XML 82 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Benefit Plans and Stock-Based Compensation (Tables)
3 Months Ended
Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of non-vested restricted stock units and performance-based restricted stock unit awards activity
A summary of non-vested restricted stock units ("RSUs") and performance-based stock awards ("PSAs" and collectively "Non-vested RSU") activity under the Company's LTIP as of June 30, 2013, and changes during the three months then ended is presented below (shares and intrinsic value in thousands):

 
Three Months Ended
 
 
June 30, 2013
 
   
Weighted
   
   
Average
  
Aggregate
 
   
Grant-Date
  
Intrinsic
 
 
Shares
  
Fair Value
  
Value
 
      
Non-vested RSU outstanding as of March 31, 2013
  
4,850
     
  Granted
  
329
  
$
11.60
   
  Dividend Equivalents Issued
  
44
   
10.93
   
  Released
  
(354
)
     
$
4,039
 
  Forfeited
  
(45
)
        
Non-vested RSU outstanding as of June 30, 2013
  
4,824
         
Stock award compensation expense
Stock award compensation expense was allocated as follows (in thousands):
 
 
Three Months Ended
 
  
June 30,
 
  
2013
  
2012
 
Stock-based compensation classified as:
    
     
Cost of maintenance fees
 
$
178
  
$
217
 
Cost of subscription fees
  
29
   
35
 
Cost of professional services
  
84
   
92
 
Cost of application services
  
486
   
322
 
Technology development and support
  
575
   
644
 
Sales and marketing
  
2,776
   
1,784
 
Administrative and general
  
4,518
   
5,195
 
Restructuring costs
  
1,791
     
         
Total stock-based compensation expense
        
    before income tax provision
 
$
10,437
  
$
8,289
 
Stock Options - Service-Based Vesting [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock option activity
A summary of activity for options that vest based on the achievement of both service and performance conditions under the Company's stock-based compensation plans as of June 30, 2013, and changes during the three months then ended is presented below (shares and intrinsic value in thousands):

 
 
Three Months Ended
 
  
June 30, 2013
 
      
Weighted
   
    
Weighted
  
Average
   
    
Average
  
Remaining
  
Aggregate
 
 
Number of
  
Exercise
  
Contractual
  
Intrinsic
 
 
Options
  
Price
  
Term in Years
  
Value
 
Options outstanding as of March 31, 2013
  
3,648
  
$
9.79
     
Granted
  
594
   
11.30
     
Forfeited
  
(926
)
  
9.92
     
Options outstanding as of June 30, 2013
  
3,316
  
$
10.02
   
9.33
  
$
1,800
 
                 
Options vested and expected to vest, net of
                
estimated forfeitures, as of June 30, 2013
  
479
  
$
11.30
   
9.88
  
$
-
 
                 
Options exercisable as of June 30, 2013
  
-
  
$
-
   
-
  
$
-
 
Stock Options - Performance and Service-Based Vesting [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock option activity
A summary of activity for options that vest based on service conditions only under the Company's stock-based compensation plans as of June 30, 2013, and changes during the three months then ended is presented below (shares and intrinsic value in thousands):


 
Three Months Ended
 
  
June 30, 2013
 
      
Weighted
   
    
Weighted
  
Average
   
    
Average
  
Remaining
  
Aggregate
 
 
Number of
  
Exercise
  
Contractual
  
Intrinsic
 
 
Options
  
Price
  
Term in Years
  
Value
 
Options outstanding as of March 31, 2013
  
19,076
  
$
8.44
     
Granted
  
117
   
10.73
     
Exercised
  
(885
)
  
7.46
    
$
3,363
 
Forfeited
  
(74
)
  
11.33
       
Cancelled/expired
  
(68
)
  
10.04
       
Options outstanding as of June 30, 2013
  
18,166
  
$
8.48
   
6.38
  
$
36,724
 
                 
Options vested and expected to vest, net of
                
estimated forfeitures, as of June 30, 2013
  
17,574
  
$
8.45
   
6.30
  
$
36,021
 
                 
Options exercisable as of June 30, 2013
  
11,903
  
$
8.22
   
5.36
  
$
26,944
 
Stock Options [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted average fair value of stock options granted and assumptions used to estimate fair value
The weighted average fair value of stock options granted during the periods and the assumptions used to estimate those values using the Black-Scholes option pricing model were as follows:


 
Three Months Ended
 
 
June 30,
 
 
2013
  
2012
 
    
Expected volatility
  
39.24
%
  
41.27
%
Risk-free interest rate
  
1.54
%
  
1.01
%
Expected lives at date of grant (in years)
  
7.5
   
6.1
 
Weighted-average fair value of the options granted
 
$
2.82
  
$
3.58
 
Dividend yield assumption (1)
  
4.41
%
  
0.00
%

(1) In January 2013, our Board of Directors announced its intention to begin paying cash dividends totaling $0.50 per share annually, to be paid quarterly beginning in the first quarter of fiscal 2014. Prior to that, the Company had never paid a dividend or announced any intentions to pay a dividend.