STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2013

The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan for the three months ended March 31, 2013:


	Options	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life	Aggregate intrinsic value (in thousands)

Outstanding at December 31, 2012	732,839	$ 40.48	6.3	$ 34,487
Granted	58,196	96.58		322
Exercised	(63,004)	25.21		(4,845)
Canceled	(1)	10.77		-

Outstanding at March 31, 2013	728,030	$ 46.28	6.6	$ 40,641

Exercisable at March 31, 2013	509,685	$ 36.45	5.9	$ 33,465

Schedule of Share-based Fair Value of Each Option Grant Weighted-Average Assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Three months ended March 31,

	2013	2012

Dividend yield	.21%	.17 %
Risk-free interest rate	1.38 %	1.35 %
Stock price volatility	43.8 %	45.0 %
Expected life (years)	5.0	5.0

Restricted Stock Activity and Incentive Stock Awards Activity

The following table summarizes the restricted stock and unit activity for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock awards activity for the 2011 Plan and the 2000 Plan with related information for the three months ended March 31, 2013:


	Restricted Stock and Units	Incentive Stock Awards	Weighted Average Grant Date Fair Value

Outstanding at December 31, 2012	273,387	664,539	$ 53.37
Granted	73,556	98,495	96.58
Vested	(90,766)	(285,459)	40.78
Adjustment for incentive stock awards expected to vest	-	18,343	70.59
Canceled	(644)	(3,175)	40.99

Outstanding at March 31, 2013	255,532	492,743	$ 70.12