XML 25 R42.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCK-BASED COMPENSATION (Details) (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
STOCK-BASED COMPENSATION    
Total compensation expense related to stock options and restricted stock awards, before taxes $ 3,600,000 $ 2,300,000
Total compensation expense related to stock options and restricted stock awards, net income 2,100,000 1,300,000
Net tax benefit recognized in equity for stock compensation plans 29,000 43,000
Incentive shares available to be issued 4,299,396  
Stock Options
   
Summary of Stock-based Compensation Plans    
Vesting period, minimum (in years) P3Y  
Vesting period, maximum (in years) P4Y  
Summary of stock option activity    
Outstanding at beginning of period (in shares) 945,080  
Exercised (in shares) (93,753)  
Forfeited (in shares) (80,129)  
Outstanding at end of period (in shares) 771,198  
Vested or expected to vest at end of period (in shares) 766,785  
Exercisable at end of period (in shares) 727,070  
Outstanding at beginning of period, weighted average exercise price (in dollars per share) $ 27.19  
Exercised, weighted average exercise price (in dollars per share) $ 16.42  
Forfeited, weighted average exercise price (in dollars per share) $ 36.06  
Outstanding at end of period, weighted average exercise price (in dollars per share) $ 27.58  
Vested or expected to vest at end of period, weighted average exercise price (in dollars per share) $ 27.65  
Exercisable at end of period, weighted average exercise price (in dollars per share) $ 28.39  
Outstanding at end of period, weighted average remaining term (in years) 2.22  
Vested or expected to vest at end of period, weighted average remaining term (in years) 2.21  
Exercisable at end of period, weighted average remaining term (in years) 2.15  
Outstanding at end of period, aggregate intrinsic value 1,446,000  
Vested or expected to vest at end of period, aggregate intrinsic value 1,407,000  
Exercisable at end of period, aggregate intrinsic value 1,054,000  
Summary of unvested stock option activity    
Unvested options at beginning of period, weighted average grant date fair value (in shares) 186,914  
Vested, weighted average grant date fair value (in shares) (134,132)  
Forfeited, weighted average grant date fair value (in shares) (8,654)  
Unvested options at end of period, weighted average grant date fair value (in shares) 44,128  
Unvested options at beginning of period (in dollars per share) $ 4.77  
Granted (in dollars per share)   $ 13.21 [1]
Vested (in dollars per share) $ 4.51  
Forfeited (in dollars per share) $ 13.21  
Unvested options at ending of period (in dollars per share) $ 3.89  
Fair value assumptions under the Black-Scholes option pricing model    
Fair value assumptions, method used   Black-Scholes option-pricing model
Expected term (in years)   4 [2]
Expected volatility (as a percent)   78.50% [3]
Expected dividend yield (as a percent)   0.20% [4]
Risk-free interest rate (as a percent)   1.60% [5]
Share based compensation plan, additional disclosures    
Cash proceeds from stock option exercises 1,500,000 1,600,000
Weighted average grant date fair value of stock options granted during the period (in dollars per share)   $ 13.21 [1]
Total intrinsic value of options exercised 575,000 1,197,000
Total fair value of options vested 3,001,000 1,144,000
Total unrecognized stock compensation expense 73,000  
Weighted average period to recognize unrecognized compensation cost (in years) 1.5  
Stock Options | Maximum
   
Summary of Stock-based Compensation Plans    
Contractual term of stock option grants (in years) P10Y  
Stock Options | Minimum
   
Summary of Stock-based Compensation Plans    
Contractual term of stock option grants (in years) P7Y  
Restricted Stock Awards
   
Summary of Stock-based Compensation Plans    
Vesting period, minimum (in years) P1Y  
Vesting period, maximum (in years) P5Y  
Time-based restricted stock awards
   
Share based compensation plan, additional disclosures    
Total unrecognized stock compensation expense 13,800,000  
Weighted average period to recognize unrecognized compensation cost (in years) 2.0  
Total fair value of restricted stock awards vested 1,800,000 1,700,000
Summary of restricted stock awards activity    
Outstanding unvested at beginning of period (in shares) 1,812,890  
Granted (in shares) 18,115  
Vested (in shares) (80,306)  
Forfeited (in shares) (47,489)  
Outstanding unvested at end of period (in shares) 1,703,210  
Outstanding unvested at beginning of period, weighted average price (in dollars per share) $ 16.79  
Granted, weighted average price (in dollars per share) $ 20.98 $ 21.61
Vested, weighted average price (in dollars per share) $ 27.21  
Forfeited, weighted average price (in dollars per share) $ 17.84  
Outstanding unvested at end of period, weighted average price (in dollars per share) $ 16.32  
Performance-based restricted stock awards
   
Share based compensation plan, additional disclosures    
Total unrecognized stock compensation expense 16,000,000  
Weighted average period to recognize unrecognized compensation cost (in years) 2.5  
Total fair value of restricted stock awards vested $ 1,900,000  
Summary of restricted stock awards activity    
Outstanding unvested at beginning of period (in shares) 480,735  
Granted (in shares) 465,175  
Vested (in shares) (90,406)  
Forfeited (in shares) (9,898)  
Outstanding unvested at end of period (in shares) 845,606  
Outstanding unvested at beginning of period, weighted average price (in dollars per share) $ 22.19  
Granted, weighted average price (in dollars per share) $ 22.05 $ 23.11
Vested, weighted average price (in dollars per share) $ 23.11  
Forfeited, weighted average price (in dollars per share) $ 22.84  
Outstanding unvested at end of period, weighted average price (in dollars per share) $ 22.01  
[1] The Company did not issue any stock options during the three months ended March 31, 2012.
[2] The expected term (estimated period of time outstanding) of stock options granted was estimated using the historical exercise behavior of employees.
[3] The expected volatility was based on historical volatility for a period equal to the stock options expected term.
[4] The expected dividend yield is based on the Company's prevailing dividend rate at the time of grant.
[5] The risk-free rate is based on the U.S. Treasury strips in effect at the time of grant equal to the stock options expected term.