Stockholders' Equity

6 Months Ended

Jun. 30, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 2. Stockholders’ Equity

The table below sets forth the number of shares of Class A, Class B and Class C common stock issued and outstanding as of June 30, 2011.

	Class A			Class B			Class C
(in thousands)	Common Stock			Common Stock			Common Stock
As of December 31, 2009		27,659			15,600			16,756
Activity:
Exchange by the Principals(a)		14,400			(14,400	)		—
Shares issued to the public(b)		4,209			—			—
Repurchase from the Principals(b)		(4,209	)		—			—
Share repurchase program(c)		(1,000	)		—			—
Restricted stock units vested		485			—			—
Shares issued to the independent directors(d)		8			—			—
As of December 31, 2010(e)		41,552			1,200			16,756
Restricted stock units vested		78			—			—
Shares issued to independent directors(d)		21			—			—
As of June 30, 2011(e)		41,651			1,200			16,756

(a)	Represents the issuance of 7.2 million shares of Class A common stock to each of the Principals upon exchange of an equivalent number of non-voting member interests in Holdings (“New Class A Units”) in 2010. Upon the exchange of New Class A Units for Class A common stock, corresponding shares of Class B common stock were canceled.
(b)	Represents the 4.2 million shares of Class A common stock that were issued to the public in connection with a synthetic secondary offering (the “secondary offering”) in 2010, including 0.4 million shares issued to the underwriters in connection with exercising a portion of their option to purchase additional shares of Class A common stock, and which we subsequently purchased from the Principals with the net proceeds, and retired.
(c)	In July 2010, our Board of Directors authorized a share repurchase program of up to 1.0 million shares of our common stock. As of December 31, 2010, we had purchased and retired 1.0 million shares of our common stock under this repurchase program. In December 2010, our Board of Directors authorized a share repurchase program of up to 3.0 million shares of our common stock. This authority will expire on December 31, 2013. As of June 30, 2011, we had not repurchased any shares under this program.
(d)	Represents the 8,376 shares of fully-vested Class A common stock (subject to transfer restrictions) that were awarded to our independent directors in 2010 and 20,848 shares of fully-vested Class A common stock (subject to transfer restrictions) that were awarded to our independent directors in the first six months of 2011.
(e)	The table does not reflect unvested restricted stock units awarded to certain employees of 1.9 million as of December 31, 2010 and 4.2 million as of June 30, 2011 (see Note 8. Share-Based Payments). Each restricted stock unit represents the right to receive one share of Class A common stock upon vesting.