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Compensatory Unit Awards and Option Plans (Tables)
12 Months Ended
Dec. 31, 2012
Compensatory Unit Awards and Option Plans [Abstract]  
Valuations Assumptions
Options to buy Holding Units (including grants to Eligible Directors) were granted as follows: 114,443 options were granted during 2012, 70,238 options were granted during 2011 and 387,661 options were granted during 2010. The weighted average fair value of options to buy Holding Units granted during 2012, 2011 and 2010 was $3.67, $5.98 and $6.18, respectively, on the date of grant, determined using the Black-Scholes option valuation model with the following assumptions:
 
 
 
 
2012
 
 
2011
 
 
2010
 
 
 
 
 
 
 
 
 
 
 
Risk-free interest rate
 
 
0.7
%
 
 
1.9
%
 
 
2.2 – 2.3
%
Expected cash distribution yield
 
 
6.2
%
 
 
5.4
%
 
 
7.2 – 8.2
%
Historical volatility factor
 
 
49.2
%
 
 
47.3
%
 
 
46.2 – 46.6
%
Expected term
 
6.0 years
 
 
6.0 years
 
 
6.0 years
 
Summary of option plan activity
The following table summarizes the activity in our option plan during 2012:

 
 
Options to Buy
Holding
Units
 
 
Weighted
Average
Exercise Price
Per Option
 
 
Weighted
Average
Remaining
Contractual
Term (Years)
 
 
Aggregate
Intrinsic Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding as of December 31, 2011
 
 
8,994,229
 
 
$
39.63
 
 
 
6.4
 
 
 
 
Granted
 
 
114,443
     
14.58
 
 
 
 
 
 
 
 
Exercised
 
 
     
 
 
 
 
 
 
 
 
Forfeited
 
 
(11,500
)
   
33.18
 
 
 
 
 
 
 
 
Expired
 
 
(543,827
)
   
32.34
 
 
 
 
 
 
 
 
Outstanding as of December 31, 2012
 
 
8,553,345
     
39.77
 
 
 
5.8
 
 
$
 
Exercisable as of December 31, 2012
 
 
4,237,915
     
33.85
 
 
 
5.7
 
 
 
 
Vested or expected to vest as of December 31, 2012
 
 
8,553,345
     
39.77
 
 
 
5.8
 
 
 
 
Summary of unvested restricted Holding Units
The following table summarizes the activity of unvested restricted Holding Units during 2012:

 
 
Holding
Units
 
 
Weighted Average
Grant Date Fair
Value per Holding
Unit
 
 
 
 
 
 
 
 
Unvested as of December 31, 2011
 
 
15,574,191
 
 
$
23.88
 
Granted
 
 
12,099,291
 
 
 
14.48
 
Vested
 
 
(8,507,437
)
 
 
21.65
 
Forfeited
 
 
(728,556
)
 
 
20.67
 
Unvested as of December 31, 2012
 
 
18,437,489
     
18.79