2.2.0.25falsefalse0212 - Disclosure - Share-Based Compensationtruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
USD ($) / shares
USD ($)
$Jan-01-2011_Mar-31-2011http://www.sec.gov/CIK0000899723duration2011-01-01T00:00:002011-03-31T00:00:00USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0us-gaap_ShareBasedCompensationAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 12 - us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Note 12 — Share-Based Compensation</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Under the 2007 Incentive Compensation Plan (the “2007 Plan”), the Company may grant stock options,
stock appreciation rights, restricted stock awards and phantom stock and restricted stock unit
awards to selected employees and non-employee directors. The 2007 Plan also provides for the
issuance of common stock to non-employee directors as all or part of their annual compensation for
serving as directors, as may be determined by the board of directors. The Unaudited Condensed
Statements of Consolidated Income include share-based compensation expense for option grants,
restricted stock awards and restricted stock unit awards granted to employees as a component of
Selling, general and administrative expenses in the amount of $2.2 million and $1.8 million for the
three months ended March 31, 2011 and 2010, respectively. At March 31, 2011, there was $12.3
million of total unrecognized compensation expense related to nonvested share-based awards. That
cost is expected to be recognized as follows: $4.8 million in the remaining nine months of 2011,
$4.9 million in 2012, $2.5 million in 2013 and $0.1 million in 2014. Unearned compensation expense
is recognized over the vesting period for the particular grant. Total unrecognized compensation
cost will be adjusted for future changes in actual and estimated forfeitures and fluctuations in
the fair value of restricted stock unit awards.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Non-employee directors of the Company currently are paid a portion of their annual retainer in
unrestricted shares of common stock. For purposes of determining the number of shares of common
stock to be issued, shares are valued at the average of the high and low price of the Company’s
common stock on the NYSE on the last trading day of the quarter. The Unaudited Condensed Statements
of Consolidated Income include share-based compensation expense for common stock granted to
non-employee directors as a component of Selling, general and administrative expenses in the amount
of $0.1 million for the three months ended March 31, 2011 and 2010. The Company issued 1,935 and
2,124 shares to non-employee directors during the three months ended March 31, 2011 and 2010,
respectively.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Stock Options</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">Options granted generally vest in equal increments over a three-year period from the grant date.
Upon any change in control of the Company, as defined in the applicable plan, or upon death,
disability or retirement, the stock options become 100% vested and exercisable. The Company
accounts for options that vest over more than one year as one award and recognizes expense related
to those awards on a straight-line basis over the vesting period. The Company granted stock options
to purchase 200,200 and 235,350 shares of common stock during the three months ended March 31, 2011
and 2010, respectively. In addition, during the three months ended March 31, 2011, the Company
awarded stock options to purchase 5,289 shares of common stock with a vesting period of one year to
its chief executive officer in connection with achievement in 2010 under the Company’s
high-performance incentive plan.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The fair value of options granted during the three months ended March 31, 2011 and 2010 was
estimated at the date of grant using a Black-Scholes options pricing model with the following
weighted-average assumptions:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Risk-free interest rate
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>2.8</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">2.7</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Dividend yield
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Volatility factor of Company common stock
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>0.56</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">0.58</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Weighted-average expected option life (years)
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>6.0</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">6.0</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Weighted-average grant-date fair value
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>20.01</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">17.23</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The risk-free interest rate assumption is based upon the U.S. Treasury yield curve appropriate for
the term of the options being valued. The dividend yield assumption is zero, as the Company intends
to continue to retain earnings for use in the operations of the business and does not anticipate
paying dividends in the foreseeable future. Expected volatilities are based on historical
volatility of the Company’s common stock. The expected term of options granted is determined using
the simplified method allowed by Staff Accounting Bulletin (“SAB”) No. 110 as historical data was
not sufficient to provide a reasonable estimate. Under this approach, the expected term is presumed
to be the mid-point between the vesting date and the end of the contractual term.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The following table sets forth the number of shares and weighted-average grant-date fair value:
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Weighted</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Average Fair</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Value at Grant</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Shares</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Date</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Non-vested at January 1, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right">397,914</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">17.07</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Granted during the first three months of 2011</b>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>205,489</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>20.01</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Vested during the first three months of 2011</b>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(182,742</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>18.64</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Forfeited during the first three months of 2011</b>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,967</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>18.62</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px"><b>Non-vested at March 31, 2011</b>
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>418,694</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>18.16</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Non-vested at January 1, 2010
