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SHARE-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Compensation cost charged to expense under all share-based incentive awards
Compensation cost charged to expense under all share-based incentive awards is presented below (in thousands):

 
2014
 
2013
 
2012
Restricted shares and restricted share units
$
23,577

 
$
23,786

 
$
18,557

Share appreciation rights
3,724

 
6,412

 
5,358

Share options
—

 
23

 
152

Performance-based awards
7,246

 
3,710

 
741

Total compensation cost
$
34,547

 
$
33,931

 
$
24,808
Restricted share activity
Restricted share activity for the year ended December 31, 2014, is summarized below:
 
Number of Shares
 
Weighted-average grant-date fair value per share
Nonvested at January 1, 2014
553,441

 
$
36.50

Granted
—

 
—

Vested
(340,633
)
 
37.35

Forfeited
(2,254
)
 
36.10

Nonvested at December 31, 2014
210,554

 
$
35.13
Employee restricted share unit activity
Employee RSU activity for the year ended December 31, 2014, follows:
 
Number of Shares
 
Weighted-average grant-date fair value per share
Nonvested at January 1, 2014
603,665

 
$
34.44

Granted
842,836

 
32.45

Vested
(279,191
)
 
34.17

Forfeited
(35,157
)
 
33.65

Nonvested at December 31, 2014
1,132,153

 
$
33.05
Non-employee director restricted share units activity
Non-employee director RSU activity for the year ended December 31, 2014, follows:

 
Number of shares
 
Weighted-average grant-date fair value per share
Outstanding at January 1, 2014
250,648

 
$
32.42

Granted
54,041

 
31.10

Settled
(37,251
)
 
33.25

Outstanding at December 31, 2014
267,438

 
$
32.04

 
 
 
 
Vested at December 31, 2014
216,254

 
$
32.22
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:

 
2013
 
2012
Expected life in years
6.0
 
6.0
Risk-free interest rate
1.058%
 
1.108%
Expected volatility
41.11%
 
44.30%
Weighted-average grant-date per-share fair value
$13.91
 
$15.28
Stock appreciation rights activity
SARs activity for the year ended December 31, 2014, 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, 2014
1,831,695

 
$
30.45

 
 
 
 
Exercised
(67,707
)
 
17.39

 
 
 
 
Forfeited or expired
(2,718
)
 
35.47

 
 
 
 
Outstanding at December 31, 2014
1,761,270

 
$
30.94

 
5.0
 
$
2,451

 
 
 
 
 
 
 
 
Exercisable at December 31, 2014
1,444,099

 
$
30.15

 
4.3
 
$
2,451
Share option activity
Share option activity for the year ended December 31, 2014, 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, 2014
384,643

 
$
24.52

 
 
 
 
Exercised
(189,000
)
 
25.00

 
 
 
 
Forfeited or expired
(10,239
)
 
43.85

 
 
 
 
Outstanding at December 31, 2014
185,404

 
$
22.96

 
2.7
 
$
835

 
 
 
 
 
 
 
 
Exercisable at December 31, 2014
185,404

 
$
22.96

 
2.7
 
$
835