XML 14 R23.htm IDEA: XBRL DOCUMENT  v2.3.0.11
STOCK BASED COMPENSATION (Details) (USD $)
3 Months Ended 6 Months Ended 6 Months Ended 18 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Omnibus Stock Plan
Jun. 30, 2010
Omnibus Stock Plan
Jun. 30, 2011
RLI Corp. Long-Term Incentive Plan (LTIP)
Jun. 30, 2011
RLI Corp. Long-Term Incentive Plan (LTIP)
Stock based compensation                
Shares authorized for grant (in shares)           1,500,000 2,000,000 2,000,000
Stock options granted (in shares)     220,950 183,250     220,950  
Stock options granted to date (in shares)         1,227,445   220,950 428,000
Award vesting period (in years)     five years          
Term of options (in years)     eight years          
Term of options granted prior to 2009 (in years)     ten years          
Age and period of service of the participant to be eligible for retirement (in years)     75          
Number of Options Outstanding                
Options outstanding at the beginning of the period (in shares)     1,524,982 1,583,803        
Options granted (in shares)     220,950 183,250     220,950  
Options exercised (in shares)     (253,816) (155,439)        
Options canceled / forfeited (in shares)     (21,630) (23,130)        
Options outstanding at the end of the period (in shares) 1,470,486 1,588,484 1,470,486 1,588,484        
Options exercisable at the end of the period (in shares) 782,016 910,793 782,016 910,793        
Weighted Average Exercise Price                
Options outstanding at the beginning of the period (in dollars per share)     $ 41.32 $ 44.73        
Options granted (in dollars per share) $ 58.42 $ 55.93 $ 58.42 $ 55.93        
Options exercised (in dollars per share) $ 31.26 $ 31.50 $ 31.26 $ 31.50        
Options canceled/forfeited (in dollars per share) $ 44.83 $ 50.51 $ 44.83 $ 50.51        
Options outstanding at the end of the period (in dollars per share) $ 45.57 $ 47.24 $ 45.57 $ 47.24        
Exercisable options at the end of the period (in dollars per share) $ 42.02 $ 43.59 $ 42.02 $ 43.59        
Weighted Average Remaining Contractual Life                
Weighted-average remaining contractual term of options outstanding (in years) 5.93 5.93 5.93 5.93        
Weighted-average remaining contractual term of exercisable options (in years)     5.04 4.87        
Aggregate Intrinsic Value                
Options exercised (in dollars)     $ 6,265,000 $ 3,784,000        
Options outstanding at the end of the period (in dollars) 24,037,000 8,377,000 24,037,000 8,377,000        
Exercisable options at the end of the period (in dollars) 15,565,000 8,128,000 15,565,000 8,128,000        
Average fair value of options granted (in dollars per share)     $ 12.85 $ 13.37        
Stock-based compensation expenses (in dollars) 1,000,000 900,000 1,700,000 1,600,000        
Income tax benefit from stock-based compensation (In dollars) 300,000 300,000 600,000 600,000        
Unrecognized stock-based compensation expense (in dollars) $ 4,500,000   $ 4,500,000          
Weighted average grant date assumptions and weighted average fair value                
Weighted-average fair value of grants (in dollars per share)     $ 12.85 $ 13.37        
Risk-free interest rates (as a percent)     2.35% 2.76%        
Dividend yield (as a percent)     1.89% 1.74%        
Expected volatility (as a percent)     25.67% 25.91%        
Expected option life (in years)     5.50 5.57        
Period for which annualized dividends is considered to calculate dividend yield (in years)     5          
Period for which volatility is considered to calculate the expected volatility (in years)     1