Quarterly report pursuant to Section 13 or 15(d)

Share-based compensation (Tables)

v2.3.0.15
Share-based compensation (Tables)
3 Months Ended
Sep. 30, 2011
Stock Option Activity

Option activity under the Company’s stock option plans during the quarter ended September 30, 2011 was as follows:

 

     Shares
(in
thousands)
    Weighted
Average

Exercise
Price
     Weighted
Average
Contractual
Life (Yrs.)
     Aggregate
Intrinsic

Value
 

Outstanding at June 30, 2011

     499      $ 64.15         

Granted

     25      $ 76.15         

Exercised

     (1   $ 39.93         
  

 

 

         

Outstanding at September 30, 2011

     523      $ 64.78         6.0       $ 2.9 million   
  

 

 

         

Exercisable at September 30, 2011

     314      $ 59.16         5.8       $ 2.8 million   
  

 

 

         
Assumptions Used in Black-Scholes Option-Pricing Model

The fair value of options granted under the Company’s stock option plans was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions used:

 

     Quarter Ended
September 30,
 
     2011     2010  

Dividend yield

     1.4     1.8

Expected annualized volatility

     23     23

Risk free interest rate

     1.4     1.4

Expected life

     4 years        4 years