STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2014

Recognition of Pre-Tax Compensation Expense

The Company recognized pre-tax compensation expense recorded in salaries and related in the consolidated statements of operations as follows:

	Three months ended June 30,				Six months ended June 30,
	2014		2013		2014		2013
Non-vested stock, included in salaries and related	$	9,063	$	5,470	$	17,236	$	12,264

Non-Vested Stock Activity

The Company’s non-vested stock activity is as follows (shares in thousands):

	Six months ended June 30
	2014					2013
	Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date
Non-vested at beginning of period		13,142		$	5.58		7,639		$	10.01
Granted RSAs		—		$	—		1,165		$	4.68
Granted RSUs		226		$	5.84		267		$	4.38
Forfeited		(259	)	$	5.77		(629	)	$	9.32
Vested		(1,762	)	$	10.35		(2,516	)	$	10.59
Non-vested at end of period		11,347		$	4.77		5,926		$	8.43

Stock Option Activity

The Company’s stock option activity is as follows (shares in thousands):

	Six months ended June 30,
	2014					2013
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding as of the beginning of the period		928		$	29.68		1,029		$	29.04
Exercised		—		$	—		—			—
Forfeited/expired/cancelled		(371	)	$	24.32		(69	)	$	20.23
Outstanding at end of the period		557		$	33.09		960		$	29.68
Options exercisable at end of period		557		$	33.09		960		$	29.68
Aggregate intrinsic value of options exercised during the period	$	—				$	—