Exercised
—

 
—

Forfeited
—

 
—

Outstanding at December 31, 2011
145,901

 
46.59

Granted
—

 
—

Exercised
—

 
—

Forfeited
—

 
—

Outstanding at December 31, 2012
145,901

 
$
46.59
Activity Pertaining To Restricted Stock Awards
Activity pertaining to restricted stock awards granted under the amended plan is as follows:
 
Employees
Number of
Shares
 
Weighted
Average
Grant Date
Price
Nonvested at January 1, 2010
507,071

 
$
47.46

Granted
450,355

 
41.09

Vested
(496,497
)
 
47.09

Forfeited
(14,804
)
 
44.25

Nonvested at December 31, 2010
446,125

 
47.39

Granted
211,050

 
55.91

Vested
(190,262
)
 
43.32

Forfeited
(18,952
)
 
44.55

Nonvested at December 31, 2011
447,961

 
47.44

Granted
376,445

 
47.37

Vested
(220,788
)
 
45.66

Forfeited
(14,091
)
 
45.37

Nonvested at December 31, 2012
589,527

 
$
48.11


Non-Employee Directors
Number of
Shares
 
Weighted
Average
Grant Date
Price
Nonvested at December 31, 2011
—

 
$
—

Granted
24,606

 
40.23

Vested
—

 
—

Forfeited
—

 
—

Nonvested at December 31, 2012
24,606

 
$
40.23
Activity Pertaining to the Stock Option Plan
Activity pertaining to the Stock Option Plan is as follows:
 
 
Number of
Shares
 
Weighted
Average
Exercise
Price
Outstanding at January 1, 2010
219,625

 
$
29.61

Granted
—

 
—

Exercised
(32,360
)
 
20.35

Forfeited
(2,500
)
 
37.83

Outstanding at December 31, 2010
184,765

 
31.11

Granted
—

 
—

Exercised
(42,285
)
 
28.29

Forfeited
(3,500
)
 
53.90

Outstanding at December 31, 2011
138,980

 
31.39

Granted
—

 
—

Exercised
(18,850
)
 
20.38

Forfeited
(2,100
)
 
37.83

Outstanding at December 31, 2012
118,030

 
$
33.03
Shares Authorized Under Stock Option Plans By Exercise Price Range
 
Outstanding and Exercisable
Options at December 31, 2012
Exercise Prices
Number of
Shares
 
Weighted
Average
Remaining
Contractual
Life
 
Weighted
Average
Exercise
Price
$21.50 - $22.95
37,410
 
0.9 years
 
$22.76
$37.69 - $37.83
80,620
 
2.0 years
 
$37.80
 
Outstanding and Exercisable
Options at December 31, 2012
Exercise Prices
Number of
Shares
 
Weighted
Average
Remaining
Contractual
Life
 
Weighted
Average
Exercise
Price
$20.46
7,000

 
0.3 years
 
$
20.46

$28.23 - $41.21
80,500

 
5.4 years
 
$
36.45

$53.81 - $73.26
105,000

 
5.5 years
 
$
61.24
Activity Pertaining to Nonemployee Director Stock Award Plan
Activity pertaining to the Directors’ Plan is as follows:
 
 
Number of
Shares
 
Weighted
Average
Exercise
Price
Outstanding at January 1, 2010
143,496

 
$
49.38

Granted
52,504

 
37.62

Exercised
(3,500
)
 
17.54

Forfeited
(14,000
)
 
58.20

Outstanding at December 31, 2010
178,500

 
48.77

Granted
31,500

 
53.81

Exercised
(10,500
)
 
21.96

Forfeited
—

 
—

Outstanding at December 31, 2011
199,500

 
48.37

Granted
—

 
—

Exercised
(7,000
)
 
20.28

Forfeited
—

 
—

Outstanding at December 31, 2012
192,500

 
$
49.39