</div></td>
<td> </td>
<td> </td>
<td align="right">337,812</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">18.96</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Granted during the first three months of 2010
</div></td>
<td> </td>
<td> </td>
<td align="right">235,350</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">17.23</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Vested during the first three months of 2010
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(169,709</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td align="left">$</td>
<td align="right">21.10</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Forfeited during the first three months of 2010
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,668</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td align="left">$</td>
<td align="right">18.69</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Non-vested at March 31, 2010
</div></td>
<td> </td>
<td> </td>
<td align="right">401,785</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">18.60</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A summary of the Company’s stock option activity for the three months ended March 31, 2011 is as
follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="52%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Weighted</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Weighted</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Average</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Average</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Remaining</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Aggregate</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Exercise</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Contractual</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Intrinsic</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000">(Aggregate intrinsic value in thousands)</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Shares</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Price</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Term (Years)</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Value</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Outstanding at January 1, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,071,454</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>36.27</b></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Granted
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>205,489</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>36.51</b></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Exercised
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(533</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>30.66</b></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Expired unexercised
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Forfeited
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,967</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>34.21</b></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Outstanding at March 31, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,274,443</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>36.31</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>6.92</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>6,399</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Vested or expected to vest at March 31, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,241,372</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>36.31</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>6.87</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>6,265</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Exercisable at March 31, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>855,749</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>38.33</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>5.79</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>4,579</b></td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The Company received cash payments of $3.8 million during the three months ended March 31, 2010 in
connection with the exercise of stock options. The Company may use authorized and unissued or
treasury shares to satisfy stock option exercises and restricted stock awards. The Company does
not settle stock options for cash. The total intrinsic value of options exercised was $2.1 million
during the three months ended March 31, 2010. The intrinsic value of an option represents the
amount by which the market value of the stock exceeds the exercise price of the option.
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Restricted Stock — Performance-Based Awards</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">During the first three months of 2011 and 2010, the Company awarded 117,770 and 120,200 shares,
respectively, of performance-based restricted stock that vest subject to the Company’s financial
performance. The number of shares of restricted stock that ultimately vest is based upon the
Company’s achievement of specific measurable performance criteria. A recipient of performance-based
restricted stock may earn a total award ranging from 0% to 100% of the initial grant, with target
being 50% of the initial grant. The shares awarded during 2011 will vest upon the satisfaction of
established performance criteria based on consolidated EBITDA margin (defined as operating profit
plus depreciation and amortization expense divided by revenue) percentage and average return on net
assets, in each case over a three-year performance period ending December 31, 2013. Shares awarded
during 2010 and 2009 will vest upon the satisfaction of established performance criteria based on
consolidated EBITDA margin measured against a
predetermined peer group, and average return on net assets, in each case over three-year
performance periods ending December 31, 2012 and 2011, respectively.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 6pt">The performance period for the shares awarded during 2008 ended on December 31, 2010. Such shares
were subject to vesting based upon the level of satisfaction of established performance criteria
based on the Company’s consolidated operating profit and average return on net assets, in each case
over the three-year performance period ended December 31, 2010. Based upon the level of
satisfaction of the performance objectives, as determined by the Compensation Committee in February
2011, 1,773 performance-based shares vested and were issued in the first quarter of 2011. Upon
vesting, employees surrendered 578 shares of common stock to the Company to pay required minimum
withholding taxes applicable to the vesting of restricted stock. The surrendered shares are held by
the Company as treasury stock.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The performance period for 86,854 shares awarded during 2007 ended on December 31, 2009. A total of
80,600 of the shares awarded during 2007 were subject to vesting based upon the level of
satisfaction of established performance criteria, based on the Company’s consolidated operating
profit and average return on net assets, in each case over the three-year performance period ended
