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STOCK COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2011
STOCK COMPENSATION PLANS  
Schedule of share-based compensation, stock options, activity

 

              A summary of activity for the Company's stock options as of and for the year ended December 31, 2011 is presented below:

 
  Shares   Weighted
Average
Exercise
Price
  Weighted
Average
Remaining
Contractual
Term
  Aggregate
Intrinsic
Value
(In thousands)
 

Outstanding at beginning of year

    1,438,979   $ 24.21            

Granted

    8,654     23.11            

Exercised

    (330,756 )   12.70            

Forfeited

    (171,797 )   29.92            
                       

Outstanding at end of year

    945,080   $ 27.19   2.28 years   $ 782  
                   

Vested or expected to vest at year-end

    933,258   $ 27.30   2.26 years   $ 739  
                   

Exercisable at year-end

    758,166   $ 29.34   1.98 years   $ 350  
                   
Schedule of non-vested stock options activity

 

 

Unvested Options
  Shares   Weighted Average Grant Date Fair Value (per share)  

Unvested at January 1, 2011

    416,851   $ 5.04  

Granted

    8,654     13.21  

Vested

    (227,813 )   5.59  

Forfeited

    (10,778 )   4.56  
           

Unvested at December 31, 2011

    186,914   $ 4.77  
           
Schedule of share-based payment award, stock options, valuation assumptions

 

 

 
  Year Ended December 31,  
 
  2011   2010(5)   2009  

Expected term(1)

    4 years   N/A     4 years  

Expected volatility(2)

    78.1 % N/A     60.5 %

Expected dividend yield(3)

    0.2 % N/A     0.6 %

Risk-free interest rate(4)

    1.6 % N/A     1.8 %

(1)
The expected term (estimated period of time outstanding) of stock options granted was estimated using the historical exercise behavior of employees.

(2)
The expected volatility was based on historical volatility for a period equal to the stock option's expected term.

(3)
The expected dividend yield is based on the Company's prevailing dividend rate at the time of grant.

(4)
The risk-free rate is based on the U.S. Treasury strips in effect at the time of grant equal to the stock option's expected term.

(5)
The Company did not issue any stock options during the year ended December 31, 2010.
Schedule summarizing information about stock options outstanding

The following table summarizes information about stock options outstanding as of December 31, 2011:

 
  Options Outstanding   Options Exercisable  
Range of Exercise Prices
  Number of
Outstanding
Options
  Weighted
Average
Exercise
Price
  Weighted
Average
Remaining
Contractual
Life
  Number of
Exercisable
Options
  Weighted Average Exercise Price  

$0.00 to $4.99

    15,530   $ 4.25   4.25 years       $  

$5.00 to $9.99

    7,292     5.43   4.21 years          

$10.00 to $14.99

    32,528     13.62   1.42 years     24,115     13.17  

$15.00 to $19.99

    117,511     17.73   2.47 years     90,117     17.63  

$20.00 to $24.99

    364,982     21.14   3.21 years     236,697     21.09  

$25.00 to $29.99

                   

$30.00 to $34.99

    18,320     33.82   0.57 years     18,320     33.82  

$35.00 to $39.99

    382,168     37.83   1.38 years     382,168     37.83  

$40.00 to $44.99

    6,749     40.36   1.66 years     6,749     40.36  
                       

$0.00 to $44.99

    945,080   $ 27.19   2.28 years     758,166   $ 29.34  
                       
Schedule of share-based compensation arrangement by share-based payment award, options, grants in period, grant date intrinsic value

 

 

 
  Year Ended December 31,  
 
  2011   2010   2009  

Weighted average grant date fair value of stock options granted during the year(1)

  $ 13.21   $   $ 3.00  

Total intrinsic value of options exercised (in thousands)

  $ 2,650   $ 1,772   $ 53  

Total fair value of options vested (in thousands)

  $ 1,274   $ 2,137   $ 1,638  

(1)
The Company did not issue any stock options during the year ended December 31, 2010.
Schedule of share-based compensation, time-based and performance-based restricted stock awards activity

 

 

 
  2011  
 
  Restricted Stock  
 
  Time-Based   Performance-Based  
 
  Shares   Weighted
Average
Price
  Shares   Weighted
Average
Price
 

Outstanding at beginning of year

    1,789,498   $ 17.09       $  

Granted

    502,781     19.17     513,022     22.25  

Vested

    (242,025 )   23.82          

Forfeited

    (240,193 )   17.05     (32,287 )   23.11  
                   

Outstanding at end of year

    1,810,061   $ 16.77     480,735   $ 22.19