Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

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

Schedule Of Restricted Stock Awards Stock Options And SAR

For restricted stock awards and stock options, we had:

	2013		2012		2011
	(In millions)
Recognized stock compensation expense	$	16.1	$	11.4	$	10.0
Capitalized stock compensation cost for our oil and natural gas properties	3.5		2.7		2.5
Tax benefit on stock based compensation	6.2		4.5		3.9

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 using the Black-Scholes model and applying the estimated values also presented in the table:

	2011
Options granted	31,500
Estimated fair value (in millions)	$	0.7
Estimate of stock volatility	0.48
Estimated dividend yield	—		%
Risk free interest rate	2		%
Expected life range based on prior experience (in years)	5
Forfeiture rate	—		%

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, 2011	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
Granted	—	—
Exercised	—	—
Forfeited	—	—
Outstanding at December 31, 2013	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, 2011	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
Granted	453,549		48.20
Vested	(248,003	)	46.46
Forfeited	(18,330	)	47.85
Nonvested at December 31, 2013	776,743		$	48.70

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
Granted	21,128		41.65
Vested	(10,030	)	40.23
Forfeited	—		—
Nonvested at December 31, 2013	35,704		$	41.07

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, 2011	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
Granted	—		—
Exercised	(48,110	)	26.09
Forfeited	(1,000	)	37.83
Outstanding at December 31, 2013	68,920		$	37.81

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, 2011	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
Granted	—		—
Exercised	(17,500	)	32.53
Forfeited	(3,500	)	20.46
Outstanding at December 31, 2013	171,500		$	51.70

Shares Authorized Under Stock Option Plans By Exercise Price Range

	Outstanding and Exercisable Options at December 31, 2013
Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price
$37.69 - $37.83	68,920	1.0 year	$37.81

	Outstanding and Exercisable Options at December 31, 2013
Weighted Average Exercise Price	Number of Shares	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price
$28.23 - $41.21	66,500	4.6 years	$	36.64
$53.81 - $73.26	105,000	4.5 years	$	61.24