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Stock-Based Compensation
9 Months Ended
Sep. 30, 2011
Stock-based compensation [Abstract] 
Stock-Based Compensation
 (10)  Stock-Based Compensation

The following tables summarize information related to the company’s stock-based compensation:

   
Restricted Stock Units
 
Stock Options
     
Weighted Average
      
Weighted Average
   
Number of
 
Measurement
 
Number of
    
Exercise
   
Units
 
Date Fair Value
 
Options
    
Price
Outstanding at December 31, 2010
  684,674  $16.38   1,226,582    $6.46 
Granted (1)
  438,110   17.41         
Exercised
        (197,492)    4.49 
Vested
  (326,271)  18.48         
Forfeited
  (12,450)  16.67         
Expired
        (5,648)    4.14 
Outstanding at September 30, 2011
  784,063  $16.08   1,023,442 (2)
 
 $6.85 

(1)  
The fair value of restricted stock unit grants is determined based on the closing market price of Orbital’s common stock on the date of grant.  Such value is recognized as expense over the service period, net of estimated forfeitures.
(2)  
The weighted average remaining contractual term is 1.66 years.
 
   
Quarters Ended September 30,
(in millions)
 
2011
 
2010
Stock-based compensation expense
  $
1.8
    $
1.7
 
Income tax benefit related to stock-based compensation expense
   
 0.6
     
 0.7
 
Intrinsic value of options exercised computed as the market
               
     price on the exercise date less the price paid to exercise the options
   
 0.7
     
 1.2
 
Cash received from exercise of options
   
 0.3
     
 2.2
 
Tax benefit recorded as credits to additional paid-in capital related
               
     to stock-based compensation transactions
   
 0.3
     
 0.4
 
                 
   
Nine Months Ended September 30,
(in millions)
 
2011
 
2010
Stock-based compensation expense
  $
4.7
    $
3.5
 
Income tax benefit related to stock-based compensation expense
   
 1.5
     
 1.4
 
Intrinsic value of options exercised computed as the market
               
     price on the exercise date less the price paid to exercise the options
   
 2.5
     
 5.4
 
Cash received from exercise of options
   
 0.9
     
 9.7
 
Tax benefit recorded as credits to additional paid-in capital related
               
     to stock-based compensation transactions
   
 1.0
     
 2.0
 

   
As of
 
(in millions)
 
September 30, 2011
 
Shares of common stock available for grant under stock-based incentive plans
  0.8 
Aggregate intrinsic value of restricted stock units that are expected to vest
 $10.0 
Unrecognized compensation expense related to non-vested restricted stock units, expected to
    
 be recognized over a weighted-average period of 2.38 years
  11.4 
Aggregate intrinsic value of stock options outstanding, all fully vested
  6.1