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Equity Compensation, Employment Agreements and Other Benefit Plans (Details) (USD $)
0 Months Ended 12 Months Ended
Dec. 14, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Share based compensation        
Maximum shares authorized for grant   13,500,000.0    
Shares available for grant   9,700,000    
Special cash dividends paid (in dollars per share) $ 0.02      
Accrued Dividends Payable   $ 73,643,000 $ 72,222,000 $ 97,525,000
Expense related to equity-based compensation instruments   4,158,000 6,488,000 4,385,000
DER
       
Share based compensation        
Payments attributable to DERs   2,100,000 1,500,000 1,500,000
Special cash dividends paid (in dollars per share)   $ 0.78    
Special cash dividends paid, amount   996,000    
DERS outstanding that are awarded in connection with or attached to RSU (in shares)   850,078    
DERs outstanding that are attached to common stock options (in shares)   1,250    
Average forfeiture rate assumed on DERs outstanding   0.00%    
Weighted average period over which DERs are scheduled to elapse   1 year 10 months 24 days    
Expense related to equity-based compensation instruments   195,000 237,000 122,000
Activity and related information        
Outstanding at beginning of year (in shares)   1,280,898 1,655,848 1,514,767
Granted (in shares)   40,324 21,938 305,000
Cancelled, forfeited or expired   (469,894) (396,888) (163,919)
Outstanding at end of year (in shares)   851,328 1,280,898 1,655,848
Weighted Average Grant Date Fair Value        
Outstanding at beginning of year (in dollars per share)   $ 7.08 [1] $ 7.35 [1] $ 8.40 [1]
Granted (in dollars per share)   $ 9.14 [1] $ 8.17 [1] $ 2.71 [1]
Cancelled/forfeited (in dollars per share)   $ 9.32 [1] $ 8.24 [1] $ 8.48 [1]
Outstanding at end of year (in dollars per share)   $ 5.95 [1] $ 7.08 [1] $ 7.35 [1]
Stock options
       
Share based compensation        
Period to determine market value of the common stock to qualify as an incentive stock option for tax purposes   1 year    
Maximum grant date market value of the common stock to be received upon exercise of options in one calendar year   100,000    
Exercise price of an ISO relative to fair market value on the grant date, minimum (as a percent)   100.00%    
Exercise price of an ISO granted to a 10% stockholder relative to fair market value on the grant date, minimum (as a percent)   110.00%    
Percentage of stockholders to whom 110% of ISO is granted   10.00%    
Maximum period for exercise of stock options   10 years    
Aggregate intrinsic value of total stock options Outstanding   0    
Intrinsic value of options exercised   19,000 6,000  
Expense related to equity-based compensation instruments   0 0 3,000
Stock options activity        
Outstanding at beginning of year (in shares)   427,000 482,000 537,000
Granted (in shares)   0 0 0
Cancelled, forfeited or expired (in shares)   (402,000) (50,000) (55,000)
Exercised (in shares)   (20,000) [2] (5,000) [2] 0 [2]
Outstanding at end of year (in shares)   5,000 427,000 482,000
Options exercisable at end of year (in shares)   5,000 427,000 482,000
Weighted Average Exercise Price        
Outstanding at beginning of year (in dollars per share)   $ 10.14 $ 10.12 $ 10.11
Granted (in dollars per share)   $ 0.00 $ 0.00 $ 0.00
Cancelled, forfeited or expired (in dollars per share)   $ 10.25 $ 10.25 $ 10.06
Exercised (in dollars per share)   $ 8.40 [2] $ 6.99 [2] $ 0.00 [2]
Outstanding at end of year (in dollars per share)   $ 8.40 $ 10.14 $ 10.12
Options exercisable at end of year (in dollars per share)   $ 8.40 $ 10.14 $ 10.12
Restricted Stock
       
Share based compensation        
Unrecognized compensation cost   3,300,000 3,700,000  
Accrued Dividends Payable   413,000 428,000  
Total fair value of stock vested   2,100,000 5,100,000 3,000,000
Period for recognizing unrecognized compensation cost   2 years 8 months 16 days    
Expense related to equity-based compensation instruments   2,150,000 5,102,000 2,996,000
Activity and related information        
Outstanding at beginning of year (in shares)   483,442 752,155 792,824
Granted (in shares)   231,531 418,184 387,418
Vested (in shares)   (270,456) [3] (685,864) [3] (415,890) [3]
Cancelled, forfeited or expired   (550) (1,033) (12,197)
Outstanding at end of year (in shares)   443,967 483,442 752,155
Weighted Average Grant Date Fair Value        
Outstanding at beginning of year (in dollars per share)   $ 7.74 [4] $ 7.33 [4] $ 7.40 [4]
Granted (in dollars per share)   $ 7.33 [4] $ 7.99 [4] $ 7.03 [4]
Vested (in dollars per share)   $ 7.77 [3],[4] $ 7.45 [3],[4] $ 7.19 [3],[4]
Cancelled/forfeited (in dollars per share)   $ 7.72 [4] $ 6.91 [4] $ 7.60 [4]
Outstanding at end of year (in dollars per share)   $ 7.50 [4] $ 7.74 [4] $ 7.33 [4]
Restricted Stock Units
       
