XML 30 R9.htm IDEA: XBRL DOCUMENT v2.3.0.15
Employee Benefit and Other Plans
6 Months Ended
Jun. 30, 2011
Employee Benefit and Other Plans [Abstract] 
Employee Benefit and Other Plans
Employee Benefit and Other Plans
Share-based Compensation: As of June 30, 2011, we had approximately 6.0 million share-based awards outstanding, 251,851 of which are restricted stock units and other share based awards, and the rest of which are common stock options. In addition, we had approximately 1.7 million share-based awards available for grant. We recorded share-based compensation expense as follows:
 
For the three months ended June 30,
 
For the six months ended June 30,
 
2011
 
2010
 
2011
 
2010
 
(in millions)
Share-based compensation expense
$
2.3

 
$
2.1

 
$
3.8

 
$
3.5


         
The unamortized compensation costs not yet expensed related to stock options totaled approximately $19.7 million at June 30, 2011 and the weighted average period over which the costs are expected to be recognized is approximately three years.
The aggregate amount of cash we received from the exercise of stock options is described below. The associated shares were newly issued common stock.
 
For the three months ended June 30,
 
For the six months ended June 30,
 
2011
 
2010
 
2011
 
2010
 
(in millions)
Cash received from exercise of stock options
$
0.4

 
$
6.5

 
$
2.8

 
$
6.5


The following table summarizes information related to our common stock options under our stock option plans:
 
Number of
Stock Options
 
Weighted Average
Exercise Price
Options outstanding at January 1, 2011
5,604,916

 
$
13.69

Granted
1,039,000

 
$
13.92

Exercised
(369,569
)
 
$
7.81

Cancelled, Forfeited
(565,275
)
 
$
17.43

Options outstanding at June 30, 2011
5,709,072

 
$
14.03

Vested or expected to vest at a point in the future as of June 30, 2011
5,256,382

 
 
Options exercisable at June 30, 2011
2,769,172

 
$
16.11

Weighted-average value per granted option calculated using the Black-Scholes option-pricing model for options granted during the six months ended June 30, 2011
$
6.98

 
 


In March 2011, our Board of Directors approved an amendment to our 2005 Equity and Performance Incentive Plan ("2005 Plan") to permit a one-time, value-for-value exchange of certain outstanding employee stock options. On May 24, 2011, our stockholders approved the amendment to the 2005 Plan. This program would permit eligible employees to surrender certain outstanding underwater stock options in a value-for-value exchange for a lesser number of new stock options with a lower exercise price.

The status of our unvested shares, which include restricted stock units and other share based awards, as of June 30, 2011 was as follows:
 
Number of
Shares
 
Weighted Average
Grant Date Fair Value
Unvested shares at January 1, 2011
320,325

 
$
10.40

Granted
118,626

 
$
13.72

Vested
(122,000
)
 
$
12.25

Cancelled, Forfeited
(65,100
)
 
$
8.09

Unvested shares at June 30, 2011
251,851

 
$
11.66