Stock-Based Compensation

3 Months Ended

Mar. 31, 2013

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 months ended March 31, 2013 and 2012:

	For the three months ended
	March 31,
	2013		2012
	(in thousands)
Stock-based compensation cost – expensed	$	2,994	$	2,844
Stock-based compensation cost – capitalized	$	2,862	$	2,864

As of March 31, 2013, there was $49.9 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 three months ended March 31, 2013 and provides information for options outstanding as of March 31, 2013:

		Weighted
		Average
	Number	Exercise
	of Options	Price
Outstanding at December 31, 2012	3,649,520	$	29.84
Granted	5,210		34.84
Exercised	(451,840)		10.62
Forfeited or expired	(20,698)		35.83
Outstanding at March 31, 2013	3,182,192		32.54
Exercisable at March 31, 2013	1,923,698	$	30.61

The following table summarizes restricted stock activity for the three months ended March 31, 2013 and provides information for unvested shares as of March 31, 2013:  

		Weighted
		Average
	Number	Grant Date
	of Shares	Fair Value
Unvested shares at December 31, 2012	1,117,515	$	35.64
Granted	6,800		35.89
Vested	(3,193)		34.95
Forfeited	(24,005)		35.92
Unvested shares at March 31, 2013	1,097,117	$	35.63