2.2.0.25falsefalse10901 - Disclosure - Quicksilver Stockholders' Equitytruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
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<div>
<div style="font-family: 'Times New Roman',Times,serif;">
<div style="margin-top: 12pt; font-size: 10pt;" align="left"><b>9. QUICKSILVER STOCKHOLDERS' EQUITY</b> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"><b>Common Stock, Preferred Stock and Treasury Stock</b> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We are authorized to issue 400 million shares of common stock with a $0.01 par value per share and 10 million shares of preferred stock with a $0.01 par value per share. At March 31, 2011 and December 31, 2010, we had 171.3 million and 170.5 million shares of common stock outstanding, respectively. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Note 16 to the consolidated financial statements in our 2010 Annual Report on Form 10-K contains additional information about our equity-based compensation plan. </div></div>
<div style="font-family: 'Times New Roman',Times,serif;">
<div style="margin-top: 12pt; font-size: 10pt;" align="left"><i>Stock Options</i> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Options to purchase shares of common stock were granted in 2011 with an estimated fair value of $7.6 million. The following summarizes the values from and assumptions for the Black-Scholes option pricing model for stock options issued during the three months ended March 31, 2011: </div>
<div align="center">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="50%">
<tr valign="bottom"><td width="88%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2011</b></td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Wtd avg grant date fair value</div></td>
<td> </td>
<td colspan="2" align="center">$9.16</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Wtd avg grant date</div></td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Jan 3, 2011</td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Wtd avg risk-free interest rate</div></td>
<td> </td>
<td colspan="2" align="center">2.38%</td>
<td nowrap="nowrap"> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Expected life (in years)</div></td>
<td> </td>
<td colspan="2" align="center">6.0</td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Wtd avg volatility</div></td>
<td> </td>
<td colspan="2" align="center">66.8%</td>
<td nowrap="nowrap"> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Expected dividends</div></td>
<td> </td>
<td colspan="2" align="center">-</td>
<td> </td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> The following table summarizes our stock option activity for the three months ended March 31, 2011: </div>
<div align="center">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="80%">
<tr valign="bottom"><td width="52%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Wtd Avg</td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Wtd Avg</td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"> </td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Exercise</td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Remaining</td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Aggregate</td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center">Shares</td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center">Price</td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center">Contractual Life</td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center">Intrinsic Value</td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">(In years)</td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">(In thousands)</td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Outstanding at January 1, 2011</div></td>
<td> </td>
<td> </td>
<td align="right">3,348,642</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">11.10</td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 30px;">Granted</div></td>
<td> </td>
<td> </td>
<td align="right">834,970</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">14.88</td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 30px;">Exercised</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(59,127</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">6.21</td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 30px;">Cancelled</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(65,089</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">10.11</td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Outstanding at March 31, 2011</div></td>
<td> </td>
<td> </td>
<td align="right">4,059,396</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">11.96</td>
<td> </td>
<td> </td>
<td colspan="2" align="center">8.1</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">16,776</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Exercisable at March 31, 2011</div></td>
<td> </td>
<td> </td>
<td align="right">2,027,475</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">11.75</td>
<td> </td>
<td> </td>
<td colspan="2" align="center">7.4</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">11,180</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We estimate that a total of 4.0 million stock options will become vested including those options already exercisable. Compensation expense related to stock options of $1.9 million and $1.7 million was recognized for the three months ended March 31, 2011 and 2010, respectively. Cash received from the exercise of stock options totaled $0.4 million for the three months ended March 31, 2011. The total intrinsic value of those options exercised was $0.5 million. </div>
<div style="margin-top: 12pt; font-size: 10pt;" align="left"><i>Restricted Stock</i> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> The following table summarizes our restricted stock and stock unit activity for the three months ended March 31, 2011: </div>
<div align="center">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="80%">
<tr valign="bottom"><td width="52%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="6" nowrap="nowrap" align="center"><b>Payable in shares</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="6" nowrap="nowrap" align="center"><b>Payable in cash</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Wtd Avg Grant</td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Wtd Avg Grant</td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Date Fair</td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center">Date Fair</td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center">Shares</td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center">Value</td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center">Shares</td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center">Value</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Outstanding at January 1, 2011</div></td>
<td> </td>
<td> </td>
<td align="right">2,329,089</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">11.27</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">372,633</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">10.31</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 30px;">Granted</div></td>
<td> </td>
<td> </td>
<td align="right">1,144,724</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">14.85</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">214,515</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">14.88</td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 30px;">Vested</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,089,297</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">12.06</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(137,463</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">9.49</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 30px;">Cancelled</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(63,477</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">11.62</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(5,966</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">13.49</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="3" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Outstanding at March 31, 2011</div></td>
<td> </td>
<td> </td>
<td align="right">2,321,039</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">12.66</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">443,719</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">13.12</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="3" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> As of December 31, 2010, the unrecognized compensation cost related to outstanding unvested restricted stock was $13.9 million, which is expected to be recognized in expense through December 2013. Grants of restricted stock and RSUs during the three months ended March 31, 2011 had an estimated grant date fair value of $17.0 million. The fair value of RSUs settled in cash was $6.3 million at March 31, 2011. For the three months ended March 31, 2011 and 2010, compensation expense of $3.6 million and $3.8 million, respectively, was recognized. The total fair value of shares vested during the three months ended March 31, 2011 was $15.6 million. </div></div></div><a name="_Toc519062933"> </a> </div>9. QUICKSILVER STOCKHOLDERS' EQUITY
Common Stock, Preferred Stock and Treasury Stock
We are authorized to issuefalsefalsefalsefalsefalse | Otherus-types:textBlockItemTypestringDisclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
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-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3
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-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C, E
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-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
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-Number 210
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-Paragraph 29, 30, 31
-Article 5
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-Section B
-Paragraph 7, 11A
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
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-Publisher SEC
-Name Regulation S-X (SX)
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-Section 08
-Article 4
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