SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2012

SHARE-BASED COMPENSATION PLANS [Abstract]

Compensation cost charged to expense under all share-based incentive awards

Restricted share awards, share appreciation rights and options granted generally have multiple vesting dates.  The Company recognizes compensation cost for share-based awards on a straight-line basis over the requisite service period for the entire award.  Compensation cost charged to expense under all share-based incentive awards is presented below (in thousands):

	2012		2011			2010
Restricted shares and restricted share units	$	18,557	$	15,912		$	13,379
Share appreciation rights		5,358		5,813			2,678
Share options		152		239			239
Performance-based awards		741		124			(718	)
Total compensation cost		24,808		22,088			15,578
Less: Discontinued operations		-		(1,003	)		(1,310	)
Continuing operations	$	24,808	$	21,085		$	14,268

Restricted share activity

Restricted Shares – A restricted share represents an ordinary share subject to a vesting period that restricts its sale or transfer until the vesting period ends.  In general, the restricted shares vest and the restrictions lapse in one-third increments each year over a three-year service period, or in some cases, cliff vest at the end of a three-year service period.  The Company measures compensation based on the market price of the shares on the date of grant.  Restricted share activity for the year ended December 31, 2012, is summarized below:

	Number of Shares			Weighted-average grant-date fair value per share
Nonvested at January 1, 2012		878,489		$	31.49
Granted		678,829			35.32
Vested		(503,055	)		28.01
Forfeited		(22,229	)		27.26
Nonvested at December 31, 2012		1,032,034		$	35.80

Employee restricted share unit activity

Employee Restricted Share Units – Restricted share units (RSUs) are rights to receive a specified number of ordinary shares or an equivalent value in cash.  RSUs granted to employees typically vest in one-third increments over a three-year service period or in some cases cliff vest at the end of three years and are settled at the time of vesting.  The Company measures compensation based on the market price of the underlying shares on the grant date.  The Company intends to settle employee RSUs in shares and has therefore accounted for the awards as equity awards.  Employee RSU activity for the year ended December 31, 2012, follows:

	Number of Shares			Weighted-average grant-date fair value per share
Nonvested at January 1, 2012		-		$	-
Granted		25,236			34.78
Vested		(1,092	)		35.47
Forfeited		-			-
Nonvested at December 31, 2012		24,144		$	34.74

Non-employee director restricted share units activity

Non-employee Director Restricted Share Units – RSUs granted to nonemployee directors generally cliff vest at the earlier of the first anniversary of the grant date or the next annual meeting of shareholders following the grant date and are settled in either cash or shares at the discretion of the Compensation Committee determined at the time the director terminates service to the Board.  The Company accounts for RSUs granted to non-employee directors under the liability method of accounting.  Compensation is recognized over the service period initially based on the market price of the underlying shares on the grant date and is adjusted for changes in market value through the settlement date.  Non-employee director RSU activity for the year ended December 31, 2012, follows:

	Number of shares			Weighted-average grant-date fair value per share
Outstanding at January 1, 2012		207,971		$	34.59
Granted		53,217			33.82
Settled		(43,072	)		32.36
Outstanding at December 31, 2012		218,116		$	32.71
Vested at December 31, 2012		164,899		$	32.36

Weighted-average assumptions used to determine fair values of SARs

Fair values of SARs granted were determined using the Black-Scholes option pricing model with the following weighted-average assumptions:

	2012			2011			2010
Expected life in years		6.0			5.7			6.0
Risk-free interest rate		1.108	%		2.269	%		2.725	%
Expected volatility		44.30	%		49.16	%		50.16	%
Weighted-average grant-date per-share fair value	$	15.28		$	19.76		$	14.00

Stock appreciation rights activity

SARs activity for the year ended December 31, 2012, is summarized below:

	Number of shares under SARs			Weighted-average exercise price		Weighted-average remaining contractual term (in years)		Aggregate intrinsic value (in thousands)
Outstanding at January 1, 2012		1,188,435		$	27.43
Granted		260,052			35.44
Exercised		(26,151	)		20.02
Forfeited		(5,367	)		35.47
Outstanding at December 31, 2012		1,416,969		$	29.01		6.5	$	7,174
Exercisable at December 31, 2012		876,442		$	24.67		5.8	$	6,933

Share option activity

Share option activity for the year ended December 31, 2012, is summarized below:

	Number of shares under option			Weighted-average exercise price		Weighted-average remaining contractual term (in years)		Aggregate intrinsic value (in thousands)
Outstanding at January 1, 2012		559,205		$	23.26
Exercised		(27,908	)		21.07
Forfeited or expired		(251	)		23.18
Outstanding at December 31, 2012		531,046		$	23.37		2.3	$	4,331
Exercisable at December 31, 2012		531,046		$	23.37		2.3	$	4,331