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Equity (Tables)
12 Months Ended
Dec. 31, 2012
Equity  
Schedule of stock option activity

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Weighted

 

Remaining

 

Aggregate

 

 

 

 

 

Average

 

Contractual

 

Intrinsic

 

 

 

Options

 

Exercise Price

 

Term (in years)

 

Value

 

 

 

 

 

 

 

 

 

 

 

Options outstanding at January 1, 2010

 

12,704,303

 

$

29.58

 

7.16

 

 

 

Options granted

 

2,602,500

 

43.00

 

 

 

 

 

Options exercised

 

(2,331,429

)

19.99

 

 

 

 

 

Options forfeited

 

(269,050

)

37.18

 

 

 

 

 

Options outstanding at December 31, 2010

 

12,706,324

 

33.93

 

7.18

 

 

 

Options granted

 

2,551,350

 

53.45

 

 

 

 

 

Options exercised

 

(1,037,674

)

25.14

 

 

 

 

 

Options forfeited

 

(203,100

)

39.75

 

 

 

 

 

Options outstanding at December 31, 2011

 

14,016,900

 

38.00

 

6.89

 

 

 

Options granted

 

2,990,000

 

53.31

 

 

 

 

 

Options exercised

 

(3,252,961

)

29.33

 

 

 

 

 

Options forfeited

 

(307,220

)

42.84

 

 

 

 

 

Options outstanding at December 31, 2012

 

13,446,719

 

43.39

 

7.08

 

$

286,596

 

Vested and non-vested expected to vest at December 31, 2012

 

12,329,575

 

43.01

 

6.98

 

$

267,483

 

Exercisable at December 31, 2012

 

5,495,542

 

$

37.02

 

5.55

 

$

152,103

 

Summary of status of non-vested options and changes during the year

 

 

 

 

Options

 

Weighted Average Fair
Value at Grant Date

 

 

 

 

 

 

 

Non-vested options at January 1, 2012

 

7,636,576

 

$

13.41

 

Options granted

 

2,990,000

 

12.96

 

Options vested

 

(2,368,179

)

13.07

 

Options forfeited

 

(307,220

)

13.09

 

Non-vested options at December 31, 2012

 

7,951,177

 

$

13.36

 

Summary of activity in the option plans

During the years ended December 31, 2012, 2011, and 2010, the following activity occurred under the Company’s option plans:

 

 

 

2012

 

2011

 

2010

 

Total intrinsic value of stock options exercised

 

$

95,891

 

$

29,697

 

$

67,841

 

Total fair value of stock options vested

 

30,964

 

28,563

 

23,714

 

Schedule of after-tax components comprising accumulated other comprehensive income (loss) included in shareholders' equity

 

 

 

 

Foreign Currency
Translation
Adjustment

 

Revaluation of
Derivatives

 

Defined Benefit
Plan Liability
Adjustment

 

Accumulated
Other Comprehensive
Income
(Loss)

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2010

 

$

24,141

 

$

(2,363

)

$

(121,868

)

$

(100,090

)

Translation adjustments

 

17,465

 

 

 

17,465

 

Revaluation of interest rate derivatives, net of tax of $1,486

 

 

2,363

 

 

2,363

 

Defined benefit plan liability adjustment, net of tax of $2,639

 

 

 

(4,495

)

(4,495

)

Balance at December 31, 2010

 

41,606

 

 

(126,363

)

(84,757

)

Translation adjustments

 

(10,154

)

 

 

(10,154

)

Revaluation of interest rate derivatives, net of tax of $173

 

 

(287

)

 

(287

)

Defined benefit plan liability adjustment, net of tax of $12,959

 

 

 

(24,859

)

(24,859

)

Balance at December 31, 2011

 

31,452

 

(287

)

(151,222

)

(120,057

)

Translation adjustments

 

25,858

 

 

 

25,858

 

Revaluation of forward contract derivatives, net of tax of $39

 

 

538

 

 

538

 

Defined benefit plan liability adjustment, net of tax of $8,936

 

 

 

(23,343

)

(23,343

)

Balance at December 31, 2012

 

$

57,310

 

$

251

 

$

(174,565

)

$

(117,004

)