Stock-Based Compensation

6 Months Ended

Jun. 30, 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-and six-months ended June  30, 2013 and 2012:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2013		2012		2013		2012
	(in thousands)
Stock-based compensation cost – expensed	$	2,968	$	2,705	$	5,962	$	5,549
Stock-based compensation cost – capitalized	$	2,872	$	2,442	$	5,734	$	5,306

As of June  30, 2013, there was $43.7 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 2.5 years.

The following table summarizes stock option activity for the first six months ended June  30, 2013 and provides information for options outstanding as of June  30, 2013:

		Weighted
		Average
	Number	Exercise
	of Options	Price
Outstanding at December 31, 2012	3,649,520	$	29.84
Granted	5,210		34.84
Exercised	(466,887)		11.32
Forfeited or expired	(39,369)		37.95
Outstanding at June 30, 2013	3,148,474		32.50
Exercisable at June 30, 2013	1,931,580	$	30.62

The following table summarizes restricted stock activity for the six months ended June 30, 2013 and provides information for unvested shares as of June 30, 2013:  

		Weighted
		Average
	Number	Grant Date
	of Shares	Fair Value
Unvested shares at December 31, 2012	1,117,515	$	35.64
Granted	13,540		36.60
Vested	(26,044)		36.17
Forfeited	(41,501)		35.88
Unvested shares at June 30, 2013	1,063,510	$	35.63