Equity

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note [Abstract]

Equity

Equity

Dividends declared per common share were $1.80 for each of the years ended December 31, 2012, 2011 and 2010. Dividends include dividend equivalents of $5.6 million, $4.8 million and $5.2 million paid in 2012, 2011 and 2010, respectively, on outstanding restricted stock units. In the event a restricted stock unit holder’s employment is terminated, a portion of the dividend equivalent may be required to be paid back to the Company. For the years ended December 31, 2012, 2011 and 2010, $117,241, $360,769 and $12,040, respectively, of dividend equivalents were paid back to the Company. See “Note 12 — Restricted Stock Units”.

In connection with the acquisition of Caliburn on April 1, 2010, the Company issued 1,099,874 shares of its common stock and 1,099,877 shares of Performance Stock. The Performance Stock does not pay dividends and will convert to shares of the Company’s common stock if certain revenue targets are achieved. During 2012, the performance target related to the first tranche of Performance Stock was achieved. As a result, on April 1, 2013, 659,926 shares of Performance Stock will convert to common stock. If the revenue target related to the second tranche of Performance Stock is not achieved, the remaining Performance Stock will be canceled. See “Note 3 — Acquisition” and “Note 10 — Earnings Per Share”.

During 2012, 654,612 restricted stock units vested and were issued as common stock of which the Company is deemed to have repurchased 181,820 shares at an average price of $45.29 per share in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units. In addition, during 2012 the Company repurchased in open market transactions 1,714,614 shares of its common stock at an average price of $43.70.

During 2011, 654,000 restricted stock units vested and were issued as common stock of which the Company is deemed to have repurchased 283,774 shares at an average price of $67.19 per share in conjunction with the payment of tax liabilities in respect of stock delivered to its employees in settlement of restricted stock units. In addition, during 2011 the Company repurchased in open market transactions 1,068,719 shares of its common stock at an average price of $43.71.