Annual report pursuant to Section 13 and 15(d)

STOCK INCENTIVE AND STOCK OPTION PLANS (Tables)

v2.4.0.6
STOCK INCENTIVE AND STOCK OPTION PLANS (Tables)
12 Months Ended
Dec. 31, 2012
STOCK INCENTIVE AND STOCK OPTION PLANS  
Activity in stock option plans

 

 

 
  Options   Weighted-average
Exercise Price
  Weighted-
average
Remaining
Contractual
Life
(in years)
  Aggregate
Intrinsic
Value
 

Balance at December 31, 2009

    896,830   $ 22.55            

Granted

    387,250     62.74            

Exercised

    (195,530 )   17.36            

Forfeited

    (8,555 )   41.54            

Expired

    (6,400 )   9.33            
                     

Balance at December 31, 2010

    1,073,595     37.92            

Granted

    316,159     115.71            

Exercised

    (134,520 )   23.93            

Forfeited

    (12,197 )   57.68            
                     

Balance at December 31, 2011

    1,243,037     59.02            

Granted

    321,945     119.34            

Exercised

    (241,815 )   31.73            

Forfeited

    (13,999 )   67.86            
                     

Balance at December 31, 2012

    1,309,168   $ 78.80   7.30   $ 44,192,177  
                     

Exercisable, December 31, 2010

    222,110   $ 26.36   5.40   $ 18,683,972  

Exercisable, December 31, 2011

    721,210   $ 38.75   6.25   $ 37,526,500  

Exercisable, December 31, 2012

    785,869   $ 51.40   6.26   $ 44,176,663  
Weighted-average grant date fair value of performance and restricted shares

 

 

 
  Performance Shares   Restricted Shares  
 
  Shares   Weighted-average
Fair Value
  Shares   Weighted-average
Fair Value
 

Nonvested at December 31, 2009

    1,213,386   $ 40.63     69,866   $ 27.68  

Granted

    186,947     60.92     68,290     52.16  

Vested

    (704,931 )   38.62     (68,266 )   27.33  

Cancelled

    (200,324 )   56.53          

Forefeited

    (13,307 )   30.98          
                   

Nonvested at December 31, 2010

    481,771     45.10     69,890     51.94  

Granted

    229,436     86.65     13,555     108.51  

Vested

    (178,653 )   48.03     (1,600 )   42.61  

Forfeited

    (7,163 )   59.15          
                   

Nonvested at December 31, 2011

    525,391     62.05     81,845     61.49  

Granted

    325,590     89.92     3,150     91.68  

Vested

    (194,484 )   25.46     (22,766 )   52.16  

Forfeited

    (26,413 )   91.94          
                   

Nonvested at December 31, 2012

    630,084   $ 86.49     62,229   $ 66.43  
                   
Fair value of option grant estimated on the grant date using Black-Scholes option pricing model assumptions

 

 

 
  Years ended
December 31,
 
 
  2012   2011   2010  

Expected life (years)

    5     5     5  

Risk-free interest rate

    1.05 %   1.87 %   2.26 %

Expected volatility

    58.98 %   55.39 %   54.23 %

Dividend yield

    1.3 %   1.3 %   1.4 %