December 31, 2009. Based upon the level of satisfaction of the performance objectives, as
determined by the Compensation Committee in March 2010, 74,676 performance-based shares vested and
were issued in the first quarter of 2010. Upon vesting, employees surrendered 26,651 shares of
common stock to the Company to pay required minimum withholding taxes applicable to the vesting of
restricted stock. The surrendered shares are held by the Company as treasury stock. The remaining
6,254 shares issued in 2007 did not vest as the Company did not meet an established earnings target
during any one of the years in the three-year performance period ended December 31, 2009.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">The value of the performance-based restricted stock awards was based upon the market price of an
unrestricted share of the Company’s common stock at the date of grant. The Company recognizes
expense related to performance-based restricted stock ratably over the requisite performance period
based upon the number of shares that are anticipated to vest. The number of shares anticipated to
vest is evaluated quarterly and compensation expense is adjusted accordingly. Upon any change in
control of the Company, as defined in the applicable plan, or upon retirement, the shares become
100% vested at the target level. In the event of death or disability, a pro rata number of shares
remain eligible for vesting at the end of the performance period.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A summary of the Company’s performance-based restricted stock awards for the three months ended
March 31, 2011 is as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Weighted</td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Average</td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Grant Date</td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">Shares</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">Fair Value</td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Non-vested at January 1, 2011
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>253,975</b></td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>32.90</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Granted
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>117,770</b></td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>36.51</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Vested
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>(1,773</b></td>
<td nowrap="nowrap" valign="top"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>58.57</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Forfeited
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>(54,502</b></td>
<td nowrap="nowrap" valign="top"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>57.71</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr style="font-size: 1px">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top" style="border-top: 1px solid #000000"> </td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"> </td>
<td valign="top"> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Non-vested at March 31, 2011
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>315,470</b></td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>29.82</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr style="font-size: 1px">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top" style="border-top: 3px double #000000"> </td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"> </td>
<td valign="top"> </td>
</tr>
<tr>
<td style="font-size:10pt"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Expected to vest at March 31, 2011
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>100,988</b></td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"> </td>
<td valign="top"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Restricted Stock Units — Performance-Based Awards</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">During the three months ended March 31, 2011 and 2010, the Company awarded 17,125 and 19,850
performance-based restricted stock units, respectively, to employees outside the U.S. that vest
subject to the Company’s financial performance for three-year performance periods ending on
December 31, 2013 and December 31, 2012, respectively. These awards will be settled in cash based
on the value of the Company’s common stock at the vesting date. Since the awards will be settled
in cash, they are recorded as a liability award in accordance with the “Stock Compensation” topic
of the ASC. Accordingly, the Company records these awards as a component of other non-current
liabilities on the Unaudited Condensed Consolidated Balance Sheets. The fair value of the award,
which determines the measurement of the liability on the balance sheet, is remeasured at each
reporting period until the award is settled. Fluctuations in the fair value of the liability awards
are recorded as increases or decreases to compensation expense. Over the life of these awards, the
cumulative amount of compensation expense recognized will match the actual cash paid. The number of
restricted stock units that ultimately vest is based upon the Company’s achievement of the same
performance criteria as the 2011 and 2010 performance-based restricted stock awards described
above.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 6pt">The Company recognizes expense related to performance-based restricted stock units ratably over the
requisite performance period based upon the number of units that are anticipated to vest. The
number of units anticipated to vest is evaluated quarterly and compensation expense is adjusted
accordingly. Upon any change in control of the Company, as defined in the applicable plan, or upon
retirement, the units become 100% vested at the target level. In the event of death or disability,
a pro rata number of units remain eligible for vesting at the end of the performance period.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A summary of the Company’s performance-based restricted stock unit awards for the three months
ended March 31, 2011 is as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="88%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Units</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Non-vested at January 1, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>38,530</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Granted
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>17,125</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Forfeited
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(770</b></td>
<td nowrap="nowrap"><b>)</b></td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Non-vested at March 31, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>54,885</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Expected to vest at March 31, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>14,760</b></td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Restricted Stock — Time-Based Awards</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">During the three months ended March 31, 2011 and 2010, the Company awarded 60,825 and 62,400 shares
of time-based restricted stock, respectively, that vest three years from the date of grant, subject
to the respective recipient remaining employed by the Company on that date. In addition, during
