Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2013

Equity-Based Compensation [Abstract]

Summary of Equity-Based Compensation Plan Activity

The following table sets forth the summary of equity plan activity for the three months ended March 31, 2013:



Equity Awards	Class B Common Units ⁽¹⁾				MPK Plan Units ^(1) (2)
Outstanding at January 1, 2013	216,483				66,137
Granted	400				—
Forfeited	(665	)			(1,534	)	⁽³⁾
Repurchased/Settled	(126	)	⁽⁴	⁾	(482	)	⁽⁴⁾
Outstanding at March 31, 2013	216,092				64,121
Vested at March 31, 2013	125,903				112		⁽⁵⁾

(1)

The weighted-average grant date fair market value for Class B Common Units granted during the period ended March 31, 2013 is $119.00. The weighted-average grant date fair market value for outstanding Class B Common Units inclusive of the $60.00 per unit impact of the March 2010 modification and the impact of the June 2011 modification for the Company's former chief executive officer is $279.58. The weighted-average grant date fair market value for outstanding MPK Plan Units is $1,000.


(2)	Represents units notionally credited to participants' accounts.


(3)	The Company contributes the fair market value of awards forfeited under the plan to a charitable foundation. The contribution is generally made in the quarter following that in which the units are forfeited. As of March 31, 2013, the Company owed a contribution of 1,534 units.


(4)	Represents Class B Common Units that were repurchased by the Company from former participants and the settlement of vested MPK Plan Units through the issuance of Class A Common Units in exchange for the vested MPK Plan Units.


(5)	Represents MPK Plan Units that have vested but not yet converted to Class A Common Units.

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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