2.2.0.25falsefalse10901 - Disclosure - Share-Based Compensation Planstruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
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<div style="margin-top: 12pt; font-size: 10pt;" align="left"><b>9. Share-Based Compensation Plans</b> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Our share-based compensation plans include both restricted share units and stock option awards. The following table summarizes our share-based compensation expense and related income tax benefit: </div>
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<td style="border-bottom: #000000 1px solid;" colspan="6" nowrap="nowrap" align="center"><b>Fiscal Three Months Ended March 31,</b></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"><b>2011</b></td>
<td> </td>
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<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td>
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<div style="text-indent: -15px; margin-left: 15px;">Share-based compensation</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">4,871</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">4,602</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Related income tax benefit</div></td>
<td> </td>
<td> </td>
<td align="right">81</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">99</td>
<td> </td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> As of March 31, 2011, we had $15,338 and $19,089 of total unrecognized compensation cost related to stock options and restricted share units, respectively. Those amounts are expected to be recognized as expense over a weighted-average period of approximately 26 months. </div>19 </div>
<h5 align="left"><a href="blank#Y90624tocpage">Table of Contents</a></h5>
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<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We estimate the fair value of each option award on the date of grant using the Black-Scholes option valuation model. We then recognize the grant date fair value of each option as compensation expense ratably using the straight-line attribution method over the service period (generally the vesting period). The Black-Scholes model incorporates the following assumptions: </div>
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<td>Expected volatility — we estimate the volatility of our shares using a "look-back" period which coincides with the expected term, defined below. We believe using a "look-back" period which coincides with the expected term is the most appropriate measure for determining expected volatility.</td></tr></table></div>
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<td width="2%" nowrap="nowrap" align="left"><b>•</b></td>
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<td>Expected term — we estimate the expected term using the "simplified" method, as outlined in Staff Accounting Bulletin No. 107, "Share-Based Payment."</td></tr></table></div>
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<td>Risk-free interest rate — we estimate the risk-free interest rate using the U.S. Treasury yield curve for periods equal to the expected term of the options in effect at the time of grant.</td></tr></table></div>
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<td width="2%" nowrap="nowrap" align="left"><b>•</b></td>
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<td>Dividends — we use an expected dividend yield of zero because we have not declared or paid a cash dividend since July 2001 and we do not have any plans to declare or pay any cash dividends.</td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We estimate the fair value of each restricted share unit award using the market price of our shares on the date of grant. We then recognize the fair value of each restricted share unit award as compensation cost ratably using the straight-line attribution method over the service period (generally the vesting period). </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Certain of our executives have been awarded performance-based restricted stock units. Under these awards, the number of restricted stock units that ultimately vest depend on our share price performance against specified performance goals, which are defined in our performance-based award agreement. We estimate the grant date fair value of the performance-based restricted share unit award using a Monte Carlo valuation model. We then recognize the fair value of each restricted share unit award as compensation cost ratably using the straight-line attribution method over the service period (generally the vesting period). During the fiscal three months ended March 31, 2011, performance-based restricted share units totaling 92,971 were granted at an estimated grant date fair value of $25.08 per unit. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Our share-based compensation plans include a "change in control" provision, which provides for cash redemption of equity awards issued thereunder in certain limited circumstances. In accordance with Securities and Exchange Commission Accounting Series Release No. 268, "Presentation in Financial Statements of Redeemable Preferred Stocks," we present the redemption amount of these equity awards as temporary equity on the consolidated balance sheet as the equity award is amortized during the vesting period. The redemption amount represents the intrinsic value of the equity award on the grant date. In accordance with current accounting guidance regarding the classification and measurement of redeemable securities, we do not adjust the redemption amount each reporting period unless and until it becomes probable that the equity awards will become redeemable (upon a change in control event). Upon vesting of the equity awards, we reclassify the intrinsic value of the equity awards, as determined on the grant date, to permanent equity. A reconciliation of temporary equity for the fiscal first three months ended March 31, 2011 and 2010 were as follows: </div>
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<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>March 31, 2011</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>March 31, 2010</b></td>
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<div style="text-indent: -15px; margin-left: 15px;">Balance at beginning of year</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">4,935</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,570</td>
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<div style="text-indent: -15px; margin-left: 15px;">Compensation cost during the period for those equity awards with intrinsic value on the grant date</div></td>
<td> </td>
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<td align="right">2,580</td>
<td> </td>
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<td align="right">2,279</td>
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<div style="text-indent: -15px; margin-left: 15px;">Intrinsic value of equity awards vested during the period for those equity awards with intrinsic value on the grant date</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,510</td>
<td nowrap="nowrap">)</td>
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<td nowrap="nowrap" align="left"> </td>
<td align="right">(20</td>
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<div style="text-indent: -15px; margin-left: 15px;">Balance at end of period</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">6,005</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">4,829</td>
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<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
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<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Our articles of association provide for conditional capital of 63,207,957 registered shares for the issuance of shares under our share-based compensation plans and other convertible or exercisable securities we may issue in the future. Conditional capital decreases upon issuance of shares in connection with the exercise of outstanding stock options or vesting of restricted share units, with an offsetting increase to our issued share capital. As of March 31, 2011, our remaining available conditional capital was 60,255,245 shares. </div></div></div></div></div> </div>9. Share-Based Compensation Plans
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-Paragraph 64, 65, A240
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-Name Statement of Position (SOP)
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-Paragraph 53
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-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
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