XML 44 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation Plans
3 Months Ended
Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation Plans
Stock-Based Compensation Plans
Grant Activities
During the three months ended March 31, 2014 and 2013, the Company granted 47,786 and 87,268 restricted stock units to employees and non-employee directors from the 2010 Long-Term Incentive Plan at a weighted-average grant date fair value of $74.21 and $49.38, respectively.
In February 2014, the Company granted 69,400 performance-based shares to certain of its employees at a weighted-average grant date fair value of $73.59. The performance shares of 69,400 represent the maximum that can be earned. The number of performance shares that employees ultimately earn will be based on the Company’s achievement of certain specified performance targets in 2014. In February 2013, we granted 90,500 performance-based shares to employees at a weighted-average grant date fair value of $49.13, of which none were ultimately earned and the shares have been canceled.
Stock-Based Compensation Cost
Total stock-based compensation cost recognized in the condensed consolidated statements of operations as a component of selling, general and administrative expenses was $1.3 million for each of the three months ended March 31, 2014 and 2013. Total unrecognized compensation cost related to unvested share-based compensation arrangements was $9.7 million at March 31, 2014, which is expected to be recognized over a weighted-average period of 2.2 years. Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.