XML 50 R38.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation and Other Employee Benefit Plans (Tables)
 6 Months Ended
Jun. 30, 2013
Share-based Compensation [Abstract]  
Summary of Restricted Share Award Activity
Following is a summary of restricted share award activity during the periods indicated:
 
Restricted
Shares
 
Per Share Weighted Average Grant Date
Fair Value
Non-vested restricted shares, as of December 31, 2011
715,030

 
$
14.44

Granted
175,004

 
18.05

Vested
(129,126
)
 
12.44

Canceled/forfeited
(17,615
)
 
15.27

Non-vested restricted shares, as of June 30, 2012
743,293

 
$
15.61

 
 
 
 
Non-vested restricted shares, as of December 31, 2012
782,281

 
$
19.10

Granted
425,246

 
31.03

Vested
(35,772
)
 
22.94

Canceled/forfeited
(14,437
)
 
15.19

Non-vested restricted shares, as of June 30, 2013
1,157,318

 
$
23.41
Summary of Stock Option Activity
The following is a summary of stock option activity during the periods indicated:
As of and for the Six Months Ended June 30, 2013 and 2012:
Stock 
Options
 
Per Share Weighted Average 
Exercise Price
 
Weighted Average
Remaining
Contractual Life (years)
 
Aggregate Intrinsic
Value (1)  
(in millions)
Options outstanding as of December 31, 2011
1,445,774

 
$
10.25

 
3.16
 
$
10.3

Exercised
(32,000
)
 
8.65

 
 
 
 
Canceled/forfeited
—

 
—

 
 
 
 
Options outstanding as of June 30, 2012
1,413,774

 
$
10.29

 
2.71
 
$
6.7

Options exercisable as of June 30, 2012
1,413,774

 
$
10.29

 
2.71
 
$
6.7

 
 
 
 
 
 
 
 
Options outstanding as of December 31, 2012
1,053,825

 
$
10.55

 
2.31
 
$
15.2

Exercised
(313,303
)
 
10.83

 
 
 
 
Canceled/forfeited
—

 
—

 
 
 
 
Options outstanding as of June 30, 2013
740,522

 
$
10.43

 
1.83
 
$
16.6

Options exercisable as of June 30, 2013
740,522

 
$
10.43

 
1.83
 
$
16.6

(1)
Amount represents the difference between the exercise price and the market price of the Company’s stock on the last trading day of the corresponding period, multiplied by the number of in-the-money options.
Summary of Employee Stock Purchase Plan Activity
The following table summarizes employee stock purchase plan activity for the periods indicated:
 
For the Six Months Ended June 30, 2013
 
For the Six Months Ended June 30, 2012
Cash proceeds (in millions)
$
5.5

 
$
0.5

Number of common shares (in thousands)
416.4

 
34.9

Weighted average price per share
$
13.10

 
$
14.02

Weighted average grant date fair value per share
$
5.49

 
$
4.08
Summary of Tax Benefits from Stock-Based Compensation
Details of stock based compensation expense and related tax benefit for the periods indicated are as follows (in millions):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Stock based compensation expense
$
4.3

 
$
1.2

 
$
6.6

 
$
2.2

Income tax benefit from stock based compensation
1.8

 
0.4

 
3.3

 
0.9

Excess tax benefit from stock based compensation (1)
$
0.8

 
$
—

 
$
1.5

 
$
0.1

(1)
Excess tax benefits, which represent cash flows from tax deductions in excess of the tax effect of compensation expense recognized for stock options exercised and vested restricted shares, are classified as financing cash flows in the Company’s condensed unaudited consolidated statements of cash flows.