Share based compensation        
Unrecognized compensation cost   1,600,000 2,600,000  
Period for recognizing unrecognized compensation cost   1 year 7 months 6 days    
Weighted average forfeiture rate of unvested RSUs (as a percent)   0.00%    
Expense related to equity-based compensation instruments   $ 1,813,000 $ 1,149,000 $ 1,264,000
Activity and related information        
Outstanding at beginning of year (in shares)   727,648 978,848 1,004,017
Granted (in shares)   112,824 94,438 87,500
Settled (in shares)   (53,091) (297,775) (60,169)
Cancelled, forfeited or expired   (9,563) (47,863) (52,500)
Outstanding at end of year (in shares)   777,818 727,648 978,848
Vested but not settled at end of year   98,824 43,875 284,723
Unvested at end of period (in shares)   678,994 683,773 694,125
Weighted Average Grant Date Fair Value        
Outstanding at beginning of year (in dollars per share)   $ 6.43 $ 7.18 $ 7.49
Granted (in dollars per share)   $ 5.82 $ 4.80 $ 4.44
Settled (in dollars per share)   $ 4.15 $ 8.57 $ 8.40
Cancelled/forfeited (in dollars per share)   $ 7.88 $ 5.30 $ 7.14
Outstanding at end of year (in dollars per share)   $ 6.48 $ 6.43 $ 7.18
Vested but not settled at end of year (in dollars per share)   $ 7.93 $ 6.74 $ 8.68
Unvested at end of year (in dollars per share)   $ 6.27 $ 6.41 $ 6.57
RSUs With Service Condition
       
Activity and related information        
Outstanding at beginning of year (in shares)   448,141 722,132 778,142
Granted (in shares)   64,483 38,784 39,159
Settled (in shares)   (21,025) (297,775) (60,169)
Cancelled, forfeited or expired   (1,500) (15,000) (35,000)
Outstanding at end of year (in shares)   490,099 448,141 722,132
Vested but not settled at end of year   84,199 29,250 284,723
Unvested at end of period (in shares)   405,900 [5] 418,891 437,409
Weighted Average Grant Date Fair Value        
Outstanding at beginning of year (in dollars per share)   $ 7.61 $ 8.04 $ 8.15
Granted (in dollars per share)   $ 8.23 [6] $ 7.01 [7] $ 6.13 [8]
Settled (in dollars per share)   $ 6.20 $ 8.57 $ 8.40
Cancelled/forfeited (in dollars per share)   $ 7.77 $ 7.77 $ 7.77
Outstanding at end of year (in dollars per share)   $ 7.75 $ 7.61 $ 8.04
Vested but not settled at end of year (in dollars per share)   $ 8.50 $ 7.77 $ 8.68
Unvested at end of year (in dollars per share)   $ 7.60 $ 7.60 $ 7.62
Fair value assumptions        
Weighted average volatility estimated (as a percent)   23.00% 23.00%  
Expected term   3 years 3 years  
Weighted average risk-free rate (as a percent)   0.65% 0.41%  
Estimated annual dividend yield (as a percent)   13.00% 12.00% 13.00%
Number of shares scheduled to vest annually over a three-year period beginning June 30, 2012   8,053    
Period over which shares will vest beginning June 30, 2012   3 years    
Number of shares scheduled to vest annually over a three-year period beginning September 5, 2012   5,000    
Period over which shares will vest beginning September 5, 2012   3 years    
Number of shares scheduled to vest annually over a three-year period beginning June 30, 2013   8,053    
Period over which shares will vest beginning June 30, 2013   3 years    
Number of shares scheduled to vest on December 31, 2014   352,500    
Number of shares scheduled to vest annually over a three-year period beginning June 30, 2014   8,053    
Period over which shares will vest beginning June 30, 2014   3 years    
RSUs With Service Condition | Minimum
       
Fair value assumptions        
Weighted average volatility estimated (as a percent)       31.00%
Expected term       3 years
Weighted average risk-free rate (as a percent)       0.33%
RSUs With Service Condition | Maximum
       
Fair value assumptions        
Weighted average volatility estimated (as a percent)       36.00%
Expected term       6 years
Weighted average risk-free rate (as a percent)       2.23%
RSUs With Market and Service Conditions
       