the three months ended March 31, 2011, the Company awarded 2,767 shares of time-based restricted
stock with a vesting period of one year to its chief executive officer in connection with
achievement in 2010 under the Company’s high-performance annual incentive program. The value of
the restricted stock awards, based upon the market price of an unrestricted share of the Company’s
common stock at the respective dates of grant, was $2.3 million for the 2011 awards and $1.9
million for the 2010 awards. Compensation expense is being recognized ratably over the vesting
period. Upon any change in control of the Company, as defined in the applicable plan, or upon
retirement, the shares become 100% vested. A pro rata number of shares will vest in the event of
death or disability prior to the stated vesting date.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A total of 15,575 shares of time-based restricted stock awarded during 2008 vested during the three
months ended March 31, 2011. Upon vesting, employees surrendered 5,023 shares of common stock to
the Company to pay required minimum withholding taxes applicable to the vesting of restricted
stock. The surrendered shares are held by the Company as treasury stock.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A total of 22,760 shares of time-based restricted stock awarded during 2007 vested during the three
months ended March 31, 2010. Upon vesting, employees surrendered 7,923 shares of common stock to
the Company to pay required minimum withholding taxes applicable to the vesting of restricted
stock. The surrendered shares are held by the Company as treasury stock. In addition, 4,127 shares
granted during 2009 to the Company’s chief executive officer in connection with achievement in 2008
under the Company’s high-performance annual incentive program vested during the three months ended
March 31, 2010. Upon vesting, the Company’s chief executive officer surrendered 1,310 shares of
common stock to the Company to pay required minimum withholding taxes applicable to the vesting of
restricted stock. The surrendered shares are held by the Company as treasury stock.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A summary of the Company’s time-based restricted stock awards for the three months ended March 31,
2011 is as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Weighted</td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Average</td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">Grant Date</td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">Shares</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">Fair Value</td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Nonvested at January 1, 2011
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>99,025</b></td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>32.67</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Granted
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>63,592</b></td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>36.51</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Vested
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>(15,575</b></td>
<td nowrap="nowrap" valign="top"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>58.41</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Forfeited
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>(400</b></td>
<td nowrap="nowrap" valign="top"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>30.66</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr style="font-size: 1px">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top" style="border-top: 1px solid #000000"> </td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"> </td>
<td valign="top"> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Nonvested at March 31, 2011
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>146,642</b></td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"><b>$</b></td>
<td align="right" valign="top"><b>31.61</b></td>
<td nowrap="nowrap" valign="top"> </td>
</tr>
<tr style="font-size: 1px">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top" style="border-top: 3px double #000000"> </td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"> </td>
<td valign="top"> </td>
</tr>
<tr>
<td style="font-size:10pt"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px">Expected to vest at March 31, 2011
</div></td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"><b>140,642</b></td>
<td nowrap="nowrap" valign="top"> </td>
<td> </td>
<td nowrap="nowrap" align="right" valign="top"> </td>
<td align="right" valign="top"> </td>
<td valign="top"> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif">
<div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Restricted Stock Units — Time-Based Awards</b>
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">During the three months ended March 31, 2011 and 2010, the Company awarded 9,095 and 10,550
time-based restricted stock units, respectively, to employees outside the U.S. These awards will
be settled in cash based on the value of the Company’s common stock at the vesting date. Since
the awards will be settled in cash, they are recorded as a liability award in accordance with the
“Stock Compensation” topic of the ASC. Accordingly, the Company records these awards as a component
of other non-current liabilities on the Unaudited Condensed Consolidated Balance Sheets. The fair
value of the award, which determines the measurement of the liability on the balance sheet, is
remeasured at each reporting period until the award is settled. Fluctuations in the fair value of
the liability awards are recorded as increases or decreases to compensation expense. Over the life
of these awards, the cumulative amount of compensation expense recognized will match the actual
cash paid. The restricted share units vest three years from the date of grant, subject to the
respective recipient remaining employed by the Company on that date. Upon any change in control of
the Company, as defined in the applicable plan, or upon retirement, the units become 100% vested. A
pro rata number of units will vest in the event of death or disability prior to the stated vesting
date.
</div>
<div align="left" style="font-size: 10pt; margin-top: 6pt">A summary of the Company’s time-based restricted stock unit awards for the first three months of
2011 is as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="88%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Units</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Nonvested at January 1, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>13,850</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Granted
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>9,095</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Forfeited
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(200</b></td>
<td nowrap="nowrap"><b>)</b></td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Nonvested at March 31, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>22,745</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Expected to vest at March 31, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>20,040</b></td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
falsefalse12Share-Based CompensationUnKnownUnKnownUnKnownUnKnownfalsetrue