text: period. Non-qualified stock appreciation rights (SARs) and stock options are granted with an exercise price equal to the closing 
  market price of the Company’s common stock at the date of grant and the fair values are determined using a Black-Scholes option 
  pricing model, which incorporates assumptions regarding the expected volatility, the expected option life, the risk-free interest rate 
  and the expected dividend yield. SARs and stock option awards generally vest over four years of continuous service and have ten- 
  year contractual terms. The fair value of restricted stock awards, restricted stock units (RSUs), and performance shares are based on 
  the closing market price of Company common stock on the grant date. 
  
  Treasury Shares 
  
  Shares of common stock repurchased by the Company are recorded at cost as treasury shares and result in a reduction of 
  shareholders’ equity in the consolidated balance sheets. The Company uses the weighted-average cost method for determining the 
  cost of shares reissued. The difference between the cost of the shares and the reissuance price is added to or deducted from 
  additional paid-in capital. 
  
  New Accounting Pronouncement 
  
  In December 2011, the Financial Accounting Standards Board (FASB) issued authoritative guidance on the offsetting of assets and 