Stockholders' Equity

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Stock Repurchase Programs

In August 2007, the Company’s Board of Directors (“the Board”) authorized a plan to repurchase the Company’s outstanding shares of common stock dependent on market conditions, share price and other factors. There were no repurchases during the three months ended March 31, 2017. The Company has repurchased a total of approximately 10,488,000 shares of common stock, since inception of the plan, at an average price of $27.83 per share for a total cost of $291.8 million. The shares repurchased are recorded as treasury stock and are accounted for under the cost method. No expiration date has been specified for this plan. As of March 31, 2017, the total remaining amount available for repurchase was $158.2 million. The Company plans to continue to execute authorized repurchases from time to time under the plan.

Stock Option Plans

The 2003 Plan

As of March 31, 2017, there were approximately 2.2 million shares reserved for future grant under the Company’s 2003 Equity Incentive Plan (the “2003 Plan”).

A summary of the stock option activity is presented below (in thousands, except per share amounts):

	Options Outstanding
	Number of Shares Subject to Options		Weighted Average Exercise Price Per Share
Balance at December 31, 2016	1,332		$24.41
Options granted	—		—
Options exercised	(150	)	$23.54
Options canceled / forfeited / expired	(29	)	$37.39
Balance at March 31, 2017	1,153		$24.19

Restricted Stock Awards and Units

Information with respect to outstanding restricted stock awards and units as of March 31, 2017 is as follows (in thousands, except per share amounts):

	Restricted Stock and Restricted Stock Units
	Number of Shares Subject to Time- based Vesting		Number of Shares Subject to Performance- based Vesting		Total Number of Shares		Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2016	1,696		384		2,080		$	33.91
Awards and units granted	789		145		934		$	36.29
Awards and units vested / earned	(385	)	(72	)	(457	)	$	35.03
Awards and units canceled / forfeited	(56	)	(88	)	(144	)	$	28.13
Balance at March 31, 2017	2,044		369		2,413		$	34.97

Performance Awards and Units

Performance awards and units may be granted to employees or consultants based upon, among other things, the contributions, responsibilities and other compensation of the particular employee or consultant. The value and the vesting of such performance awards and units are generally linked to one or more performance goals or other specific performance goals determined by the Company, in each case on a specified date or dates or over any period or periods determined by the Company, and range from zero to 100 percent of the grant.

Employee Stock Purchase Plans

As of March 31, 2017, there were approximately 363,002 shares reserved for grant under the Company’s 2003 Employee Stock Purchase Plan (the “ESPP”) and the International Employee Stock Purchase Plan (the “International ESPP”), collectively.