Activity and related information        
Outstanding at beginning of year (in shares)   279,507 256,716 225,875
Granted (in shares)   48,341 55,654 48,341
Settled (in shares)   (32,066) 0 0
Cancelled, forfeited or expired   (8,063) (32,863) (17,500)
Outstanding at end of year (in shares)   287,719 279,507 256,716
Vested but not settled at end of year   14,625 14,625 0
Unvested at end of period (in shares)   273,094 [9] 264,882 256,716
Weighted Average Grant Date Fair Value        
Outstanding at beginning of year (in dollars per share)   $ 4.55 $ 4.78 $ 5.18
Granted (in dollars per share)   $ 2.59 [10] $ 3.26 [11] $ 3.08 [12]
Settled (in dollars per share)   $ 2.80 $ 0.00 $ 0.00
Cancelled/forfeited (in dollars per share)   $ 7.89 $ 4.17 $ 5.21
Outstanding at end of year (in dollars per share)   $ 4.32 $ 4.55 $ 4.78
Vested but not settled at end of year (in dollars per share)   $ 4.69 $ 4.69 $ 0.00
Unvested at end of year (in dollars per share)   $ 4.30 $ 4.54 $ 4.78
Fair value assumptions        
Weighted average volatility estimated (as a percent)   23.00% 23.00% 31.00%
Expected term   3 years 3 years 6 years
Weighted average risk-free rate (as a percent)   0.65% 0.41% 2.23%
Estimated annual dividend yield (as a percent)   13.00% 12.00% 13.00%
Number of shares scheduled to vest annually over a three-year period beginning June 30, 2012   16,113    
Period over which shares will vest beginning June 30, 2012   3 years    
Number of shares scheduled to vest annually over a three-year period beginning June 30, 2013   16,113    
Period over which shares will vest beginning June 30, 2013   3 years    
Number of shares scheduled to vest on December 31, 2014   176,250    
Number of shares scheduled to vest annually over a three-year period beginning June 30, 2014   16,113    
Period over which shares will vest beginning June 30, 2014   3 years    
Period for which closing prices are considered for meeting the criteria for shares beginning to vest on June 30, 2012   1 year    
Period for which closing prices are considered for meeting the criteria for shares vesting on December 31, 2014   4 years    
2010 Equity Compensation Plan
       
Share based compensation        
Maximum number of common shares that can be granted to participant in any one year   1,500,000    
Period during which a participant can be awarded the maximum number of shares allowable under the Plan   1 year    
Maximum percentage of common shares that can be owned or deemed to be owned by a participant   9.80%    
[1] The grant date fair value of DERs is based on the weighted average grant date fair value of the attached or associated equity award.
[2] The intrinsic value of Options exercised was approximately $19,000 and $6,000 for the years ended December 31, 2013 and 2012, respectively.
[3] All restrictions associated with restricted stock are removed on vesting.
[4] The grant date fair value of restricted stock awards is based on the closing market price of the Company’s common stock at the grant date.
[5] Of which, approximately 8,053 are scheduled to vest annually over a three-year period beginning June 30, 2012, 5,000 are scheduled to vest annually over a three-year period beginning September 5, 2012, approximately 8,053 are scheduled to vest annually over a three-year period beginning June 30, 2013, 352,500 are scheduled to vest on December 31, 2014, and approximately 8,053 are scheduled to vest annually over a three-year period beginning June 30, 2014, or earlier in the event of death or disability of the grantee or termination of employment of the grantee by the Company for any reason other than “cause” or by the grantee under certain circumstances as defined in the related RSU award agreement.
[6] For RSUs with a service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs. In determining the fair value for awards granted in 2013, the Company applied: (i) a weighted average volatility estimate of approximately 23%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.65% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%. There are no post vesting conditions on these awards.
[7] For RSUs with a service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs. In determining the fair value for awards granted in 2012, the Company applied: (i) a weighted average volatility estimate of approximately 23%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.41% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 12%. There are no post vesting conditions on these awards.
[8] For RSUs with a service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs. In determining the fair value for awards granted in 2011, the Company applied: (i) weighted average volatility estimates ranging from approximately 31% to 36%, which were determined considering historic volatility in the price of Company’s common stock over the three or six-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.33% and 2.23% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%. There are no post vesting conditions on these awards.
[9] Of which, approximately 16,113 are scheduled to vest annually over a three-year period beginning June 30, 2012, approximately 16,113 are scheduled to vest annually over a three-year period beginning June 30, 2013, 176,250 are scheduled to vest on December 31, 2014, and approximately 16,113 are scheduled to vest annually over a three-year period beginning June 30, 2014, provided certain criteria related to total stockholder returns are met, which are based on a formula that includes changes in the Company’s closing stock price over a one, or four-year period, respectively, and dividends declared on the Company’s common stock during those periods. A portion of the RSUs may vest earlier in the event of death or disability of the grantee or termination of employment of the grantee by the Company for any reason other than “cause” or by the grantee under certain circumstances as defined in the related RSU award agreement.
[10] For RSUs with both a market and service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs. In determining the fair value for awards granted in 2013, the Company applied: (i) a weighted average volatility estimate of approximately 23%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.65% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%. There are no post vesting conditions on these awards.
[11] For RSUs with both a market and service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs. In determining the fair value for awards granted in 2012, the Company applied: (i) a weighted average volatility estimate of approximately 23%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.41%based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 12%. There are no post vesting conditions on these awards.
[12] For RSUs with both a market and service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs. In determining the fair value for awards granted in 2011, the Company applied: (i) a weighted average volatility estimate of approximately 31%, which was determined considering historic volatility in the price of Company’s common stock over the six-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 2.23% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%. There are no post vesting conditions on these awards.