Stock-Based Compensation

9 Months Ended

Sep. 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 nine-months ended September  30, 2013 and 2012:

	For the three months ended				For the nine months ended
	September 30,				September 30,
	2013		2012		2013		2012
	(in thousands)
Stock-based compensation cost – expensed	$	2,921	$	2,677	$	8,883	$	8,226
Stock-based compensation cost – capitalized	$	2,809	$	2,482	$	8,543	$	7,788

As of September  30, 2013, there was $38.2 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 2.3 years.

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

		Weighted
		Average
	Number	Exercise
	of Options	Price
Outstanding at December 31, 2012	3,649,520	$	29.84
Granted	26,010		38.76
Exercised	(705,991)		9.60
Forfeited or expired	(55,756)		37.47
Outstanding at September 30, 2013	2,913,783		34.68
Exercisable at September 30, 2013	1,699,151	$	34.06

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

		Weighted
		Average
	Number	Grant Date
	of Shares	Fair Value
Unvested shares at December 31, 2012	1,117,515	$	35.64
Granted	32,346		37.53
Vested	(30,884)		36.19
Forfeited	(58,560)		35.77
Unvested shares at September 30, 2013	1,060,417	$	35.67