Stock-Based Compensation

6 Months Ended

Jun. 30, 2012

Stock-Based Compensation [Abstract]

Stock-Based Compensation

(14) STOCK-BASED COMPENSATION

The Company recognized the following amounts in employee stock-based compensation costs for the three and six months ended June 30, 2012 and 2011:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2012		2011		2012		2011
	(in thousands)
Stock-based compensation cost – expensed	$	2,705	$	2,236	$	5,549	$	4,686
Stock-based compensation cost – capitalized	$	2,442	$	1,905	$	5,306	$	3,815

As of June 30, 2012, there was $41.3 million of total unrecognized compensation cost related to the Company’s unvested stock option and restricted stock grants. This cost is expected to be recognized over a weighted-average period of 2.6 years.

The following table summarizes stock option activity for the first six months of 2012 and provides information for options outstanding as of June 30, 2012:

		Weighted
		Average
	Number	Exercise
	of Options	Price
Outstanding at December 31, 2011	4,741,732	$	21.24
Granted	17,450		29.31
Exercised	(207,023)		13.76
Forfeited or expired	(61,852)		37.64
Outstanding at June 30, 2012	4,490,307	$	21.39
Exercisable at June 30, 2012	3,319,207	$	15.94

The following table summarizes restricted stock activity for the six months ended June 30, 2012 and provides information for unvested shares as of June 30, 2012:

		Weighted
		Average
	Number	Grant Date
	of Shares	Fair Value
Unvested shares at December 31, 2011	1,019,737	$	36.71
Granted	10,874		29.78
Vested	(31,421)		39.90
Forfeited	(58,280)		37.12
Unvested shares at June 30, 2012	940,910	$	36.50