2.2.0.25falsefalse10401 - Disclosure - Share-Based Compensationtruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011 USD ($) USD ($) / shares $Duration_1_1_2011_To_3_31_2011http://www.sec.gov/CIK0000931948duration2011-01-01T00:00:002011-03-31T00:00:00Unit12Standardhttp://www.xbrl.org/2003/iso4217USDiso42170Unit1Standardhttp://www.xbrl.org/2003/instancesharesxbrli0Unit13Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0swc_ShareBasedPaymentsAbstractswcfalsenadurationShare-Based Payments [Abstract]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringShare-Based Payments [Abstract]falsefalseShare-Based Compensation3false0us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div> <div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 18pt; font-size: 10pt;" align="center"><b>NOTE 4<br />SHARE-BASED COMPENSATION</b> </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">Stock Plans </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The Company sponsors stock option plans (the "Plans") that enabled the Company to grant stock options or nonvested shares to employees and non-employee directors. Effective March 1, 2011, the Company ceased offering stock options as incentive compensation to employees and non-employee directors and in the future expects to issue only cash awards or nonvested shares in lieu of stock options. The Company continues to have options issued previously that remain outstanding under three separate plans: the 1994 Incentive Plan, the General Plan and the 2004 Equity Incentive Plan. The 1994 Incentive Plan and the General Plan have been terminated and while no additional options may be issued under these two terminated plans, options issued prior to plan termination remain outstanding. Authorized shares of common stock have been reserved for options that were issued prior to the expiration of the 1994 Incentive Plan and the General Plan. At inception of the plans, approximately 7.8 million shares of common stock were authorized for issuance under the Plans, including approximately 5.2 million, 1.4 million and 1.2 million shares were authorized for the 2004 Equity Incentive Plan, the General Plan and the 1994 Incentive Plan, respectively. Approximately 1.1 million shares were available and reserved for grant under the 2004 Equity Incentive Plan as of March 31, 2011. </div></div> <div style="font-family: 'Times New Roman',Times,serif;"> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The Compensation Committee of the Company's Board of Directors administers the Plans and determines the exercise period, vesting period and all other terms of instruments issued under the Plans. Employees' options and nonvested shares vest in equal annual installments over a three- year period after date of grant. Officers' and directors' options expire ten years after the date of grant. All other employee options expire five to ten years after the date of grant, depending upon the original grant date. The Company received $0.7 million and $0.3 million in cash from the exercise of stock options in the three- month periods ended March 31, 2011 and 2010, respectively. </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The Company recognizes compensation expense associated with its stock option grants based on their fair market value on the date of grant using a Black-Scholes option pricing model. The Company recognizes stock option expense ratably over the vesting period of the options. If options are canceled or forfeited prior to vesting, the Company stops recognizing the related expense effective with the date of forfeiture. The compensation expense, recorded in <i>General and administrative </i>in the Consolidated Statements of Operations and Comprehensive Income, related to the fair value of stock options during the three- month periods ended March 31, 2011 and 2010, was $70,000 and $38,000, respectively. Total compensation expense not yet recognized related to nonvested stock options is $164,000, $97,000 and $33,000 for the remaining nine months of 2011 and for years 2012 and 2013, respectively. </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">Nonvested Shares </div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     The following table summarizes the status of and changes in the Company's nonvested shares during the first three months of 2011: </div> <table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"><td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="font-size: 8pt;" valign="bottom"><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"><b>Weighted-Average</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center"><b>Grant-Date Fair</b></td> <td> </td></tr> <tr style="font-size: 8pt;" valign="bottom"><td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Nonvested Shares</b></td> <td> </td> <td> </td> <td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Value</b></td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Nonvested shares at January 1, 2011</div></td> <td> </td> <td> </td> <td align="right">1,563,886</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">9.37</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Granted</div></td> <td> </td> <td> </td> <td align="right">310,681</td> <td> </td> <td> </td> <td> </td> <td align="right">23.02</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Vested</div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(412,211</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">14.86</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Forfeited</div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(714</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">16.57</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Nonvested shares at March 31, 2011</div></td> <td> </td> <td> </td> <td align="right">1,461,642</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">10.72</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr></table></div> <div style="margin-top: 6pt; font-size: 10pt;" align="left">     Compensation expense related to grants of nonvested shares was $1.5 million and $1.6 million in the three- month periods ended March 31, 2011 and 2010, respectively, and is included within <i>General and administrative </i>in the Consolidated Statements of Operations and Comprehensive Income. The following table presents the compensation expense (in millions) of the nonvested shares outstanding at March 31, 2011 to be recognized over the remaining vesting periods. </div> <table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr valign="bottom"><td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Second quarter 2011</div></td> <td> </td> <td align="left">$</td> <td align="right">1.4</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Third quarter 2011</div></td> <td> </td> <td> </td> <td align="right">1.4</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Fourth quarter 2011</div></td> <td> </td> <td> </td> <td align="right">1.4</td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">2012</div></td> <td> </td> <td> </td> <td align="right">4.8</td> <td> </td></tr> <tr style="background: #cceeff;" valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">2013</div></td> <td> </td> <td> </td> <td align="right">3.0</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td></tr> <tr valign="bottom"><td> <div style="text-indent: -15px; margin-left: 15px;">Total</div></td> <td> </td> <td align="left">$</td> <td align="right">12.0</td> <td> </td></tr> <tr style="font-size: 1px;"><td> <div style="text-indent: -15px; margin-left: 15px;"> </div></td> <td> </td> <td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td> <td> </td></tr></table></div> <div> </div> <div> </div> </div>NOTE 4SHARE-BASED COMPENSATION Stock Plans      The Company sponsors stock option plans (the "Plans") that enabled the Company tofalsefalsefalsefalsefalseOtherus-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 falsefalseShare-Based Compensation12Share-Based CompensationUnKnownUnKnownUnKnownUnKnownfalsetrue